You know the times are tough when people are raffling off their mansions. Frustrated that he couldn’t sell his $3 million Ft. Lauderdale home, Miles Brannan decided to sell 300,000 $10 raffle tickets and then give his home away instead.
He has only sold 15,000 tickets so go bid people!
Raffling off real estate is actually becoming popular – business to hand these up-scale raffles are even popping up including Raffle Mansion Charity Promotion which is currently working with a home in Norfolk, Va.
These raffles allow lots of people to pay a little for the chance to win a lot and lets the homeowner walk away with the full asking price (or close to it) without the hassle of having a home on the market.
Is this the future of luxury real estate? I invite you to comment on this new phenomenon.