Finances & Money

3 Creative Ways to Sell Your Home

If you’re looking to sell your house, February isn’t likely the best time to do it. Cold, wet weather doesn’t exactly scream “let’s go house-hunting” to potential buyers. And the fact that many folks are still recovering financially from their holiday expenses means the necessary interest in a new abode might not be present for the majority of people out there. But what if you really need to unload your property despite bad timing? Take a look at three creative ways you can ditch a property no matter the circumstances:

Sponsor a Contest

Just a few weeks ago, an Alberta woman made headlines by offering her “luxury home” as the prize in an essay-writing contest. For a $25 entry fee, eager writers can try to pen the winning essay about why they would be the best new occupant for the home. The woman only(!) needs 68,000 entrants. If she fails to get the necessary number of contestants to cover the $1.7 million asking price, she vows to refund every fee. As the median house price in the U.S. is not even $223,000, the average American seller could sponsor a similar contest and not have to read nearly as many papers! Just think: in a global economy with robust business immigration laws, people from all around the world could be your potential buyers. It would open up a whole new audience!

Offer a Reward

A few years ago, another Canadian couple got creative with their home sale efforts and offered $1,000 to the person whose Facebook share led to a sale. Not only was this an incentive for friends and family (and friends of friends and family) to help advertise the home, it was also a way for the couple to save thousands of dollars in real estate agent commissions. And if offering a prize isn’t really your cup of tea, you can always just post your home’s details on social media to see what happens. With more than 65% of first-time home buyers being Millennials, and 85% of Millennials using social media, posting your home on social media exposes your listing to a powerhouse of purchasing potential.

Give Away a Prize

Everyone likes a freebie. Whether it’s the toaster oven that comes with opening a new bank account or those “buy one, get one free” promotions you see in grocery stores, even just the appearance of getting something for nothing goes a long way towards spurring a purchase. Indeed, it’s a common tactic with lots of property sales; remember those washers and dryers and refrigerators that “come with” a lot of home sales? But the next time you think about throwing in window treatments or a microwave, be a bit more creative. Offer a car or a hot tub instead. Don’t just rely on traditional sales methods the next time you want to sell a home. Think big, and you might get big returns. Just take into consideration local, state and federal laws about hosting contests and giving away prizes before you step outside the box.

About the author

Susan Paige

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