Edited 22 January

More than 400 people entered in the first three days, but the Gambling Commission decided it is a lottery (which needs a licence to run) rather than a competition. Graham King and Pamela Rutter have therefore stopped the draw. Everyone who entered will have their fee refunded.

I still think it’s a genius idea, and hope their creativity leads them to a successful sale anyway.

In my local paper this week was a story about a couple who are offering their house as a competition prize.

They’ve been trying to sell it for 10 months without luck, so have come up with this creative alternative to traditional estate agency marketing.

The house looks great and has been valued between £650,000 – £720,000. There are 25,000 tickets up for grabs. If they sell less than 23,400 tickets, the first three names drawn will win cash instead of the property.

The competition runs until 29 June 2012 and costs just £30 to enter. Simply visit prizeproperty.co.uk and answer three simple questions about Bromley.

It’s a lesson for all of us in these trying times:

  • Traditional advertising is on its way out
  • You have to be creative about how you find buyers
  • Anything interactive and interesting is more likely to go viral

I’m quite tempted to have a go myself!

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