Tuesday, January 01, 2008

Bingo! You can buy this overpriced house!

This reminds me of a certain speaker that I saw a couple of months ago at a real estate convention, who promised a "free" cruise ship vacation for everyone who signed up for  his seminar.  What's the catch?  There's always a catch...

Faced with crowds of a hundred buyers, bank loans in hand, all chasing the 20 houses he might have on offer, he organised bingo-style lotteries.

"We had ping-pong balls with numbers, just like you'd see on a TV show", Mr Trawick recalls.

"Everybody would have a number. We'd put the ping-pong balls in, spin it and, you know 'Number 22! Yoo-hoo!' They'd jump up and yell, come on up and pick which home they wanted, and leave a deposit cheque".

Source: BBC NEWS | Business | City of debt shows US housing woe

Someone captured some videos of a Trump wealth event in Vancouver that should give you an idea of the mania of crowds... the opposite of the book I'm reading right now, Wisdom of Crowds.

Especially when the event involves money.

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