Real estate agents are adopting $1 pricing as a marketing tactic to increase buyer interest and generate competitive bidding for homes. This approach, while seemingly gimmicky, has resulted in homes selling for six figures despite a starting price of just one dollar. Agents highlight that this strategy widens the pool of potential buyers and allows the market to determine the property's actual worth. In New Jersey, one agent received offers as high as $550,000 for a home initially listed at $1, demonstrating the effectiveness of this technique.
The unconventional marketing tactic of listing homes for $1 is attracting buyers and allowing the market to set a property's true value, leading to six-figure sales.
Brendan DaSilva, a New Jersey real estate agent, noted that the $1 listing approach alleviates concerns regarding underpricing and encourages competitive bidding.
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