There is a Chicago-based realty that is now offering a discount voucher on Groupon.
Dream Town Realty is offering a $1,000 cash-at-closing voucher for just $25!
You can read about it here:
http://www.walletpop.com/2011/04/10/save-1-000-on-real-estate-purchase-with-groupon/
Most of the online discount voucher companies, such as Groupon, Living Social, and new contender DailyTicket, offer huge discount vouchers on local merchant products and services such as restaurants, spas, classes, cosmetics services, cosmetic dentistry, theatre, car washes, special events, entertainment, and much more.
If you haven't read this month's ActiveRain Masterminds challenge, it actually had to do with this same topic:
Is this a new wave in the future of real estate?
Do any RESPA guidelines fall into place here from state to state?
What's your opinion?
Ralph,
Seems like betting on an outcome. Seems like duress on the Client to close for a cool grand. Doesn't seem like fiduciary-level behavior.
I am not sure I see anything wrong with this approach. It is advertising pure and simple...and even the the client buys the $1000 with $25....they are under no obligation to use the agent (except to get the $1000).
Sounds fishy to me...
Ralph - feels like smoke and mirrors ... and I'm sure there will be some "to do" about the disclosure and truth in advertising in the small print. Overall - if you're going to give a discount coupon - do it for something that doesn't hurt the profession's image. (JMHO)
Hi Ralph... I saw this story online and it took me a while to process. All in all, I don't think it does much in the way of making us look like the professionals we like to claim to be.