Posts Tagged ‘how to sell REOs’
Training Agents Who SELL Your REO Properties....Most Don't "Get" It.
So yesterday I failed...Well, actually my staff failed but that means that ultimately I was responsible. Whew....got the self blame out of the way. Is it supposed to feel good to take responsibility or is it just the right thing to do? Who knows and WHO CARES! 
Anyway, I get an email from my office manager telling me to call a particular selling broker, who was upset about how the negotiations were going on one of my listings. He really could not believe that his buyer's offer was flat out "rejected" without a seller counter right in the middle of negotiations (very short negotiations I might add...his buyer was WAY low on price). Anyway, long and short of it was that did not "believe" that banks would just stop negotiating in mid-stream and force a buyer to either walk or counter their own counter. The guy actually believed that the bank was using his offer to shop other offers. He REALLY just didn't "get it"! So how do you (and how do I NORMALLY) prevent this?
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.
The REO Life! Got a Drink in My Hand Got My Toes in the Sand...
Once you've assembled the right team you will reap the rewards of having true leverage. I'll let the video speak for itself!
A "SMOKIN'" Reason to Inspect Your REO Properties Regularly
I have never been a fan of people who teach "shortcuts". You know, some people like to paint the "dream" of getting rich in real estate by making things sound effortless and too good to be true. Well, I'm telling you first hand that it's the HARD WORK and attentiveness that you put into your REO business that will quickly propel you into the upper spectrum of income earners in the business. I know so many people who think it's "o.k" to periodically skip inspections on their vacant properties once they have determined that no one is living in the home and there's no personal property remaining. They think that it's not going to matter whether vandalism is reported 7 days after it's discovered or 14 or even 30 days later. I mean, "no one is going to know the difference right?" WRONG! You should always, 1000% of the time, visit your properties as directed by your client. Watch this video and think about what would have happened if I waited for the smoke to clear before reporting this? You think my client might have thought I wasn't on top of my homes if I didn't report THIS for a month? You judge...
