During the last month of August 2016, the housing market began to make a slight dip with fewer sales of homes than earlier in the year. If you are planning on selling your home but have decided to go the route of the new trend of using a raffle to do it, there are a few things you should know about how it works.

Selling Raffle Tickets

The growing trend in real estate is selling your home via a raffle to raise the interest in the property. While this trick works the best in a hot market with plenty of competition, it can work in a slower market to raise the price of the house without actually setting a selling price. You simply sell tickets to your raffle for a set price. Tickets can be as low as $1, or you can even have potential buyers write an essay or pay a higher amount for their ticket. It is your choice on how you want to sell your ticket in the manner that works best for you.

How Do You Raise Enough Money?

Like with traditional raffles, you sell enough tickets to reach the sale price you would normally put the house up for sale for. You calculate how many tickets you would need to sell in order to reach your desired amount and when you reach it, you stop selling tickets. If there is enough demand, it can be possible for your desired house price to exceed what you want for it, in a similar manner to a bidding war. You might have more potential buyers than you thought you would, so plan your tickets accordingly.

Once your raffle completes and you pick the winning ticket, you will have raised the amount you wanted for the house and still sold your home in a fun and entertaining way.

Real Estate Agents

You might think that using a raffle negates the need for using a real estate agent, but it is still a good idea to contact one and use their services. They can help you with the legal and financial issues of selling a home, as well as help promote the raffle for your home. The house will get listed online via the agent who can field questions from potential buyers. They can also deal with showings and help if you would like to have an open house. This is always a good idea, potential buyers want to see what they could 'win' and a real estate agent knows how to show your house off in the best way possible.  

Contact a real estate agent for more info about selling your home.