Paper Money - Paper Tales

Friday, November 17, 2006

Bet Your Bottom Dollar!

Here's an interesting Newswire release promoting a real estate agent that's taking a "new" approach to home sales. It seems the agent is attempting to create a buzz by listing a Highland Park IL home for 1$!! Check out the listing at Realtor.com.

**

NewswireToday - /newswire/ - Deerfield, IL, United States, 11/16/2006 - The 2.1 bath, three bedroom house is listed in the MLS for $1. Is this a joke? Is this a mistake? $1 listing attracts the eye of not only potential buyers, but other real estate agents.

8:30 A.M. Evan Kane from Endeavor Realty listed a two story three bedroom home for sale in the MLS at a listing price of $1.00.

It is not often that you see a house in the affluent Chicago suburb of Highland Park listed for sale at $1, but that is what Evan Kane the Broker/Owner of Endeavor Realty has done to help his clients sell their home in an increasingly tough real estate market.

Most Real Estate Brokers do not think to use the science of social psychology to help sellers. The real estate market has become increasingly tough causing brokers and real estate agents to have to think of other ways to attract buyers. Endeavor Realty has come up with a different strategy to serve the best interest of its clients.

Citing a recent study by Gillian Ku of the London Business School, Adam D. Galinsky, and J. Keith Murnighan of Northwestern University Kane says, "although this is not an auction, the principles are very similar and the evidence is clear that starting low can lead to more traffic and a higher sale price."

Not only is approaching a slow market with creative ideas and new strategies increasing traffic and sales for the clients of Endeavor Realty, but it is also attracting other traditional real estate agents that have not thought of going beyond their guiding principles to try something different.

Deciding to implement this strategy has caused a few adverse reactions. "They don't like it. I am using the system in a way they didn't contemplate" says Kane of the reaction of more traditional agents. "I have to deal with a few angry phone calls, but it's in the best interest of my client, so I do it."

For additional information on the news that is the subject of this release, contact Evan Kane or Janessa Gonzalez.

About Endeavor Realty

It is the mission of Endeavor Realty to be the catalyst of change that brings transparency, efficiency, and honesty to the residential real estate industry.

1 Comments:

  • Hello,

    I recently published an article on mortgage loans, tips on how to make them work for you and other forms of mortgage financials – here is a quote from it, in case you are interested:

    Smell a Good Deal for a Real Estate – Try to discover a property that has already got some equity in it, when you purchase it. Equity represents the value of a real estate, a property after you have paid any mortgage or other charges relating to it.

    Try to Get a Second Mortgage on the Real Estate – You could try to be more creative and ask the seller whether he would be willing to have a second mortgage on that home. Thus you could set up an agreement with the seller through which you will have to pay monthly an approximate sum of $200, for instance, on $15,000 of the price of the real estate (plus or including the interest rate), for the second mortgage.

    Save Some Money to Pay in Advance – Some lenders might give you a full credit if you come with at least a small percentage of the sum. This would grant you supplementary points for getting the credit and would also lower the interest rate – e key point of any mortgage refinance program.

    Don’t Give up, Go Further – don’t trust the first broker who tells you that there is no hope for you. You will finally find someone who could offer a viable solution, just keep asking and searching. An alternative is to apply online to mortgage services. Thus your application would be seen by more lenders and you might get more offers to analyze your solvency.

    Improve Your Present Credit Score – by not applying to credit cards, auto loans or other loans, if possible. Too many inquiries would also affect credit scores. Another important thing you should do to improve your credit scores is to acquit your current duties and payments on time.

    If you feel this helps, please drop by my website for additional information, such as how to refinance a second mortgage or additional resources on mortgage rates.

    Regards,

    Michael

    By Blogger MortgageTop, at 11:22 AM  

Post a Comment

Links to this post:

Create a Link

<< Home


 
Top Real Estate Blogs Blogarama - The Blog Directory