A new portal offering homes to win says it is identifying itself as an estate agent – but with a difference.
Win-houses is offering vendors the opportunity to sell without having to pay commission.
Win-houses founder and property developer Mark Lockhart said: “I’ve seen three major boom and busts in my time however, the property landscape in the UK has changed dramatically for both buyers and property developers in the last decade. Win-houses has identified the problem and found a solution.
“It’s rather like getting on the property ladder through crowd-funding.”
The site is offering homes in raffles, and Lockhart said he acknowledged that there is proliferation of such ‘win homes’ competitions.
However, he said he feels confident where others have failed.
He said: “We’re not private individuals with a sob story on why we need to sell houses.
“Win-houses has spent 12 months researching and analysing our offering before going live.
“The failure of many of these property competitions is down to unreliable payment gateways, no experience of the property market, poor marketing and being too ambitious in the number of tickets sales in an unproven market.
“We have deliberately set the chances of winning our first completion at a very achievable one in 80, 000.
“Our next home prize in the south east has even more appealing odds of one in 30,000 to win. With these targets, it is very realistic to expect we will be awarding prizes. We’re in it for the long-haul.”
The first property being sold is a villa in Turkey, with raffle tickets costing £10 – said to be offering that one in 80,000 chance of winning.
Lockhart said he expects to offer three or four competitions a year.
He said his site is currently working with a number of developers, and claimed that Win-Houses will have the credibility of an organisation like Camelot.
While the company describes itself as an estate agent, it is not signed up to a redress scheme.
A spokesperson told us: “Technically we are not selling but awarding property for a nominal value.”
Comments (10)
Here’s the link for them to register for Money Laundering supervision, before they can trade legally:
https://www.gov.uk/guidance/money-laundering-regulations-register-with-hmrc
The property market’s equivalent of Naked Attraction. We’ve really reached rock bottom.
Another day, another world changing idea (that’s been done before).
I love a new idea but even more I love ambition.
THREE or FOUR competitions a year?
Come on – that’s a hobby not a business!
If it was 3 or 4 a MONTH then that’d be cautious but realistic…
Its not new – its been done before and normally ends up in disaster because they dont sell enough tickets to fund the prize. It was only last week that someone doing the same thing got done because they ended up giving a cash prize to a lower value of the property.
Let’s say he isn’t greedy…… 10% profit/commission that’s £80k and if he does 4 a year……..? Looks like a pretty tidy business to me?
As long as he can find half a million mugs/punters?
Still not sure which one I would choose when I win?
http://www.rightmove.co.uk/overseas-property-for-sale/Turkey.html?maxPrice=700000&minPrice=650000&sortType=2
Today, I’m going to call myself a solicitor. Well, technically, I’m not advising people on the law, but you know what I mean, right? And if you don’t, then even better – let’s do business! Happy Tuesday 🙂
Anyone can describe themselves as a lawyer, less so a barrister, solicitor or cilex.
£10 for a 1 in 80,000 shot, where do a sign up, what a bargain
I tried explaining this previously to someone and they just did not get it.
They would be better off going to the bookies with the odds and return on offer.