Josh - We saw it on the news also and spoke to the Keller Williams agent who was on CNN with it.  He did great and the response to ours so far has been wonderful.  We are inviting past clients, investors, buyer prospects and putting out flyers at our REO Open Houses.  We think we will have the bus full which is about 45. 

Jeffrey - I'll be glad to let you know how it turns out.  We're very excited about it.  We have been holding REO Open houses during the week with an incredible amount of success so thought this would be great to go along with it.

Bo - so far we have done really well with them.  We have other tours going on in our area also, however, we still are not having a problem filling the bus and it holds 45 - 50 people.  We do have an eductional piece to ours also where we are giving the buyers information on how to buy foreclosure properties.  We have a lender, an escrow officer, and a home warranty representative along on the bus to give the buyers information also.  After our last tour, the lender took 5 loan applications that day - she was very busy.  We have only written 2 offers right after the tours but are currently working with many of these buyers and have written several offers since.

This is a lot of work - we preview all of the homes in the week prior to the tour and due to the increased activity in the marke here, we are having to make changes to the tour even the day before due to some going pending.  We try to make sure we are showing them the very best deals in the area along with giving them an education on the process. 

If you are intereste in doing one and have any specific questions please feel free to ask me.  We are having a lot of fun with it and having success at the same time. 

msholly in GA - we just started!  Just jump in with both feet!  You need to find a bus company, ours runs about $650 for 5-6 hours on a Saturday morning.  We don't have to put up anything until 10 days before the date.  We have a lender, a title company, a home warranty company and a property manager who participate in the tour...help with food, the cost of the bus, etc. and help with education with the buyers.  We have found the the education portion of our tours has been what has set us apart from other tours in our area.  We are trying to educate buyers on the market in the area, the process of buying a REO property and the process after they purchase - especially if they are an investor who is gong to rent the property out.  The education portion did take a while to develop. 

Also, we go take he buyers to approximately 12 homes - I have heard of some that jut drive by, but that doesn't work here...the buyers want to see and touch the interiors of these properties.  While they are looing at them we are continuing our education. 

The tour generally takes about 3 hours and then we return to our offce for lunch and a questions and answer period.  Last time our lender took 3 or 4 loan apps on that day.

If you have other questions please let me know.  I'd be happy to answer them.