Posts Tagged ‘REO videos’
How to Do a Follow-Up REO Inspection - Yikes! Vandals Strike!
Most REO clients require that you revisit your properties at least once every month to inspect the home for new damage or changes and to certify that it is secured from unauthorized entry. After inspection, you'll submit what is commonly called an "MMR" (Monthly Marketing Report), also known as an "MSR" (Monthly Status Report)-just a little industry lingo you'll need to know. 
In this video I'll take you with me as I check on one of my properties and show you what the banks want you to be looking for. WARNING!: If you are offended by profanity and obscene graffiti then don't watch this! (and you probably WON'T want to do REO....'cause you'll need to get VERY used to it). C'mon inside and let me show you why it's not always a good thing to be a "KING"-ha!
A Real POS! Even if an REO "Stinks" You Still Need to Fix These Things...
OK, sometimes you get an REO that you really don't even want to bother with. But it's part of the foreclosure game-you take the good, bad, ugly and the POS! A bank will certainly appreciate your ability to help them manage and dispose of their worst problem properties....especially those that no one else wants. It's important that you remember that EVERY REO deserves equal treatment-regardless of how much you may despise the house (hey look-none of us our psychics. Sometimes it's the most run down house that sells the quickest. NEVER "curb qualify" a property). So let's take a look at this beauty of a listing and I'll show you some of the things that MUST be repaired no matter how rotten a property is.
When is the PERFECT Time to Inspect your REOs?-Think RAIN!
If you REALLY want to be the guy who stands out as THE broker to use in the minds of your clients then GO THE EXTRA MILE! Rarely do I see agents getting off their butts and doing proper checks on their properties at the times they need to. For me, a rainstorm presents the PERFECT opportunity to see just how solid your homes are. Watch this video and I'll show you the kind of things you will discover if you're smart about the times that you inspect...things that you would NOT find at less opportune times. Take note of the signs of previous water issues that I point out. This is how I know exactly WHICH houses I should be visiting after a good old fashioned downpour. Your AMs will LOVE you for identifying these issues BEFORE they come up as "deal killers" later!
