With a slow real estate market, realtors are thinking out of the box with ways to jumpstart sale activity. There’s a lot exquisite cribs up for grabs but the buyers market just isn’t budging and for good reason too.
You may have heard of a club crawl, where a party bus takes you from one downtown Vancouver club to another. But now realtors are introducing a “Crib Crawl!” Crib Crawls feature a group of 30 potential homebuyers who are taken out for a night on the town, they are given appetizers, drinks, and get to ride in style in a limo. During the duration of their ride, they will also visit the Pint Pub, all while they stop off at 5 different homes that are for sale! This crib crawl idea was introduced by realtor brothers Jordan and Russ Macnab, who’s hopes are to attract Vancouver home buyers in what is a slow real estate market.
Aside from crib crawls, many realtors try to throw in incentives and extras to help push a sale, for example, gym memberships, kayaks and even bikes!
According to the Canadian Real Estate Assocation, the number of sales and the dollar value of sales is down in Vancouver by 16 percent, as compared to October 2011’s numbers. The Canadian average is down by 2.5 percent.
The Macnab brothers aren’t the only ones trying to be creative! The Village in False Creek offers buyers two options, either a $5,000 discount, which most take, or an incentive package which features a kayak, bike, Science World membership for the year, vouchers, and gifts from many nearby retailers. In Richmond at River Green, a new condo development, buyers are given 2 complementary one-year memberships at the Olympic Oval, which is a sports and wellness facility.
Everyone’s trying to spice things up in a generally low Real Estate Market in the 604. If you are interested in attending the November 29 crib crawl, and are a serious home buyer, it’s $20 to sign up and you can do so at their website here.