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Cheektowaga Foreclosure Tour… now how ’bout Buffalo?

This one caught our attention in a hurry.  According to Miriam Treger, an agent with Realty USA,  the concept of “foreclosure tours” came from networking with agents out of
California who are affiliated with the same national training and coaching
organization Realty USA belongs to.  

“As part of our ongoing desire to
strive to improve our real estate skills, we belong to an organization
that coaches real estate agents from all around the country, as well as
Canada,” Treger said.  “We did our research and decided we should bring the concept
here to Western New York.  We felt it would be a good way to educate
our consumers to the foreclosure market as well as help to understand the
banking side of the transaction.”
Realtor research shows that most people think of
foreclosure as just an investment, but professionals in the field are trying to educate clients that foreclosures should be included in the clients’ search for a primary residence.  Treger explains that the
owner is in financial distress, it does not follow suit that the home is in
distress, and lenders obviously don’t want to hold a high inventory of real property and
manage their well-being and the responsibilities of upkeep.

“We work together with the banks to create a smooth transaction
for all parities involved,” Treger says. “The costs do vary from lender to lender, but our hope is
to show the public how everyone benefits by considering a foreclosed home as
part of their search.

The realtors provide the tour bus, and send a packet to
each potential buyer defining what a foreclosure is and how they differ from
the “usual” purchase.  Treger says, “Everyone benefits as long we take the time
to properly educate them on the subject.  Our first tour was a great
success and we look forward to the future dates we have scheduled.  We
will do a tour each month through November 2009, at which time we will stop
for the winter and start up again in the spring.”

Would something like this work in the city? Can you imagine if realtors got together and organized these types of packages that would lead people through rebounding neighborhoods? On the tour, visitors could stop off and see the local businesses that are sprouting up… places like Urban Roots and Artspace.  Maybe there are people who would like to revisit old neighborhoods – people who might not take the time to do it on their own. It might behoove a couple of city realtors to take one of these upcoming tours to see how they work.

The next tour takes place on May 2nd, leaving at 10AM from the Realty USA office at 3830 Union Road at George Urban Boulevard.  Approximately 6 homes will be shown, and mortgage officers will be present.  Call 716.846.9401 or register at

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