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Old 02-12-2008, 07:18 PM
 
Location: Houston, Texas
469 posts, read 1,480,257 times
Reputation: 295

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Are foreclosure bus tours in good taste for realitors to run? I recently saw a news breif on this subject. Two agents in sacramento, california have put together bus tours of all new foreclosures every week.
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Old 02-12-2008, 07:48 PM
 
6 posts, read 35,082 times
Reputation: 18
With all of the foreclosures we will be having over the next few years, I think we will see more of these types for tours.

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Old 02-12-2008, 11:38 PM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,825,161 times
Reputation: 958
I personally think that they are ridiculous. I personally would feel like a fool being herded on a bus and forced to home shop on someone else's timeline. The Realtors I choose to do business with (both personal and on a professional level) better give my clients and I a very personal and committed 100% of their time and energy. I also don't believe that they are going to see any serious investors on these bus tours, as the serious investors are 2 steps ahead of the game.
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Old 02-12-2008, 11:44 PM
 
Location: East Tennessee
3,928 posts, read 11,550,598 times
Reputation: 5259
Some Realtors are doing the foreclosure bus gig in Tampa as well. It's kind of deja vu that when DH and I were into real estate investments in the early 2000's that the bus tours were conducted by investors.
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Old 02-13-2008, 10:49 AM
 
Location: WNY
1,049 posts, read 3,843,059 times
Reputation: 274
I think its a great idea to get folks to see a number of homes at one time, call me crazy. If its that crazy with forclosures where you are, then I would be all for it. It seems to me, everyone wins here
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Old 02-17-2008, 12:15 AM
 
Location: Knoxville
1,155 posts, read 3,373,575 times
Reputation: 372
Its a great idea, its about marketing, or like going to an auction, as it increases the possibility for the agents. Physcology at its best.
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Old 01-14-2009, 06:24 PM
 
1 posts, read 3,740 times
Reputation: 10
I personally think that you have to involve realtors to have these bus tours. The "bank owned" real estate goes to the real estate offices first. They see these properties months ahead of time. And there is just so much inventory, that the bus tours are the way to go. Seasoned investors don't have enough money to buy all the good deal. Plus, if they are that seasoned, they wouldn't even be looking at single family homes, they would be buying multi-units. So, for anyone looking for a great deal, I think that foreclosure bus tours are the way to go, especially if you are looking to get more info about the area or looking to find local contractors, inspectors, etc.

The inventory is piled up everywhere. It's so massive that home buyers and investors are tired of driving around looking at deals. So the bus tour is definitely the way to go.
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Old 01-14-2009, 06:52 PM
 
Location: NorthTexas
634 posts, read 1,553,216 times
Reputation: 327
Angry Bus tours give sellers a wide range of exposure

Quote:
Originally Posted by Daddys///M3 View Post
I personally think that they are ridiculous. I personally would feel like a fool being herded on a bus and forced to home shop on someone else's timeline. The Realtors I choose to do business with (both personal and on a professional level) better give my clients and I a very personal and committed 100% of their time and energy. I also don't believe that they are going to see any serious investors on these bus tours, as the serious investors are 2 steps ahead of the game.
I have news for you Daddy with this market where I am I can see 20+ houses a week and not even come close to seeing them all. The inventory is so high. I do not understand why a lender would say this? "The Realtors I choose to do business with (both personal and on a professional level) better give my clients and I a very personal and committed 100% of their time and energy." This sounds very snobish. I hit the ground running every morning to keep up with HUD forclosures coming on the market.

For sellers in forclosure or not this gives them excellant exposure. If I have a buyer with specific needs I can find them in some of the most unexpected places. This has happened to me more than once, so I think you pretending this is somehow degrading to your clients is something I have to call you on!
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Old 01-15-2009, 11:13 AM
 
Location: Olympia
1,024 posts, read 4,121,433 times
Reputation: 846
I'm waiting to see agents advertise "private, exclusive foreclosure tours at your convenience".
But wait, that would be like what real clients get from an agent. :P
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Old 01-15-2009, 06:43 PM
 
Location: NorthTexas
634 posts, read 1,553,216 times
Reputation: 327
Funny Sandy, I think the big Brokerages will be offering these types of tours soon because there will be so many forclosures. The title companies use to sponsor these types of things here but they can't anymore. It is funny how in my area I keep seeing the same agents at HUD's, maybe we should save on gas and start going together!
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