HOW DO SOME AGENTS HAVE 100′s OF lender owned PROPERTIES?
Definition(Real Estate Owned) Are you out running around with buyers showing all their listings.
With all the short sales and foreclosures in the market wouldn’t it be nice to sit back and have the offers on these properties come to you? Let other agents run buyers all over town.
DO YOU HAVE A BANK OWNED LISTING?
What if you where lucky enough to get the listing of a bank owned property? Now that you have your first foreclosure listing does this make you an official REO agent? There is so much to learn and to know what all is involved in the process of marketing and selling foreclosed homes. Some training would be very helpful at this point.
WHAT IS INVOLVED?
Do you know how long the confirmation of sale is? How long does it take for the property to have the writ of possession after sheriff’s sale? Does your state have a redemption period? What if the bank buys it back at sheriff’s sale and the seller redeems the property? Suppose the property goes to sheriff’s sale and the previous owner doesn’t leave. Once the writ of possession is in place how long does the occupant have to vacate? How is the eviction process handled? Who do you get to re key the property? How are you going to handle disposing of personal property? Who is responsible for utilities? What if there are unpaid utilities on the property because the former owner left with unpaid utility bills? Who pays them? Can they become a lien on the property? Do you know how to handle the process of marketing, inspections, BPO’s and offers? What responsibility do you have with listing the REO? Now that you have your first foreclosure listing does this make you an official REO agent? There is so much to learn and to know what all is involved in the process of marketing and selling foreclosed homes. Some training would be very helpful at this point.
MAYBE YOUR DOING SOME BPO WORK ALREADY
Definition(Brokers Price Opinion)
When doing your BPO It needs to done in a very precise way because it will affect the pricing of the property. Banks today do not want to hang on to these properties they are looking for a price to get them sold within 90 days. Pricing is important for as is properties.
ARE YOU MAKING ENOUGH MONEY?
How is your business doing these days selling bank owned and short sale properties? Are you looking for a steady income in the real estate market? Or are you thinking about getting a part time job yet, or have you already started looking? One of the agents in my office who has been very productive over the years has enrolled in nursing school. Another is starting a part time job at the end of this month. I know it is hard to make a good living in the real estate business right now. I am not quite sure why more agents haven’t gotten certified in foreclosures and learn the steps you need to know when involved in REO agent this specialized niche.
When I started in the REO business I looked at it as a way to make my business steady. I was so tired of feast or famine. It has enabled me to have the steady pay check that I needed. Especially being a single Mom of three children. I just got 2 more REO properties emailed to me in the past 3 days. And expect more by the end of the week. Two of these properties where delivered back to the bank with a deed in lieu. Both of the last properties I got are from MD Webb and associates. For someone to do a Deed in lieu instead of foreclosure is better for the previous owner because it shows that are willing to work with bank. And the bank does not have as much in attorney costs. Althought the previous owner may have been better off doing a short sale. And it is not as big of a credit hit for the previous onwer. Have you had properties that you just couldn’t sell because the seller owes more than what the market will bring? If you are in a declining market like most of us are do you know how to get the bank to do a short sale? Are you letting your clients down because you are at a loss?
Don’t you think it is time to learn how to professionally do a short sale?
WHAT IS YOUR COMPANY DOING FOR YOU?
I have been with a nation wide owned company for 19 years now and my company still does not see the significance of educating their agents in this business. With all the free continuing education they offer and seminars they are still focusing on getting more commission and not discounting our services. They are just merging more and more offices and trying to charge more fees. I have come to the realization that they are just old school waiting for the market to come back. Well guess what agents and brokers the reality is one in every 59 homes in Ohio is in foreclosure. That is a very scary number. If you don’t believe me look it up.
HOW EXPENSIVE IS IT TO BECOME CERTIFIED?
I was talking to a nationwide manger today and they are having a seminar about foreclosures for their agents to become certified in foreclosures. I have done some research for agents and brokers to find out what programs are available at a pretty inexpensive price to get this education. For less than $100.00 an agent can become certified in the foreclosure business and short sale business. Not only can you become certified you’ll get all the information you need to start building your business in REO’s and short sales.
All I can say is your missing out if you don’t make this part of your business or make it your niche. Part time jobs that pay $10.00 an hour suck.
GET CERTIFIED NOW!
Don’t you think it is time to learn how to be a professional REO agent and do a short sale?
Learn all the tips, secrets and strategies of executing the niche market of bank foreclosure the right way. If you can take and follow simple and direct instruction you WILL be successful in REO and Short Sales and your income will rise along with your closing ratio and standing among other Realtors in your community.
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