RBO – Raffle by Owner

 

RBO (Raffle by owner)

House Raffle by this generous CLer takes the surging “for sale by owner” (FSBO) phenomenon into new territory.

Details here


20 Responses to “RBO (Raffle by owner)”

  1. Stephan Wehner Says: 
    October 14th, 2008 at 7:26 amThe craigslist ad says, “It is my house and I am AZ Licensed Realtor. ”  

    Real Estate agents having trouble selling their homes?

  2. Craigslist Proxy Says: 
    October 23rd, 2008 at 4:44 amHey thanks for the share, it was actually quite interesting. I suppose Craigslist will keep growing for real estate agents.
  3. James Says: 
    October 27th, 2008 at 4:53 amStephan – yes, even Realtors are having a hard time selling in this market.  

    The real question is why craigslist would blog about an article that promotes a craigslist posting… that was flagged for removal.

    :P

  4. Aria Says: 
    October 27th, 2008 at 1:46 pmWow, how much are the raffle tickets I wonder… Then again it’s Arizona? Hmmm may have to pass even if they’re only a buck.
  5. Lana Says: 
    November 4th, 2008 at 5:41 pmI think this is a silly question. Of course people are having a hard time selling their house… even if they are a real estate agent theirself! This market has been bombarted with thousands of homes a month being put on the market… Whether it be foreclosures, short sales or regular deals.  

    The reason is because the economy is so crappy these days, it’s no wonder why people can’t afford anymore! More and more houses are being sold because more people keep losing their positions… less jobs are available… taxes and costs on everything are only getting higher and everyone is getting paid less or not as much as they deserve. It’s all a domino effect being caused by the government. Let’s not forget the stupid move that was made in 2001 also for millions of dollars being approved for mortgage loans that were too risky and wound up being not only a waste of time but a serious waste of money.

    My office does pretty good and this is coming from an administrative assistant’s point of view. Is real estate in New York just as bad? I wouldn’t doubt it! But it doesn’t mean it’s impossible to sell a house either. All it depends on is the right real estate company you choose… Are you pricing your house ridiculously compared to the market of now? Are you getting enough exposure? Is the realtor really trying their best? These are things you need to consider in the real estate market these days. Needlesstosay, if you aren’t… it’s no wonder why your listing isn’t selling.

  6. Gabe Says: 
    November 7th, 2008 at 1:01 amCan you take a shiny new penny? Im broke!
    LOL, I kinda thought it was funny. Hopefully when our new president starts his job maybe for the first time in years someone can straighten out this darn economy. I am no economist or a politics kinda guy but geez… You know its bad when even a realtor has to raffle off a house. Scary!
  7. Brenda Says: 
    November 12th, 2008 at 11:22 pmNo one would ever have said a thing if this REALTOR had not identified himself as such. He not only is being ethical and forthcoming in identifying himself but is, probably in AZ though I don’t know for sure, following the laws of the state of Arizona by identifying himself as an agent-owner.
  8. David Says: 
    December 1st, 2008 at 8:05 amHello, I have a question, will there be income taxes due on the winnings? That could wipe out the person winning the lottery. If it is like the state lottery would it be considered regular income for the value of the home? Say the assessed value is $300,000 adding that to your income would put almost everyone into the highest federal tax bracket so there would be a tax bill due of almost $100,000. and so unless you have a hundred grand sitting around…
  9. Lana Says: 
    December 1st, 2008 at 9:14 amThere is nothing wrong with identifying yourself as an agent if you are the homeowner of the house you are trying to sell. In fact, it’s not against real estate law. And there is nothing wrong with it either. As a matter of fact, it is also benefitial. You have the best of both worlds. You have a homeowner that also knows what they’re doing as far as selling their house. Whether or not it’s being put on craigslist or participated in a raffle has nothing to do with what’s the major issue here. Obviously, if even real estate agents need to sell their own homes because they already foresee this upcoming downward spiral— Mister President & the government needs to get with the program!
  10. Anthony Duggan Says: 
    December 3rd, 2008 at 3:18 pmRisky and rather gimmicky…
    I´d say just a publicity student
  11. Alicia L. Says: 
    December 4th, 2008 at 7:35 amHey, I’m also an agent so I can relate to your situation I went from six figures to no figures and guess what I lost my home. My advice to you agent to agent, you have done what’s right by disclosing your status a owner/real estate agent, Now raffle you house and I hope your bottom line is in the black.
    Good Luck!!
  12. Alma McKinney Says: 
    December 6th, 2008 at 3:32 pmHow do I post a double wide in a 55+ park in Avon Park, Florida?
    I think you have a great idea.
  13. Will Says: 
    December 12th, 2008 at 4:35 amJim,  

    Here in portland we’re trying to fire our landlords. The classifieds have all but the housing category i’m looking for. Can we put up a ‘collective / co-operative housing’ category for the people?

  14. Amie Says: 
    December 15th, 2008 at 9:11 amThis has been done successfully in Dallas before. This is an alternative to traditional selling of home; which in this market, one must think out of the box. IF you can’t sell your home because of repairs needed, owe more than you can get in this market, then this is a great alternative. Also for those buyers and or investors this is great. Even if raffles are $100 per ticket. You have a minimum participation requirement, I have even seen some have them write an essay on why they should get the home. This can be very rewarding and beneficial on both parts. I am NOT an agent/broker in Real Estate but heads up AMERICA–in 2009 start thinking out of the box for survival and the methods of the old–get ready to update to new ways my friend! A Change is Comin’!
  15. terry pacetti Says: 
    December 18th, 2008 at 7:19 pmcreative marketing is in order. we should all share trade opportunities including tips that increase product exposure. realtors need customers and after 43 years as a realtor, mortgage broker and professional auctioneer my suggestion is to place your property for sale at auction. can be done safely by using the “reserve” auction method. owner financing can be another “tip” using flexable, creative financing such as “wrap around mortgages” ” lease options,” “contracts for deed,” “reverse mortgages,”short sales,”short pays,” blended rates”land trusts” joint ventures” equity sharing,”1031 exchanges” trading property” taking trade ins,”for equity consideration. let’s be positive in our comments to each other!!!
  16. Anthony Says: 
    December 30th, 2008 at 5:08 pmThe house looks nice and the raffle seems to be a bargain at $100.00 but my question is, how much is the monthly payment on the mortgage and whats the yearly tax?
  17. George Says: 
    January 6th, 2009 at 4:09 pmInteresting concept
  18. Kim Says: 
    January 25th, 2009 at 5:47 pmwhy not give me the house fee and while you are at it throw in your car
  19. C.K. Says: 
    January 27th, 2009 at 4:03 pmCreative marketing idea. I believe when you “raffle” or “giveaway” a large value item you need to check the state and federal laws on disclosure and notices. Maybe this value is not large enough? Ever wonder why they always say, “no purchase necessary to win”?
    Also I believe many states have a filing process for “giveaways” to make sure the taxes are being collected and the sale is not concidered “gambling”. I’d get an attorney if I was the winner or seller… Everyone has good points here online…keep it up…
  20. Gordon Says: 
    January 29th, 2009 at 8:27 pmDesperate times call for desperate measures I guess. But I like the idea.  

    Just remember, there is always hidden fees so the best deal isn’t always the best deal so just keep it in mind!

    The Arizona area is one of the hardest hit markets in the US so it’s not surprising people are turning to interesting tactics. Let’s see what comes next, I like it!!

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Posted on October 2, 2008, in Uncategorized and tagged , . Bookmark the permalink. Leave a comment.

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