‘Group buy’ sites slow to embrace real estate

Real estate agents and brokers who are eager to use popular "group buy" platforms like Groupon to land new clients are finding that some of the bigger names in the business aren't nearly as enthusiastic about working with them.

After approving the first "real estate Groupon" in April — an offer by Chicago-based Dream Town Realty of $1,000 cash back at closing that was snatched up by more than 200 buyers –Groupon put the brakes on plans by a Manhattan-based brokerage to offer a similar deal in May, and has yet to green-light another.

Groupon would say little on the record about the prospect for future real estate-related group buys, except that the company wants to make sure they benefit both consumers and the parties making the offer.

Agents and brokers who have tried to work with Groupon say they've been given the cold shoulder, and that they've also been turned away by the second-biggest name in the business, Living Social. A spokeswoman for Living Social declined to comment.

Source: Inman News