Posts Tagged ‘selling REO’
3 "Top of Consciousness" Marketing Techniques that Will Bring In More REO Listings
As you REO Rockstars already know, I am the the guy who you can always follow to cut right to the front of the line. With my little tricks and secret tactics it's like I'm always on the preferred "guest list" when it comes to getting backstage with Asset Managers who are ready to give me properties. One solid way is to create a "fun" marketing piece that's centered around holidays and/or special newsworthy events (how many of you missed the Super Bowl or Valentine's Day or the Presidential election opportunities to put a twist on a marketing piece for something that's ALREADY top of mind?). These "missed chances" are what separate the winners from the guys with their heads in their hands on the sidelines. Be sure to not miss our upcoming call on "3 Sure Fire Marketing Secrets" where I'll talk about this in more detail AND I'll reveal the other two easy-to-implement BIG IMPACT tricks. Members, DO NOT miss this one!
The #1 Safety Tip to ALWAYS Use When Entering an REO
I am ALWAYS concerned about entering an REO property, even in nice neighborhoods. The fact is that so many foreclosures are popping up that squatters and lowlifes are figuring out how to capitalize on the vacant nature of REOs (one of MY properties was actually featured on the 5:00 news the other day. THIS vagrant LOSER had re-keyed the property and was renting it out to unsuspecting tenants who we had to throw out on the street (NOT a good situation). Would you feel better if you knew how to make a potentially dangerous squatter or disgruntled former owner or tenant leave the home before you entered or would you like to end up with an image of a scowling face looking back at you in your camera while you're down in the unlit basement?
"Dipping" Into REO Preservation Profits-the LEGAL Way.
Many brokers ignore the guidelines provided to them by their clients that strictly prohibit them from profiting from property maintenance and preservation work performed on their own properties. I'll admit, the thought the enormous amount of money to be made is quite tempting...but I personally know a long time acquaintance who's sitting in the federal pen for 13 months for crossing the line and getting caught...still tempting?...not so much.
Are Fee-Based BPOs REALLY a Good Way to Get REO Listings?
I guess if you're into a lot of cruel self-punishment and are too spineless to get out there and get yourself some face time with Asset Managers then your answer might be NO....but if you want to be an REO Rockstar then you'll delete every damn fee-based BPO request the minute they hit your email and immediately set your spam filter to kill it automatically the next time it finds it's way to your inbox! OK listen, there are a lot of people who make a living doing these things.. a healthy living? I doubt it.
SLOW Reimbursements on REO Expenses...Some Firms Just Don't Get It!
It's a very tough thing to turn down business. But as a mentor of mine once said after listening to me bitch about a client; "You CHOOSE your clients Bubba". What I'm trying to say is that while it's very easy to get caught up with a client who seems to be sending you a ton of business, is that it's equally as easy to get "taken" by that very same client. You have to be EXTREMELY mindful of the "give and take" role that both you AND the client should have in your business relationship. While it always seems that you, as the broker, are held to strict deadlines, the unscrupulous client seems to just "get to things" whenever he or she "gets around to it".
