How To Raffle Your House. Make Friends With A Local Agent First.
67Raffle Your House
So you have decided to raffle your house because you cannot sell it the conventional way. Chances are you have made that decision after a long haul with a local real estate company who had your house listed. Sure you had what I term as "tirekickers" and "bottomfeeders" view your home on several occasions. Everyone just loved your house but you received no offers. What gives? I could tell you what gives but you don't really want to hear that for now.
How Your Local Real Estate Agent Can Help You Raffle Your House
Do you understand what a fantastic resource that your local Realtor and MLS service is? MLS stands for the "Multiple Listing Service". It is a software used by local realtors that contain all of the market data for home sales in your area. If you decide to raffle your house, just think at the data you could derive if you had access to a local Realtor contact who would share this data with you. You may have to pay for the data this person provides you but that is quite ok. The Realtor must pay for these services themselves. It is only fair that they charge a fee to recoup their fees.
What is your house worth on the open market? If you were trying to sell it before you decided to raffle your house, you probably have a good idea of what your house isn't worth. What I mean by that is, if your house did not sell, there is a high possibility that it was overpriced. Is your house a decent house in a good neighborhood? Did your Realtor show your house on several occasions? Did any nearby homes receive offers? Did your Realtor have a realistic marketing plan? Before determining how to conduct your house raffle, you better have a realistic, conservative idea on your home's value in a depressed market.
Before You Raffle Your Home
You could pay for an appraisal, but that out of pocket expense would be unnecessary. An appraisal could easily cost you $500+. You should save that money and invest it into your online or internet raffle expense. By getting a local real estate agent to do a "CMA" comparative market analysis, you can come pretty close to determining the market value of your home. Once you determine the market value of your home, you can then start to set a price on your raffle tickets and how many you need to sell.
If you do not have a local contact at a real estate company, make a call. Speak to an agent and tell them you are interested in listing your home. Whatever you do, do not mention that you intend to raffle your house. I'm not advocating that you ask the agent to spend a bunch of worthless time with you. An experienced agent can spend just a few minutes in the MLS system and e-mail you a price range that your home may be worth in a half hour or less. Believe me, they are eager to help. Once you have done this little bit of homework, you will be ready to proceed.
View my first post How To Raffle Your House.
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Serena van der Post says:
3 months ago
This was very successful, but I can't figure out why. The place was losing money hand over fist as a business, really isn't even very attractive and is located in one of the rainiest areas of England. People should look up the Scott's Hotel project on the island of Majorca -- ten really glorious holiday homes -- if they want a valuable vacation home for a small ticket price. The site is something like scottsraffle or scottsgiveaway -- I don't have it handy, but I bought a ticket and plan to win one of the houses.