Posts Tagged ‘Ups’
Coaching Call 04-28-2011 - Shadow Inventory: Mystery REVEALED
So why are you hearing about the record numbers of foreclosures every month, but the flow hitting the market sometimes stalls to a halt? On this call, you will learn about one of the big hold-ups that delays the release of REO properties. Not to worry. This is part of the typical ebb and flow of foreclosure inventory, as banks look for solutions to improve their books. The properties ALWAYS make it to the market eventually!
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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:
So you got BLACKLISTED by an REO Client. The CRITICAL Next Move?
Hey, nobody's perfect. It happens. Suck it up. Don't get me wrong. I NEVER endorse performance to such a pathetic level that gets you on the shit list but when it happens, you need to know how to bow out gracefully. Listen, sometimes the hardest thing to do is swallow your pride. Especially when you are unjustly accused or blamed. This DOES happen in REO by the way. There is a LOT of CYA (Covering Your Ass) going on and usually the lowest person on the totem pole gets the blame for screw ups. Yep, you guessed it...the good old broker who worked his tail off and then took them blame for someone else's screwup. So how do you handle it?
Big Bank BPOs...are they different than most?
If you're not a big bank direct broker yet (and I say "yet" because you should be vigorously pursuing them as a client) then it is good practice to start doing BPOs as if you were doing them for a big bank AM. Here's what I mean.....All too often REO brokers (especially inexperienced ones) are too quick to simply "list" a few repair items and then guesstimate their costs on their BPOs. Since with many (obviously not ALL) companies this is acceptable, it becomes a common practice.
