The daily deal website Groupon has been active in Chicago since 2008, but only recently has the idea of collective buying power made its way to the real estate market.
Groupon, along with other group coupon companies, offers its customers “daily deals” that allow them purchase coupons for restaurants, clothing stores, spas, and service companies at a drastically reduced rate. But those coupons are only available for purchase if they are bought en-masse, and so the companies who advertise them are thereby able to ensure that they’ll receive a reasonable amount of business. They’re also only available for one day at a time, to see to it that those same companies aren’t inundated with too many customers at once.
Recently, real estate companies have begun to show an interest in this idea of collective buying power, and they’ve create daily deal companies of their own—companies that have been changing the notion of a group coupon to better suit the needs of the real estate market.
One such daily deal company is HouseTipper.
The co-founder of HouseTipper, Tigue Bonneval, explains how his site is different than other group coupon sites by noting that “In real estate, the deals are often offered for three to seven days rather than for just one day, because these are not usually impulse buys. This gives customers time to see the deal, make an inquiry with the real estate agent and decide if they want to make the purchase.”
Bonneval also notes that “Real estate agents don’t pay us anything because HouseTipper gets paid when the consumer buys a deal. There’s a preapproved commission that goes to the merchant and fluctuates according to the deal.”
So far HouseTipper has been tremendously successful, and Bonneval hopes that its success will only continue grow in future months and years.