by Tanta on 5/11/2007 09:52:00 AM
Friday, May 11, 2007
Unclear on the Concept
From WSJ Online via Yahoo!, we meditate on the economics of the "sales inducement."
After sitting on the market from June to December 2006, the Chungs' 1,200-square-foot Cambridge, Mass. townhouse condominium sold for $70,000 less than the asking price. "The number of condos in our price point was at some record high," Mrs. Chung says.
To attract a buyer, their real-estate agent suggested purchasing a flat-screen TV and including it in the price of the house. When the home finally sold, the buyer didn't want the TV.