Posts Tagged ‘Become and REO broker’
How to KEEP Getting REO Listings...What Asset Managers want to see.
Good morning all. Just a very quick post to remind everyone that you will NOT get away with slacking on utility connections. I realize that this may seem to be a post with a very obvious meaning but I have to tell you that this is probably one of the biggest hangups that AMs have to deal with. I would roughly guesstimate that at least HALF...yeah HALF of the REO properties that I visit DO NOT have utilities activated. I also know with absolute certainty that almost ALL Master Listing Agreements contain a special section regarding broker responsibilities, specifically, ACTIVATING UTILITIES. I was reminded of this sore subject by an email received from a client today,
1 Quick and Easy Way to Get HUNDREDS of Extra Man Hours Out of Your Staff.
You know, when you do a lot of volume in REO, you spend a lot of time looking at the big picture and you sometimes forget about the small improvements that could greatly impact the efficiency and morale of your team. Sit here for just a moment now and imagine that you are sitting in your office chair trying to get a little work done. As you stare at the words on your computer screen, words that look a lot like the ones you see on your screen now, black on a white background, you begin to feel yourself tuning in. The more you stare at these words and the the tasks they represent, the more you settle into your place and get so focused that you can almost feel your chest rise and fall with each breath you take. You are in your zone, to the point that you are feeling super energized and ready to accomplish the work of two or maybe even three people. Then all of a sudden...
Haha...I'm BACK!...and You Better "Listen Up"!
Hello again REO Rockstars! As many of you know, I have been a regular road warrior lately, going cross country for weeks at a time to get knee-deep in the trenches with the big shots of the REO world. Accept my apology for the delay in new posts, but trust me, you won't think I owe you anything-nada-when you soak in all of the knowledge that I've gained to share with all of you in the next few months. In case you haven't noticed, things are changing quite a bit in our industry. Banks are telling us of MONSTROUS foreclosure numbers that are looming like giant storm clouds ready to crash down on just about every major city in the country. While many people have been listening to the b.s. being spewed out by the media that "times are getting better", I'm here to tell you that we're merely in the eye of the foreclosure storm-and a TERRIFYING storm it's gonna be.....that is, except for us REO guys!
Performing an REO Eviction
Performing and eviction on one of your REO properties may seem like a daunting task but it's really quite easy. As the broker, your role is primarily to coordinate the arrival of a crew of guys to assist in carrying the furniture and any other belongings to the curb and to assure that things such as the re-key and securing of the property take place. Once the crew is finished with their job, you simply photograph the property, install the sign and lockbox and you're on your way. Watch this video to see how simple the process really is.
SPEAK UP to Your AMs when You are Right!
Something REALLY cool happened with one of my clients this week that I thought I'd quickly share with you. Frankly, it started out as a serious "problem". I have sold REOs for this firm for just about a year now and it's always been, well let's just say, "difficult". I don't mean that it's been hard to sell their properties, but rather, it's been very hard to get "in sync" with this client's expectations. It always seemed that each AM had entirely different "rules" and "procedures" for handling properties than the next AM did-even properties from the SAME SUB-CLIENT.
