Master the art of foreclosures

Why take a pre-foreclosure listing?

Many agents wonder: Are foreclosure related transaction viable business opportunities? The answer depends on you.  Forecosure related transactions are worthwhile endeavors for agents who can summount the high learning curve necessary to master the art of closing these types of transactions.  If that describes you, here are some good reason to go for it!

  • Significant Opportunites:Owners facing foreclosure and lenders with bank-owned real estate properties (REOs) are looking for listing agents with those specialized skills, whereas prospective buyers are zooming in on agents who can hunt down great bargains.
  • Homeowners in Need: Agents can use their real estate expertise to help protect homeowners from those who prey upon owners in foreclosure.
  • Compensation and Referrals: At their core, foreclosure related transactions are very similar to the other transactions agents handle.  Some agents even create a new niche for themselves by specializing in foreclosures, short sales, or REOs.
  • Helping the Community: Saving a homeowner from foreclosure also can protect their community from the adverse effects of foreclosure, such as abandoned properties and vandalism.Not only do such homes become an eyesore, but they also may drive down home values in the neighborhood.

Tell me some of the experiences you have had dealing with sellers that are in default, pre-foreclosure or foreclosure and how it has either scared you away or made you want to jump in with both feet and help your client and his/her family. What has inspired you?

 
Posted by Rosemary Brooks -Mother & Daughter (866)-750-8282 on 06/27/2007 10:13 PM   Comments (7)  

7 Comments on Master the art of foreclosures

All foreclosures are not bad news.  I certainly agree with you that they can be a good investment to some people.  Here in Atlanta, we have a lot of inventory.  Great post!!

06/27/2007 10:22 PM by Open Home Mortgage - Georgia's FHA Loan Expert (Open Home Mortgage - Georgia FHA Loan # 1 Lender)

This is great information thank you for the post. 

06/27/2007 11:08 PM by Angel Jackson (Weichert Realtors Independence)

Am jumping in with both feet as we speak!  Not really certain all of the details of what exactly needs to be done, but the family needs help.  They just got in over their head.  They did not intentionally plan on defaulting on their loan.

 Any help that you can give would be wonderful!

06/27/2007 11:09 PM by

Can be lots of work and frustration... May God bless you for doing them!

06/27/2007 11:19 PM by Wayne and Lynda Gomillion (Hagan & Hagan GMAC Real Estate)


ForeclosureFocusUSA , Foreclosure Talk,  California Short Sales, REO's, and Foreclosures, Mother and Daughter (mine) blogs all have some good posts on foreclosure, short sale and other tips along that line.  It is a learning experience for us all, unless you are fortunate enough to have lived through the other years that things were bad like they are now. (not plugging other blogs, but there is really good information that you can use from these groups.

I just wish they would put together the rules in clear language where we could all just help the people that are in trouble and not have to worry about the unknown laws and fear of doing the wrong thing in the process of trying to help.  We have to do allot of research before you get the feeling that you are doing the right thing.  And time is not on the side of the process. 

 

06/27/2007 11:53 PM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)

Rosemary,

This is just what I've been wanting to hear.  I all but gave up on my pre-foreclosure marketing plan when Project Blogger began... BUT,  now I'm back in full force.  Thanks for reminding me why I love real estate!  I think I need to subscribe to your blog.  I've been directed here on keyword searches 3 times tonight!

 

07/11/2007 12:09 AM by Julie Ferenzi (RE/MAX Professionals South)

Open Home Mortgage - I totally agree - all foreclosures are not bad news.  Not only a good investment but its an opportunity to possibly help someone.

Angel: You're welcome!

Wayne: Right now the whole RE arena is a bit frustrating.

Julie: Welcome! I've invited you as an associate.  My blog is: Mother and Daughter blog.  I have several posts on foreclosures, short sales, etc.  Thanks for the interest.

There are several others that have some great informative tips and facts on this subject.

07/11/2007 10:22 AM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)

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Real Estate Agent: Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)
Rosemary Brooks -Mother & Daughter (866)-750-8282
Stockton, CA
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Family Realty Group - 866-750-8282

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www.motheranddaughterrealty.com Mother of FAMILY REALTY GROUP - Mother and Daughter Team. I truly enjoy helping others and working with my daughter has added value to my life and business! Call or TEXT me 866-750-8282 GetDownpayment.com Call brooksrm2042 from your phone! AssignREO agent directory NationalHomeSearch.com website stats Rosemary, Real Estate Professional in 95304 Agents Online Idea Center Real Estate Forums Real Estate Blogs Directory - Directory of real estate blogs
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