The real estate market remains challenging for many buyers. High mortgage rates and rising home prices have pushed some potential homeowners to the sidelines. Sellers and agents, however, are finding new ways to attract attention. Brendan Da Silva, a New Jersey-based real estate agent, has embraced one such method. He lists homes for $1.
The $1 home marketing tactic has been gaining popularity as a clever way to draw in buyers. According to Realtor.com data, homes listed at $1 have steadily increased. In June, 512 properties carried the $1 price tag. That number is 24 percent higher than June last year and nearly 83 percent higher than two years ago.
Hannah Jones, senior economic research analyst at Realtor.com, explains the rise. She says, “The number of homes listed for $1 has climbed steadily over the last year as sellers look for creative ways to draw buyer attention.”
Mortgage rates currently hover near 6.75 percent. Combined with high prices, this has made buying a home difficult for many. Brendan Da Silva says the $1 listings cut through this market fatigue and attract serious buyers.
Brendan Da Silva has put this tactic to the test. He lists some Newark properties at $1. Buyers then have one week to submit their best offers. The response is intense. He says, “I always find myself arguing with sellers over what is the correct price to list at, usually the seller’s fear of under-listing it. This proves that it’s not possible.”
His listings generate hundreds of calls. Buyers are split between confusion and serious interest. Brendan Da Silva says, “I knew it would trigger INSANITY. The buyers have been split between confused, $1 bids, and a lot of serious attention. Managing was nearly impossible; we began reviewing comps over the phone with buyers.”
The $1 listing is not a price meant to be taken literally. Experienced buyers understand this. The tactic serves as a bold attention grabber. Homes that may otherwise sit on the market suddenly become the center of buyer conversations.
And in a market where homes sit unsold for longer periods, Brendan Da Silva finds this tactic refreshing. It forces buyers to act fast and compete. The urgency created can lead to multiple offers and even bidding wars.
Some question the ethics of listing a home for $1. Critics say it misleads buyers, especially those unfamiliar with the market. Others worry about scams disguised as $1 listings.
Brendan Da Silva pushes back against these criticisms. He says, “You are being obnoxious and do the same thing when you list a house for $100,000 less than it’s worth.”
His point is clear. Many listings undercut true value. The $1 listing simply turns that approach into an open challenge.
Current market data supports the need for creative marketing. Active listings increased by nearly 29 percent year over year. The median number of days homes remain on the market is now 53. More than 20 percent of listings have seen price cuts.
The median national list price remains steady at $440,950. Yet buyers face affordability challenges. The $1 tactic provides an alternative route to attracting offers.
No matter how good the results it yields, Brendan Da Silva cautions that this method is not for every seller. The volume of calls and inquiries can be overwhelming. Agents need to manage a flood of buyers, screen serious offers, and maintain clear communication.
Despite the challenges, Brendan Da Silva is confident in the tactic’s effectiveness. “I think in any market this would work,” he said.
For buyers, understanding the $1 listing is critical. It is rarely a genuine sale price. Instead, it acts as a starting point for offers. The method requires buyers to be prepared and quick.
This approach can unlock access to homes buyers might otherwise miss. It encourages transparency as agents review comparable sales directly with buyers.
Brendan Da Silva’s success with the $1 home marketing tactic shows a shift in how real estate agents attract attention. In a crowded market, bold moves stand out.
As more sellers consider this approach, the $1 listing may become a regular part of the real estate landscape. Brendan Da Silva continues to lead this trend in New Jersey. His experience suggests that when traditional methods stall, creativity can close the deal.
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