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Popular BOGO Sales Strategy Now Entering Real Estate Market
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Added: 08/15/2005
Type: Summary
Viewed: 649 time(s)
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Popular BOGO Sales Strategy Now Entering Real Estate Market
Phoenix, AZ August 15, 2005 -- With so many retailers enticing customers with “buy one get one free” offers, it was only a matter of time before the concept found a permanent home in real estate.
“It’s an idea whose time had come,” states Kelly Poole, co-founder with husband Dan of Two4One Real Estate, a budding new franchise system based in Phoenix, Arizona.
Though seemingly radical in nature, the idea itself is both simple and straightforward according to Poole. “If a client will commit to buying their next home through us, we will sell their current home for free.” Selling the home for free means the company waives their listing commission, which can often run in the thousands, if not tens of thousands, of dollars. “We’ve had some clients save as much as $15,000 on the sale of their existing home, so that really adds to the word of mouth,” states Poole.
While the strategy works great for homeowners, it appears to make sense for real estate agents as well, say co-owner Dan Poole. “By selling our clients homes for free, we pick up a greater share of the market’s listings. It also creates an instant client base of qualified buyers, so the system drives itself and generates an increased sales volume.”
While working for less doesn’t mean earning less, it also doesn’t mean cutting service. “We are a 100% full service real estate agency,” Poole contends. “All of our listing are placed in the MLS and we never cut the buyer’s agent commission. The discounts we offer are all on our side of the table, so that way everyone stays happy.”
Happy is a good way to describe Randy and Sistine Castellini. The pair was one of the first Two4One franchisees to get started. With the system in place, they produced a 100% increase in net income their first year.
Word of the concept has spread fast. The franchise, which opened in January of 2004, now has five offices in Arizona, with several more slated to open in the next few months. The company also plans to expand nationally by awarding regional territories this fall. Asked if he was concerned that others might try to copy his program, Poole expressed confidence. “We developed the concept, but more importantly, we own the name. Anyone looking to get a two for one deal will automatically think of Two4One Real Estate.”
With the trend spreading quickly the sure winner will be consumers, as more and more savvy homeowners look to retain equity when they sell their homes. “It makes sense for homeowners to carry as much of their equity forward into their new homes as possible,” Poole continues, “and it makes just as much sense to have a business model that keeps the sales pipeline full at all times.”
Buy one/get one may come and go at the grocer, but from all appearances, it’s found a new home in real estate.
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