I had heard anecdotally of people selling their properties via online raffles. 

If they fail to sell enough tickets then a cash prize is normally offered instead. 

Now it would appear this is going mainstream according to this article below.

There is now a dedicated online platform for property raffles. 

I love to see innovation but is this not an indicator of a market top?

If you can't get your buying price via the normal channels, then the raffle seems the way to go.