Archive for July, 2015

Jul
02

Pricing the Home in a House Raffle

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Hello All,

I hope everyone has some fun family plans for July 4th. I recall some really fun times in the Sandia Mountains with my big Italian family every year.

Most recently, I was asked a number of unusual house raffle questions: Can we set our own price for the home? Can we set our own price for the tickets? Can we continue to live in the house once it is raffled off? Can we include in the raffle our antique furniture that is in the house?

So let me start by saying that a house raffle is an opportunity for a homeowner to sell their home to a nonprofit that is going to use the home as a grand prize in their raffle. This is a sale of real-estate, and everything is negotiable. So, “yes” you can set the price of the home, but just like any sale of real estate, if you price it to high, you may not find a buyer.

Regarding the price of the ticket, it’s the nonprofit that is running the raffle, not the homeowner, and the price of the ticket must be carefully calculated. And if you want to live in the home after it is raffled, then you really don’t want to sell your home in a raffle. If you sell your home in a raffle, it is no longer yours. However, you could try to rent it back from the new owners, but that seems a bit convoluted.

Lastly, about that antique furniture, sure you can “negotiate” with the non-profit to include the furniture as part of the raffle–just remember that the nonprofit needs to have a GRAND PRIZ that is very appealing, and if the furniture increases the value and the appeal of the GRAND PRIZE, then that’s a good thing–if not, it’s a bad thing.

Okay, that’s it on those unusual questions.

To your success!

Diane Giraudo McDermott

Categories : Just the Tips
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What Others Are Saying:

“The book really does take you through the entire process. I feel like Diane holds your hand from beginning to end from qualifying the grand prize home to what happens after the drawing. I’m a homeowner and I’ve had difficulty selling my beautiful home. Now I know what it takes to sell my home in a raffle. I know exactly what type of nonprofit I need to partner with on my house raffle and what to expect. I’m excited to get started.”

-Karen L. Furguson, Homeowner in Tucson, Arizona

"Consulting with Diane by phone has been invaluable. Her knowledge on the subject of house raffles is enormous, and she has really given us a better understanding of the process as we move forward with our house raffle. She has been more than willing to take the time needed in answering all of our questions. After consulting with Diane, we feel we have a much better chance of putting together a successful house raffle and are excited about making it happen."

Chip Thompson, homeowner in Rehoboth, Delaware

"'I Sold My House in a Raffle' is an excellent example of creative marketing. The best marketers think "out of the box" and Diane shows that you can really sell your house in a raffle!"

-Ali Pervex, International Best Selling Author, 'Get Your Black Belt in Marketing', www.blackbeltinmarketing.com

“What a great marketing tool! This is a hot new method to get a property sold. My clients love this idea—I already have my first raffle house lined up. I’ll use Diane’s process to get and sell more listings.”

Jack C. Rosemary – California Real Estate Broker, 26 years experience

“I attended Diane’s workshop on February 27th, and she’s got it all together. Not only does she know how to pull off a house raffle but you can tell that she was a teacher because she knows how to convey the information. She broke the process into bite-size pieces and gave us exercises to complete so we were involved. Before anyone attempts a house raffle, they should attend Diane’s workshop–there’s more to it than one could imagine.”

-Ron Thomas, Real Estate Investor for 20 years, Albuquerque, New Mexico