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DC Area Gets Second Group Discount Offer Aimed at Home Buyers

by UrbanTurf Staff

When a Chicago real estate brokerage launched a Groupon initiative a few months ago that ended up selling 219 deals, it seemed like only a matter of time before companies in other major cities followed suit, and DC did.

In early May, Logan Circle-based brokerage Hounshell Real Estate offered up to $6,000 off their commission for buyers or sellers for $50 through The Capitol Deal, the Washington Post’s homegrown answer to sites like Groupon and LivingSocial. The actual amount refunded depended on the price of the home: $1,500 off for a home price between $200K and $400K; $3,000 off for $400-800K homes; and $6,000 off for $800K homes and above.

For a variety of reasons, Groupon no longer offers real estate deals, but that doesn’t mean other sites haven’t decided to take a stab at them.

HouseTipper logo

UrbanTurf has learned that Van Metre Homes is now offering a group-buying deal for DC-area home buyers via HouseTipper. The deal is similar to the Hounshell offer: Buyers pay $50 and get up to $5,000 at closing when purchasing a Van Metre home.

Homes with a purchase price between $200,000 and $500,000 are eligible for $2,500 in paid closing costs and homes with a purchase price above $500,000 will be eligible for having $5,000 in closing costs covered. Only one voucher can be used per transaction, and it cannot be coupled with other discounts. The offer is valid on new sales contracts written between July 8, 2011 and October 8, 2011.

The deal tips when three are purchased and will run for the next 16 days.

See other articles related to: van metre homes, housetipper, groupon, group buying, dclofts

This article originally published at https://dc.urbanturf.com/articles/blog/dc_area_gets_second_group_buying_offer_aimed_at_home_buyers/3789

5 Comments

  1. LaszloB said at 3:49 pm on Tuesday July 12, 2011:

    Or, buyers could work with Redfin where the buyer credit is the norm!  No voucher, no one-time-only, just their everyday business practice.

  1. anon said at 9:57 pm on Tuesday July 12, 2011:

    You get what you pay for.  “Rebate” agents are transaction processors, not agents.  I marvel how the overpriced houses end up being “sold” by “Rebate” agents.  And word on the street has it that listing agents have been asked to provide comps for the “Rebate” agent to give to their clients.  How’s that rebate look now?

  1. paul said at 10:41 pm on Tuesday July 12, 2011:

    Hounshell is no longer in business. Real estate buyers should concentrate on the bottom line, not commissions. A good agent is worth their fee.

  1. Jimmy said at 8:23 am on Wednesday July 13, 2011:

    Yes, the Hounshell deal was the first group buying Real Estate Broker Deal in DC but the Van Metre deal is the first group buying Home builder deal not only in the DC area but ever. Looks like this could become a new lead generation trend for Realtors, Home builders and other players in the industry.

  1. federico said at 4:59 pm on Tuesday July 26, 2011:

    We have been watching for opportunities in DC for a while and our budget can go as high as 1.3ml. We are cautious because of rough time and the feeling that most houses are still overpriced. In this process we have met at least 50 agents (buyer and seller). In most cases they are not knowledgeable people. One is struck on how little do they know about the properties shown, lots of times about the same information wrote on the flyer. Buyers agent add very little value if anything at all these days since you can find everything online. Redfin is a good site for it. Once you have set up your alerts about number of rooms, sqft, bathrooms and any other possible feature, you do not need an agent since automatically everyday the right house for sale flow into your inbox with all info and pictures. This comes for free you do not need to commit with redfin. And in fat you should not: with a little search you can get 2% rebate easily as compared with 1.5 offered by redfin. Bottom line: Realtors have eaten for free for so long that it is very difficult to find one that may really worth the fabolous amount they get from the transaction. Rebate agents are just the acknowledgement of that.

Comments are closed.

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