Special offer

Is this the Cheapest Home In New Zealand?

Real Estate Agent with Summit Real Estate Ltd ~ Stoke - Nelson - New Zealand

Hows this for thinking outside the square.


Brad Maxwell, Managing Director for Christchurch based Premier Realty Ltd has come up with what he says is a NZ first to sell his own personal home.

In his Press Release he asks the question....

Would you like the opportunity to own a 4 year old home, with 4 bedrooms, 2 bathrooms, 3 living rooms, and with 3 car garaging, that has a 2007 Christchurch City Council Valuation of $594,000 for as little as $100 ?

...and he goes on to say....

But this is an auction with a unique difference, you place your bid based on what you think will be the LOWEST bid, and if you are the ONLY person to bid that amount, you will own the property, freehold. THE LOWEST INDIVIDUAL (UNIQUE) bid, buys the home at that price, and all bids must be between $0.01 and $1,000.
For instance the seller sets a reserve of say $400,000 for their home.
The cost of a seat is $100, so there is a minimum number of seats available of 4,000.
One the minimum number of seats have been sold ie 4,000, the property will be sold.

Further details at point No. 1 near bottom of this article....[more]

Is this type of auction / draw / etc already happening here in America?
Are there any other examples of innovative marketing you are aware of that are outside the square?
Ryan Shaughnessy
PREA Signature Realty - www.preasignaturerealty.com - Saint Louis, MO
Broker/Attorney - Your Lafayette Square Real Estate Partner

Sounds like a raffle to me...  Recently, I saw a buy 1 home get a 2nd home free.  It didn't really make sense but it was easier than saying "we just cut our prices by $200,000."

Jan 18, 2009 07:39 PM
Robert Havana
Park and Protect- Alberta Real Estate License Parking - Calgary, AB
Alberta Real Estate License Parking

seems like there are a lot of gimmicks to garner publicity, but I have yet to ever see a single 'scheme' result in a legitimate sale.  It will end up just like the last 500 people who tried to sell their house with and essay contest, unsold.  You will see that house on MLS before the snoe melts.

Jan 18, 2009 09:19 PM
Robert J. Russell
Robert J Russell Companies - Dallas, TX

Imagine how much Real Estate could be sold if Realtors were more open minded to International Real Estate - selling outside their area. And its so easy.....

Jan 18, 2009 10:00 PM
Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

Hmm, will you let us know how this turns out?

Jan 18, 2009 10:41 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I've heard people trying this in the states.  With different variations on the same idea.  Check with a lawyer, it's illegal in some states.

Jan 18, 2009 11:42 PM
David Leggott
Summit Real Estate Ltd ~ Stoke - Nelson - New Zealand - International, IT


Jan 19, 2009 06:05 PM