How did the Denver Foreclosure Tour go?

By
Real Estate Agent with RE/MAX Alliance

As you may have seen from a previous post, we launched our inaugural Foreclosure Bus Tour last Saturday.  www.DenverForeclosureTour.com if you are interested.

 

I've been flooded with emails from Active Rain agents and questions from other agents in my office, generally curious about the following:

 

"How did it go?"

"How many people showed up?"

and of course, of interest to most of us making a living in this business...

"Did you get any buyers?"

 

From the top...It was awesome!   We had a 32 person bus scheduled, 10 bank owned/HUD homes to see, and a a group of 23 investors/interested parties willing to commit a chunk of their Saturday to tour these homes and spend time with a Realtor (me), Mortgage broker, Attorney, and Home Inspector.  Of these 22 attendees, approx. 10 were "unmet" prior to this event.  These are folks who responded to the direct mail, web search, or were invited by a current client.  I consider that a decent turnout of new potential clients, and to a person they were quality folks who were a joy to spend time with.

 

Our goal was not to hard sell anyone, but to offer a "rolling classroom" type setting where folks could review investment potentials,  ask questions of the onboard experts, establish rapport and learn as much as possible about the concept of Real Estate investing in the Denver Metro area.

 

The energy level was high, we powered folks up with coffee and donuts prior to getting on the bus, and then took a 20 minute drive to the first home on the tour.   The attendees quickly established conversations with our onboard experts and each other, you could certainly feel and hear a "buzz" of interest. 

 

Once in the properties, we had folks crawling over the homes top to bottom, asking questions on market value, potential rents, repair issues, financing options, etc.   We had many good group Q&A and conversations in the kitchen, basement, wherever a good question would pop up and folks would gather around to learn.  Our Attorney, Mortgage Broker and Home Inspector had many 1 on 1 and group conversations with potential future clients.

We ended up spending about 5 hours total on the tour, including drive time. We walked through or drove by 8 homes.   Comment feedback after the tour was very enthusiastic, we had direct interest in 3  particular properties that  attracted interest from tour attendees.


Any buyers?  Yes.   I took a qualified investor out yesterday for a review and selection of the same neighborhoods, and he  picked two properties to offer on.   I also have appointments scheduled for later this week to sit down and discuss specific plans for getting into Real Estate investing.  Each one of these prospects is a "new" client for me...I did not know them prior to the tour.  In addition, I have 10 new database additions with folks who are more motivated then your usual prospect.

 

All in all, a positive experience that we will repeat again after the holidays,

 

rob

"Thinking of Real Estate?  Think of Rob!"

www.RobKellyColorado.com

www.DenverForeclosureTour.com

Twitter: @RobKellyCo

Posted by

Rob Kelly-RE/MAX Realtor-Louisville, Colorado

"Thinking of Real Estate?  Think of Rob!"

www.RobKellyColorado.com

robertkelly@gmail.com

720-284-9211

Comments (3)

Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

Rob, thanks for the informative post.  I had heard of some agents doing that in our local area but it didn't seem to work.  Now that we have so many bank-owned listings around here, it might be worth taking a second look.  I know that our market would certainly support the rental side, and most of the banks I work with are getting very aggressive with their pricing so the economics make sense.  Its just a matter of finding good solid investors who are serious.  I forwarded the information on the self-directed IRA to my broker, Don Sabinske.  We'll kick the idea around.  Thanks for jump-starting me again. 

Nov 18, 2008 11:55 PM
Rob & Jeannie Steward - Realtors®
RE/MAX Advantage - Nashville, TN
We Work TWICE As Hard For You! - Ashton Group

When I saw a story about a California Realtor doing this I thought "This is the definition of thinking outside of the box!". Just wondering if you have to get agency to show these homes and be able to discuss acquiring them with the prospective buyers?

Nov 19, 2008 12:01 AM
Rob Kelly
RE/MAX Alliance - Louisville, CO
Louisville Colorado Realtor

Hi Rob & Jeannie,  in Colorado, we do not have to establish agency in order to discuss real estate or show homes.  We do have to "disclose" the different forms of agency we have in Colorado (Transaction Broker, Buyer Agent, Seller Agent).  We have a standard 1 page form that spells it out, and states "This is Not a Contract" in bold letters.  We had all attendees review and sign, and we retained for our files.

Nov 19, 2008 12:08 AM

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