Posts Tagged ‘Mike Costigan’
Sure Signs that Banks are Getting Ready to Unleash an REO Tsunami...
Well folks, there's a few telltale signs that the REO climate is about to change.....yep, the clouds are thickening, the skies are grey and the wind is whirling around like a funnel cloud ready to whip out debris across the countryside! The REO storm appears to be right upon us. So hold on to your hats!
Ok, here's what I, and a few of my most trusted colleagues, both brokers and other REO industry "insiders" have been observing:
Want to Sell REO properties? Here's 1 Quick & Easy Way to Cut in Line...
If you haven't already taken advantage of "Uncensored REO Secrets" then invest in your copy today. It's the simplest and easiest way to discover how to jump into the business of selling bank-owned homes. As a result of the most common questions that I get from coaching members and other aspiring REO brokers that I frequently meet, I put this quick little "blueprint" together, that outlines the most critical steps that you'll need to take, and the most deadly pitfalls that you MUST avoid, in order to start getting assignments from banks and asset management companies.
Top 3 Ways that Brokers Get REO Listings...and the 1 Deadly Sin You Should NOT Commit!
I frequently discuss different strategies, that REO brokers can use, to get REO listings, on REO Rockstars calls. And because we're dead smack at the onset of home selling season, I thought I'd take just a quick minute, to share 3 of the best ways to get bank owned properties (even though some of you THICK HEADED agents may have been too lazy to sit in on my last one hour FREE REO coaching call 
. So here's the "lazy man's" way to cut in line and get your pipeline of foreclosure listings filled right up.
Why are REO Inventories Swinging Up and Down Right Now? What Can an REO Broker Do to Survive?
I get these questions daily from REO Rockstars subscribers and from foreclosure brokers that I am coaching; "What is happening with bank owned properties?" "Why are the inventory levels fluctuating so much now?" "What can I do to keep from going under?" My explanation is this: The government and the banks are trying desperately to stop this huge flow of distressed properties from hitting the market. The government, of course, wishes to preserve home ownership and neighborhood values. The banks, of course, wish to SAVE MONEY and REDUCE LOSSES. As a result, we are seeing many new programs and strategies implemented, in an effort to keep foreclosures from taking place, and to offset losses, by disposing of bad debt though other means, like short sales. An interesting note that you may or may not know, is that banks are consistently seeing about a 15 point higher return on short sales vs. foreclosures-only makes sense that they look towards these alternatives, as additional methods of property disposition.
Does this mean an END to REO is coming?
