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Strategy For Home Sellers: Bury Saint Joseph

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Strategy For Home Sellers: Bury Saint Joseph

Business

Strategy For Home Sellers: Bury Saint Joseph

Strategy For Home Sellers: Bury Saint Joseph

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  • <iframe src="https://www.npr.org/player/embed/92809585/92809549" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Steve Inskeep has today's Last Word in business.

STEVE INSKEEP, host:

And today's last word in business is about an underground strategy to sell your home that nobody wants. The word is Saint Joe. Some people think the house will sell if you bury a plastic statue of Saint Joseph upside down in your front yard near the for sale sign. Phil Cates is a California mortgage broker with a side business selling the statuettes.

Mr. PHIL CATES (Mortgage Broker): It's actually kind of eclipsing my mortgage business at this stage of the game.

INSKEEP: Mr. Cates recently sold 1,000 statues in an hour. Real estate agents are bulk buyers of the $10 statuettes and one recently wrote this to Cates on his Web site.

Mr. CATES: When a real estate agent and a home seller get to the point in a transaction where they're actually digging a hole in the front yard and burying a piece of plastic, there is a commitment to sell that home.

INSKEEP: Mr. Cates does not dismiss the power of positive thinking. Now, if you're wondering why the statue should be buried upside down, well, we've been doing some research and we don't know. If you think you know, send us a note. Go to NPR.org and click on Contact Us.

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