Million Dollar Contest Could Stimulate Interest in Real Estate

House sales have been considerably lower than previous years. A real estate company is hoping to encourage people to purchase a new home by offering them a chance to win a million dollars.

Seattle, WA (prHWY.com) June 27, 2012 - House sales have been considerably lower than previous years. The downward spiraling economy has forced many people to forego purchasing a home, and stay in their old homes or rent. A real estate company is hoping to encourage people to purchase a new home by offering them a chance to win a million dollars.

"People love the idea of instantly becoming millionaires", said Tony Bradshaw, a real estate agent out of Dallas, Texas. "My real estate firm is hoping that the idea of winning a million dollars could entice people to purchase the home of their dreams. You know a little incentive to make them want to buy."

The way the contest works is the real estate firm will place a million dollar check in one of the brand new homes that has been newly constructed. Each family that purchases the newly constructed homes will have an equal chance of winning this huge cash prize.

"The families won't know that they won until the day that they get their keys", said Bradshaw. "In fact, we won't even know that they won until that point either. We have hired an outside real estate marketing company to handle the details of the contest so we aren't accused of favoring certain houses or families."

The real estate marketing company will place the million dollar check in one of the homes, but not tell any of the agents which one it is in. Most of the newly constructed homes are purchased without being toured to begin with. Many of the families use the model home to pick how they want their new home to look like, and only see the final product on the last day.

"We think this might be a great way to encourage people to purchase a home" said Bradshaw. "At the very least it will get people out there and look at new homes, even if they don't buy the ones we offer. I think of it as a way to stimulate the economy."

The million dollar contest was announced last month. The real estate agent assumes that there has been at least a 50% increase in number of people who have asked to tour the newly constructed homes.

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Tag Words: real estate

Categories: Business

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