Bill Thompson, REALTOR® : Foreclosure Bus Tours

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Foreclosure Bus Tours

By: Bill Thompson, REALTOR®
Wednesday, February 13, 2008 1:09 PM

Here is an idea I wish I had thought of. A Dallas Realtor is using a 22 passenger bus to take clients looking at area foreclosures. What's so great about that you ask. Well, since the news media wants to cover stories about the bad housing markets right now, every local news outlet is covering her story. The bus is body wrapped with her advertising but the free advertising the news media is giving her is what will really pay off. She is all over the news today here in Dallas/Ft. Worth. I love examples of thinking outside the box and using bad news to your own advantage. My hat is off to her!

Comments

Member Since '07	"Dee" Mayers said: Helloo Bill, Here is what you do, get a bus, wrap it, (I'm sure you can come up with a good wrap) and drive it around your farm. It's an idea worth stealing, don't you think? February 13, 2008 8:07 PM
Member Since '03	Gregory Bain said: Bill, if that's the market she wants to go after - she is welcome to it. She is sure to get the reputation she deserves. February 13, 2008 9:58 PM
Member Since '06	Patrick Milligan said: You are exactly right. If she plays her ards right sh could be known as the realtor who is an... The Investors Best Friend The agent in the know on great priced properties The agent most versed in foreclosure, call her if you wan to avoid foreclosure, she has the buyers The media connection to the real estate market in the area I tihnk she's really onto something, nd if she plays right she could be a hero. Pat February 13, 2008 10:11 PM
Member Since '07	Bill Thompson, REALTOR® said: Pat, Your take on this is the same as mine. I had a local talk radio station on most of the day and every half hour they repeated the story about the Dallas Realtor that is starting a bus tour for foreclosed homes...every HALF HOUR! It would cost a fortune to buy that sort of advertising on the radio. She is a Realtor I have never heard of but after all the press she is getting she may become a media "go to" expert on real estate in Dallas among the media. When they interviewed her on the radio she said, "My goal is get these homes occupied again as soon as possible, get the lawns mowed, maintain the property values of the nighborhoods." Heck, the interviewer treated her like a warrior fighting the slumping housing market head on. It was very positive. February 13, 2008 11:44 PM
Member Since '06	Chantal Gakwaya said: Wow, she really knows how to handle herself. I could see negative publicity coming real quick on that one - but she's able to turn it around. Good for her! February 14, 2008 9:20 AM
Member Since '07	Bill Thompson, REALTOR® said: Chantal, It seems we all come to real estate as a second career and I'd love to know what she did before. She may have a marketing or PR type background. She definitely handled the media well. Maybe she was a "spin doctor" for a politician. February 14, 2008 10:01 AM
Member Since '05	Karen Weger said: I personally hated the attention. Most of us are trying to build customer confidence that the market is not as bad as being portrayed. I know in my market area it is not. This kind of attention is going to hurt the industry more than help. Who is going to list their market price home? Buyers think foreclosures are bargains, when normally you end up paying market by the time you add on all of the repairs it takes to get them to move in condition. Buying a home as is, as most foreclosures are is a scary situation. I agree with ideas on thinking out of the box, but to hurt the industry and add fuel to a fire that is not as wild as portrayed by media hype is not something I applaud. February 17, 2008 8:31 AM
Member Since '06	Patrick Milligan said: Well, we have to look at the reality of things. The US housing market is not the same as it was. The only thing that stays the same is change. It will improve. I would say smart money would be talking about what is going to happen AFTER the subprime crisis hits its peak and things start to normalize. Don't think short sighted, thing with a long view. Anything someone buys now, is likely a bargain when you edge it up against the values it will have in 2-3 years. 3-6 months, maybe not so, but really, who's moving into a house for 3-6 months? Not a lot of my buyers. The time to buy real estate is now. It's always now. They are only looking to buy if they have a want or a need. The trick is to change their focus on the future and make them feel more confident in the big picture. If investment funds would only sell if there was a guaranteed upswing short term, there would be a LOT of people not buying. They are a long term investment, so is real estate. I have a line I use with people who are selling a house or piece of land that has been in the family fo a while, and it makes them feel better, and I believe it. Real Estate is an investment. When your grandfather (whoever) bought this place, he knew it, and you know, it's an investment that has matured and it's time to cash it in and move on to what's next. I am sure the proceeds are planned for something bigger and better for you, and in the big picture, that's the best you can ask your investment to do. Back to getting the clients to buy in this market, fast forward them 2 - 5 years, whatever is a better fit for them. What is the outlook? Not as bad as the short term obviously, bring the future to light, and remind them that they are getting an asset instead of lining the pockets of some landlord. Independence is worth something too. Pat February 17, 2008 10:30 PM
Member Since '07	Bill Thompson, REALTOR® said: Patrick - Good thoughts. I also like to remind people that even if homes are selling for less right now it may still be a great time to sell, especially if they are moving up. I give them this example. Sure, you may get 10% less on your $150,000 home you are selling. That is a $15,000 loss BUT if you save 10% on the new $250,000 home you buy, that is a $25,000 saving or a net $10,000 gain for selling and buying at this time. Wait until home prices are up again and you might get %10 more on the $150,000 home you are selling, a $15,000 gain but may have to pay 10% more for your new home, a $25,000 higher buying price, thus a $10,000 loss. Sometimes you see a lightbulb go on in their head and they are ready to move quickly to sell and buy. February 18, 2008 7:36 AM
Member Since '03	Team Stevens said: Hi Bill- I have not seen you on activerain. We are having great results with our indexing plus great fun in the Texas blog Group. Look us up if you are ever on the site. We are the featured agent for Galveston. Take care. Christina Stevens February 20, 2008 8:59 PM
Member Since '06	Patrick Milligan said: Thanks Bill, you inspired my next blog. Real Estate prices down! Sell now and upgrade for less! I like it.... :) February 21, 2008 10:20 PM
Member Since '07	Bill Thompson, REALTOR® said: Christina! I have missed you! I'll look for you in those other blog groups. February 24, 2008 8:03 AM
Member Since '05	Karen Weger said: Good words Bill. Thanks for sharing. February 26, 2008 7:47 AM
Member Since '07	Bill Thompson, REALTOR® said: Karen - Thanks! How's everything in your neck of the woods? February 26, 2008 9:20 AM
Member Since '05	Karen Weger said: Bill, sorry for the delay in answering. Reason for the delay is Actually really well. We are not experiencing the problems most areas are facing. I have been very busy. Real estate in Canyon Lake, Tx and the hill country is healthy. Prices are rising. I dont know how I lucked out living in this great area at this time, but I am grateful. I have worked very hard my entire life, in Houston, Dallas areas. I am good! Thanks for asking. Come join us! March 9, 2008 9:24 PM
Member Since '07	Bill Thompson, REALTOR® said: Karen, actually things are okay here in Dallas too. The one exception is that all the national bad news about real estate has some buyers thinking they can low ball on offers. Other than that, we have really not been hit as hard as other areas. March 24, 2008 3:50 PM