reo: New President..........what changes will we see????? - 01/20/09 11:32 AM
I'm sitting here listening the President Barack Obama give is inauguration speech and I'm wondering like many of you what changes can we expect in the near future? For those of us in the REO business are things going to speed up?......slow down?........change in some way?........ I'm being told to lace up your running shoes because the flood gates are getting ready to open.
What do you think?.........What have your heard?..........
Speak
Bryan Knight, REO Specialist in Las Vegas, NV
Follow me at www.twitter.com/KnightREO
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reo: Foreclosure prevention programs ineffective??? - 01/18/09 06:58 PM
According to RealtyTrac "
Foreclosure filings were reported on 2.3 million U.S. properties in 2008, an increase of 81 percent from 2007 and up 225 percent from 2006, according to the RealtyTrac U.S. Foreclosure Market Report released today.
The steep annual increase came despite a quarterly decrease in the fourth quarter after nine consecutive quarterly increases. And the fourth quarter decrease came despite a surge in foreclosure activity in December. The conflicting trends come largely as a result of artificial pressures on the foreclosure market, according to RealtyTrac CEO James J. Saccacio.
"Clearly the foreclosure prevention programs implemented to-date have not had … (0 comments)
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reo: Another great NFSTI (National Foreclosure Sales Training Institute) class!!! - 01/18/09 06:07 PM
I just attended my second REO / BPO training class from NFSTI (National Foreclosure Sales Training Institute) and it was awesome!!!! I picked up even more tips and tricks to pick up more business and to better service my clients. It also got me motivated to get to work even harder to prospect for more business and to better secure my relationships with my current clients.
I also found out that Lowell Caro Jr. and myself may have an opportunity to join NFSTI as instructors!!! I'm stoked about the opportunity to travel and teach and share my experiences and knowledge with … (2 comments)
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reo: Diversification.........How many REO accounts are you carrying???????? - 11/26/08 12:31 AM
After the huge cuts that Wells Fargo did throughout the country, our mastermind group discussed being better diversified that just having 1 or 2 BIG accounts and take the chance that one of those accounts can be pulled from you overnight for whatever reason.
So now I'd like to know on average how many REO accounts that the average REO agent carries at any one time.
Personally from my current inventory, I'm carrying 6 REO accounts.
So from your current inventory now, how different clients are represented? Just state the number, no need for names.
Bryan Knight, REO specialist in … (11 comments)
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reo: Getting into the REO game!!! How do you do it???? - 11/19/08 02:02 AM
One of the most common things that I hear nowadays front agents looking to get into REO or BPO is "I've signed up with an REO or BPO company after company and I've yet to receive any orders from anybody!". Most of the emails that I get are somewhere along that line. I like to equate the problem to sports. You do enough to make the team (signing up for the company), and now you're on the team, but you're RIDING THE BENCH!!! So now you want to know "Hey coach what do I have to do to get into the game?"(actually get … (1 comments)
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reo: LAS VEGAS REAL ESTATE / REO STATISTICS FOR NOVEMBER 6TH 2008 - 11/06/08 03:25 AM
This is interesting stuff. Look at the 60% number for vacant homes on the market. That's more than 1 out of every 2 houses that are for sale in Las Vegas is vacant! Wow. Also over 60% of the real estate listed in Las Vegas, NV is either a short sale or it's REO.
Bryan Knight, REO specialist in Las Vegas, NV 702-845-8435
Follow me at www.twitter.com/KnightREO
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reo: Tales of a Las Vegas REO agent Part 3!!!! - 08/31/08 05:57 PM
Ok, new update to the Las Vegas REO tale. Since part 2 we've closed the two that were in escrow and have 3 more in escrow. I've picked up another big client that's I've been looking to work with for awhile now (Servicing 3 REO clients now)!! It's been a huge learning curve, but now I've got a handle on whole thing. I've formed a corporation and I've hired a full time assistant to help with the administrative portion of the business. The administrative side is HUGE in REO and any one person that has any kind of significant numbers of … (10 comments)
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reo: INDYMAC USING DEFAULT SCHOOL??? - 08/13/08 12:21 PM
I just got an email yesterday about IndyMac using default school for training for thier current and new agents. Did anyone else get this?
Dear Indymac REO Agents and Brokers,
On August 11, Indymac is introducing a mandatory formal education initiative as part of the application process and existing network REO brokers and agents.
This initiative includes a curriculum of multiple training courses.
The first course is REO Best Practices. This course provides an in-depth overview of how to manage an REO property. The second course is Advanced Evaluations. Advanced Evaluations provides substantial video training that will increase … (25 comments)
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reo: Tales of a Las Vegas REO agent!!! Part 1 - 06/24/08 08:56 PM
I wanted to do something that I wish I had found when I was looking for information about getting into the REO business. I'm going to chronicle my journey of becoming a Las Vegas REO agent.
Ok to begin with about a year ago, I got started really looking hard at how to get my foot in the door of the Las Vegas REO world. About a year and a half ago myself and one of my business associates were introduced to a website that was a pay site that had some REO training, certification program and most importantly, a list … (9 comments)
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reo: 2008 Five Star conference - 06/08/08 04:58 PM
Who's going to the 5 star this year? Anybody already signed up?
Bryan Knight in Las Vegas, NV
Follow me at www.twitter.com/KnightREO
Check out Tales of a Las Vegas REO agent.
… (21 comments)
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reo: Short Sale Your Las Vegas Property!!!! - 04/07/08 01:28 AM
As more and more Las Vegas homes fall prey to the big, bad foreclosure monster, lenders have become more and more apt to working with homeowners and real estate professionals to successfully negotiate a short sale. I have been doing short sales for the past years and half and have had the opportunity to watch lenders loosen their short sale criteria and began to accept more and more short sales. This is great news for Las Vegas homeowners and gives them another real alternative to just walking away from their homes and letting it go to foreclosure. Even better are the … (0 comments)
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reo: BPO/REO Sites that you have to pay to belong to?? - 03/07/08 01:50 AM
I wanted to get a good feel for everyones experiences with BPO and REO sites that require you to pay up to join the site and what your experiences have been with those sites. In my view any BPO site that you have to pay for should kick out listings to the members.
Please add your experieces with any of the pay for companies.
Check out Tales of a Las Vegas REO agent.
Bryan Knight REO specialist in Las Vegas, NV 702-845-8435
Follow me at www.twitter.com/KnightREO
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reo: The Potential of BPO's$$$$$$$ - 02/12/08 11:59 PM
Hello all.....Me and my friend and partner went an "Into to REO" class today. Now neither of us were brand new to this REO business, we went mainly because it was taught by the top REO agent in Las Vegas and we wanted to hear him speak. As a matter of fact, we were the only two agents in the room that had any kind of REO listing or BPO experience. The class was so good information that was more geared toward educating the agents that were putting in offers on his 500+ listing, about how the whole REO world worked … (32 comments)
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reo: Las Vegas Market Statistics for December 29th 2007 - 01/01/08 07:26 PM
Here is the latest and greatest numbers and statistics for the Las Vegas resale housing market.
We're still at 50% vacancy rate and at almost 20 months of inventory on the market. Short sale inventory is still growing as well.
Click here to search all Las Vegas properties for sale!!!! Bryan Knight, Las Vegas Real Estate Consultant, 702-845-8435 … (0 comments)
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reo: What do you as a consumer want from a great real estate website? - 01/01/08 06:40 PM
Help me help you. Tell me. What do you as a consumer want from a real estate website? What can make this website more beneficial to you? Your input is welcome.
Bryan Knight, Real Estate Consultant in Las Vegas, NV 702-845-8435
Click here to search all Las Vegas properties for sale!!!! … (0 comments)
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reo: Business Plans for 2008........... - 01/01/08 02:11 PM
Ok, enough with the "Happy New Years" and "Hope You're Great in 08". Let's get down to business. Here's the question. Do you have your business plan done for the 2008 year? Can you tell me how many leads you need to go on X number of appointments to write X number of contracts (buyer or seller) to close X number of transactions to generate X number of GCI? Then taking that GCI against your budgeted expenses (you do have a budget for expenses right?) and getting your net income for the end of the year?
If you don't have a … (2 comments)
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reo: Do you want a deal....or the right house at at the right price???? - 12/22/07 11:20 PM
With the not so sudden downturn in the real estate market, I've found more and more that when I sit down with prospective home buyers that more and more of them start talking about how they want a great deal. I then must ask the question, "Do you want a great deal, or the right home and the right price?". There is a distinct difference between the two. I can show buyers great deals all day long, but the chances that that great deal is going to fit into their criteria (location, sq footage, layout, number of beds and baths, 1 … (1 comments)
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reo: Having Standards for your Short Sale Business - 12/22/07 07:13 PM
Myself and one of my two partners are highly focused on the short sale market here in Las Vegas. The other is working REO's full time. We started out by going to a lot of different classes, some free and some for pay, that educated us on the proper way to work short sales. Through a lot of trail and error, we've come to establish some simple yet effective standards for our short sale business.
1. We only take short sales that need to be negotiated with one lien holder. Not to say that the there can't be two loans, but we'll only … (6 comments)
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reo: What you must do NOW to achieve your goals - 12/22/07 05:46 PM
Become a Productivity Warrior - and a Market Maker.
Know that there is enough business in any market for you to achieve your goals.
Become the local "Real Estate Economist of Choice."
AND, do the following 12 things:
1. Focus on seller pricing strategies
2. Master Staging
3. Learn and use creative financing
4.Bulletproof the transaction
5. Master lead capture and conversion
6.Be more proactive with internet leads
7. Get lean and mean with your expenses
8. Increase your people effectiveness
9. Get clear about your role
10. Create buyer urgency
11. Become an expert in Short Sales (maybe)
12. Lead Generate, lead generate, lead generate, and....MOFIR (Make offers for immediate responce)
Bryan Knight … (0 comments)
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reo: Mortgage Forgiveness Act Signed into Law - 12/21/07 10:19 PM
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