Half of Moneywise users would raffle their home to secure a sale

8 September 2017

More than half (52%) of Moneywise users would try raffling their home to secure a sale, our latest poll results reveal.

This figure is broken down into two in 10 (22%) who would raffle their home without trying other sales routes, and three in 10 (30%) who would raffle their home but only if all the traditional sales routes, such as using an estate agent, had been exhausted.

A further 16% said they wouldn’t raffle their home but they would consider marketing their property using social media instead.

An additional three in 10 (32%) Moneywise users said they wouldn’t raffle their home or use social media marketing.

Moneywise asked users if they’d consider raffling their home after a lady in Warrington recently won an £850,000 manor in Lancashire after the owner raffled 500,000 tickets at £2 each. He came up with the idea after struggling to sell his home at the asking price via the usual routes.

If you do decide to raffle your home, you need to ensure you don’t break gambling laws, which state that lotteries or raffles must only be used to raise money for charitable causes. In the case mentioned above, the homeowner got around this as his ‘raffle’ was, in effect, a prize competition, as it had a test of skill involved by asking entrants to say whether the house was Georgian, Tudor or Victorian.  

See the full poll results in the pie chart below:

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