Last week I wrote a post that covered some of the difficulty in marketing a Bulk REO Package directly for the seller. Unfortuneatly, some one got the complete list of homes, including addresses, and posted them on the web. Within days, this small S California REO Package was being hawked all over the web.
That did not change the fact that I am sellers Rep on the package. But in the REO Broker World, there is a huge game of smoke and mirrors that use real packages like this to attract buyers into a bait and switch game.
The Joker Broker finds a package like this and markets it as his own. Once the Joker Broker has a buyer, he simply plays bait and switch to find the buyer another deal.........
I had a comment on my blog after telling some of the issues I was running into trying to market this package of homes. I did get a responce, and have decided to give the commentor some free air time.....If anyone does not like it, then delete this post........
THe comment is below, with my responce to follow his...............
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We work directly with a Pension Fund and a Hedge Fund that provides Bulk REO Packages customized to your request. Packages range from $1M to $50M and can be zip code, City, State or Nationwide. Submit a POF and a request describing what you want. We do not work with available tapes just because of the same outcome that you spoke about in your blog. We find it to be a waste of time. Real Estate Solutions Team |
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11:06am • #1
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Brian,
To clairfy my position, I only work with sellers or seller reps that actually own inventory and are willing to prove it. I would appreciate the same clarity in your reply as well......Instead of saying, a generic phrase that I have heard and waited on literally 50 times. what I would love to hear is that you are supplying packages based on the clients LOI criteria and have a list of satisfied repeat buyers that will provide testimony to this effect. My inbox is full of the claim that they can get me custom packages, but when pushed, have no proof to offer that they have done anything at all. In fact, I keep a neat little log that prompts me to call back on these parties weeks and months into the future........the very big majority have yet to get thier deals done. The rest have given up and are back to doing something else..... Thats why I am so pleased to find real sellers who allow me to market REAL, VERIFIABLE Inventory.... Anything I write in here I can back up 100%.........My main point was that I am the Sellers Rep on this and many other smaller bulk pacakges. We can provide proof of the validity of not only the seller, but of the packages as well. If in fact you can provide any proof of your ability to provide custom packages....I will sing your praises both here and on any other forum of your chosing.... I did not mean to turn this into a challenge.......Its just so tiring to have spents SOOOOOOOOOO Long to finally be working with REAL Inventory.....No Chains...........Please be willing to prove that you are in fact able to provide custom packages, and that you have been providing these types of orders......... |
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