Supply and demand lies at the heart of the UK property market and this isn’t just the case for buyers and sellers. Property developers and builders are also tied into the notion of supply and demand because if there is not the demand for quality homes, these professionals will not engage the market and they will not supply new homes. Therefore, high-end property construction firms are going to be wary about committing to any project until they are sure that there is going to be a demand for this work, and this is where the concept of winning a home is interesting.
Given that so many people believe the property market is broken, it is easy to see why so many people are keen to fix it. There is also the fact that the property market sees so much money flying around at times, it is going to be attractive to many people and organisations. There has been a growing number of instances, mainly in the US but also here in the UK, which suggests that people are interested in competitions that have a home as the main prize.
Be aware of the rules regulating this style of matter
First, there are very strict rules regarding this sort of thing and people should be aware of these before they allow a property to be placed as the prize in a raffle. There must be an opportunity for people to enter without paying money and there must be an element of skill or knowledge attached to the process too, it shouldn’t be viewed as something that comes down to luck.
Due to the complex rules involved with the process and with the risks associated of not selling enough raffle tickets, you can see why many people prefer to avoid this option in the property market. However, there is a new property portal set up which regards itself as an estate agent, and it is providing vendors wit the chance to sell their property without having to pay a commission for the service.
The odds are not too appealing
This is something that will be very appealing to many people but again, the risks associated with this process means that people should be cautious. Given the price of property, having the chance to win a new home for £10 is going to be hugely appealing and there will be a lot of people buying tickets in their droves. However, Win-houses, the company behind the new portal has stated the odds of winning are around 1 in 80,000. Depending on the house the lucky winner will receive, they would be better off placing that sort of money on those sorts of odds at the bookmakers. If that comes in, the winner will be able to buy a new home with ease and still have plenty of cash left over.
Any new venture or opportunity in the property market is worth considering, but there are clearly risks involved with this style of venture. For now, most people will be cautious when it comes to this style of property scheme.