One-Dollar House For Sale?
May 12th, 2008 categories: Honolulu Real Estate 101, Rants & Riffs
I have heard a great many strategies to create interest in a home, but this one takes the cake! A homeowner in Toronto listed their home for sale for $1.00. I guess the idea is to create massive interest and to have the price bid up to market. The move has created a buzz as it made the evening news in Toronto and here I am blogging about it. Read the entire post and you will see that the Blogger makes some good points as to why this might not be the best plan. The Honolulu market is strong and it is not necessary to play this game here.
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“It’s been done before and with not-so-great results. A quick check of the Toronto MLS shows these listings are often terminated or suspended. If this strategy wasn’t embraced when the Toronto real estate market was super hot, what are its chances of success today? And what a waste of time; think of all the qualified buyers who bought elsewhere rather than negotiate this type of offer, and the sellers who were aggravated with lowball offers (really, you were expecting something else?).”
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