Real estate firm unveils promotion in tough market
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- January
- 12
Prudential Rand Realty is finding that many consumers are fearful of buying or selling a home in a sluggish economy and weak housing market.
“Right now, our biggest obstacle to home sales is consumer confidence,” said Matt Rand, managing partner at Prudential Rand. “People are afraid to make a leap into this market.”
To encourage nervous consumers to leave the sidelines, Prudential Rand has come out with a new marketing pitch. The White Plains-based company said that it will waive its listing commission if a homebuyer purchases a property now and is unable to recoup their purchase price when they later sell the house.
The promotion, called “Make Your Move,” is open to those who buy a home through Prudential Rand Realty as their primary residence by March 31 and later re-list the home for sale with the company. Prudential Rand has 19 offices and more than 700 sales associates serving Westchester, Rockland and Orange counties.
The housing market has been deteriorating in the Lower Hudson Valley recently. Westchester County’s median sales price of $575,000 in October was down 14 percent from a year earlier, according to the New York State Association of Realtors. Sales dropped 16.5 percent in the county. Rockland and Putnam counties also posted drops in home sales and purchase prices.
But Rand said that he believes that the worst may be nearly over for the housing market.
“We think prices are at or near the bottom of the cycle and we definitely believe prices will increase during the next five to seven years,” Rand said. “We’re so confident that it’s a good time to buy a home that we’re willing to bet our future commissions on this belief.”
This entry was posted
on Monday, January 12th, 2009 at 3:55 pm by Jay Loomis.
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Category: Real Estate
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