Timeshare Tactics Used to Entice Buyers to Multimillion-Dollar Mansions

The video discusses the concept of test driving mansions, a strategy used by real estate agents to attract potential buyers in a competitive secondary home market. It covers the requirements for participating, such as showing an investment portfolio, and the fees involved, which can be as high as $7000 per night. These fees are credited towards the purchase if a sale is made. The strategy includes offering luxurious experiences like river tubing and spa treatments to entice buyers. The approach is effective, with 20-25% of sales occurring through this method.

What is the primary reason real estate agents are offering mansion test drives?

• To increase the value of the property

• To attract potential buyers in a high inventory market

• To provide a vacation experience

• To compete with car dealerships

What must potential buyers show to participate in a mansion test drive?

• A letter of recommendation

• Proof of previous home ownership

• A valid driver's license

• Their investment portfolio

What term is used to describe people who bypass the sales gallery without genuine interest?

• Jumpers

• Speeders

• Runners

• Skippers

How much can it cost per night to stay in one of these mansions?

• $500

• $2000

• $10000

• $7000

What percentage of sales are attributed to the mansion test drive strategy?

• 5-10%

• 10-15%

• 15-20%

• 20-25%