One home seller is offering $1,000 in booze to lure in prospective buyers in a down market. Melanie Gravdal hasn’t had much luck with her Glenview, Illinois property, so she came up with an idea to give free alcohol at the local watering hole called “Grandpa’s Place.”
“We weren’t getting very much traffic because there was so much competition in the market,” said Gravdal. “We live in a place where restaurants and bars come within walking distance, so we thought this was a way to cross-promote the neighborhood and our homes.”
“Grandpa’s Place,” a restaurant and bar, is located across the street from the home and has been around for 113 years. She joked that the buyer could just walk home from a night of partying at the watering hole. She also posted fliers inside the bar of the home and tap offer.
The idea seems to be working as Gravdal now says that there’s been a rise in traffic since the incentive.
“Before the promotion we had two showings in seven weeks,” Gravdal said. “Since the promotion … we’ve had nine. It used to be that sellers would make cookies for buyers to show them that they were good,” she said. Gravdal calls it a deal sweetener.
Gravdal says she and her family are wanting to sell the home so they can move back to California. They have already dropped the price down $25,000 and it is now going for $450,000. The new price is below the current average for similar homes in the area.
“It’s become kind of a talking point,” said Mike Maginot, the general manager at Grandpa’s. “As far as whether it’s going to work I don’t know. The rallying point seems to be actually how to spend the $1,000s. The best idea I’ve heard is a family of four coming in once or twice a month, enjoying a meal and going on their way.”