There were a few changes to RMLS last week. It is now possible to list a house as an auction or with a price range. Some firms (Prudential has Value Range Marketing) have a range program where the seller will respond to all offers in a range. The idea being that getting the conversation started between a buyer and seller is better than no conversation. An offer at the lower end of the range does not make any guarantees of acceptance or counter. The range can now be entered into RMLS.
Last night I received an email from fiftydollarhouse.com. The sellers were raffeling off their house providing the sell 31,000 tickets at $50 each by December 31. They’ve rescheduled the auction for January 23 and lowered the number of required ticket sales to 27,000. ($1.35M) You have until the 21st to buy tickets. The home is in Maryland. It’s an interesting idea whether it sells or not. Could it spawn an industry of professional house rafflers?