Realtor using unique strategy to sell home - KWWL - Eastern Iowa Breaking News, Weather, Closings

Realtor using unique strategy to sell home

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WATERLOO (KWWL)-- The housing market continues to struggle nationwide.  In some cases, houses can sit for a year or more before being sold.  And that's leading some realtors to try unique strategies to attract buyers. 

The Cedar Valley is somewhat bucking the housing market troubles.  Houses here are still selling pretty quickly, with an average time on the market of just more than two months.  But finding buyers in this economy is by no means easy.  And in one case, a local real estate agent is reviving a unique strategy to get one of his listings sold.

A house on Rainbow Drive in Waterloo is taking a little longer to sell than expected.  So listing agent Jack Rash decided to pull out an old marketing strategy in an effort to find a buyer—fast.  Rash has been hosting an open house at the property every day for about a week, and he plans to continue doing so until he makes a sale.

"Sometimes when you think things are getting tough, you put your work boots on and roll up your sleeves.  When things get tough, the tough get tougher," Rash said.

Rash says the strategy is one he used back in the 1980s when the country's housing market was in a similar slump to the one being seen now.  And this go around, it seems to be working.  At least one person has stopped in every day since the sign went up.

"We've had other showings from other realtors, too.  In fact, one's coming today.  So it's getting them off their seats, too.  It's just hard to touch everybody with a regular listing today.  So we go about it in the most creative ways we can," Rash said.

The owners of the property recently moved into a new home and don't want to be making two mortgage payments for long.  Moving the house now also means getting it off the market before winter hits, which is almost always a slower selling season in the real estate business.

Rash says that home sales spiked earlier this year with special rebate offers from the government.  But with that program now gone, sales have noticeably slowed down.  Realtors are just hoping that historically low interest rates will entice people to buy a home.

KWWL Reporter:  Kera Mashek

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