Ever thought about selling your house on Facebook or gumtree? These days there are a myriad of ways to put your biggest asset on the block and DIY a house sale. Lots of people cant stand the idea of giving a reasonable chunk of their “hard earned” to a real estate agent. Especially for something that looks, on the surface, to be a relatively simple chore.
In the UK, where eccentric things often happen, an owner put their home up as a lottery prize. The six bedroom manor house valued at £845,000, can be yours for a £2 raffle ticket – if your lucky. The Lancashire Lawyer and owner of the property has lovingly restored the old manor house but, struggling to cover the mortgage and unable to sell through normal channels, has decided to do it his own way. He will close the raffle once he has sold three hundred thousand $2 lottery tickets.
In the USA, where even more crazy and bizarre things happen, a couple are using their home as the prize in an essay writing competition. Contestants need to write 200 words on why living in the “Lakefront Dream Home” in upstate New York would be so faaaabuuulous. Oh yes as well as paying $195 dollar entry fee. Lets see how that goes.
Back in Oz, things can be a lot more conventional. The use of “For Sale By Owner” websites are still gaining traction and customers. But not enough yet to put the fear of disruption into the hearts of the conventional real estate agents.
Other options for the unconventional are to offer all your Facebook friends a finders fee to help you sell. I have seen one thousand to five thousand dollars offered up to share the deal online. You only have to find someone to Like it. I mean really like It, not just give it a thumbs up.
Not all owner sellers are doing themselves a favour. In can sometimes be a false economy as you have to know what you are doing. I personally know of cases where a vendor may have saved themselves a thirty thousand dollar sales commission (Hah! Hate those agents), while doing themselves out of an extra fifty thousand dollars on the sale price.
But the possibilities are endless if we look at our overseas cousins. Unfortunately our house prices probably make whimsical and flippant sales options highly unlikely