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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.
Location: central, between Pepe's Tacos and Roberto's
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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.
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.
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
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.
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!
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
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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