Brokerage Firm Uses Groupon to Spur Activity

With the help of deal-of-the-day giant Groupon, Chicago-based Dream Town Realty is making history as the first company to offer the discount for buying or selling a home.

For just $25, buyers and sellers can pick up $1,000 cash at closing.

The catch? Sellers must list with the firm by April 9, 2012, and buyers must both close the sale – priced at a minimum of $150,000 – and redeem their Groupon by the same date to get the cash.

Dream Town’s president and co-founder, Yuval Degani, told Inman News the goal of the Groupon promotion was to generate media buzz and increase traffic to the brokerage’s website.

At midday Friday, less than 12 hours after it was made available for five days, the deal was quickly approaching the 50-buyer minimum. So far, more than 150 have been purchased and the sky’s the limit.

“Unlike a restaurant, which can overbook if it oversells (a Groupon offer), there is no limit to what we can do,” Degani said. “We will honor as many as purchased.”

Too bad Tennessee bans such rebates by real estate professionals at closing.