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A "Magic Pill" for Getting REO Listings? Top 8 Things You Should Be Doing.

By
Real Estate Agent with REO Rockstars
So many "REO Contact Lists", "Secret Formulas" and "Get Rich Quick Selling REO" programs out there today...Really? It's enough to make a guy like me, who is a big REO broker and REO agent trainer, want to puke up my lunch! Does that mean that it's too late, too tough, or just too "flooded" of a business, to get into? Heck NO? In fact, now may just be a better time than ever, to break into the REO selling and REO listing business. With recent record foreclosure reports pouring in from coast to coast, and with expectations of those numbers being busted, month after month, in the coming year, banks are going to NEED good REO agents and brokers, to help them sell foreclosure properties. But can these BS "systems", and "home study courses", that propose to teach you how to get REO listings, REALLY get you going "overnight". as they claim? Is there some ""magic pill" that these so-called REO gurus know about that you don't. Not really. In fact, not at all. I advise other REO agents that EXACT SAME THING....REO is HARD WORK. And when you stop working, when you get "comfy", and you let your momentum slow.....YOU'RE DEAD. Yes, there ARE, most definitely, "shortcuts", and "insider tricks", that you can use, to get yourself up and running FAST, but they come with a LOT of plain old, "get your hands dirty", hard working days and nights my friend. Yet, as much as I preach this, I see so many agents sucked in by the allure of some half-baked scheme, cooked up and sold to hungry REO agent Wanna-Bees, by some REO agent, who is out to make a quick buck. Why? because the "too good to be true", is as irresistible as a hot cherry pie, until you dive in too quickly and get your tongue burned. Look, I could rant about this for hours, and people who want to learn to sell REO properties, are still going to try and take the "shortcuts". But what you must remember is this: The Secrets Are ALL Hidden in Plain Sight! If you see something that's working for someone else-just COPY it! It is REALLY that simple. Look around at what other huge REO brokers are doing, and do the EXACT same thing. That is precisely how I developed my own business when I converted to REO full time, rather than dabbling in it as I had over the years. I spent almost two years, on a rapid-fire mission, traveling all across the United States, meeting with the best minds in the REO industry. From REO Asset Managers, to top REO Agents, to everyone in between. I picked their brains and extracted knowledge like a master surgeon, took serious notes, contacted them on a daily basis, and through some Massive Action, I quickly built an REO selling business, that rips out almost 500 REO transactions every year. Am I a genius? No (well...perhaps-ha!). Truthfully, I am just smart enough to follow my own advice (see above) :-) In a nutshell, if you want to know how to start making REAL money in REO REALLY FAST, without wasting your time and money, trying to take "shortcuts" that turn out to be DEADLY, here is the best advice I can give: Don't be a fool and get sidetracked, with crap that doesn't work, while other agents pass you by and laugh. Work hard, be honorable, represent your clients with honesty and integrity and most of all respect yourself by doing the best job that you can. One principle that guides me is to always try to put good people in good homes with sustainable ownership. If you can do that you will sleep well at night. To YOUR success!

Comments (1)

jimmy farag
Realm Real Estate Professionals Galleria - Missouri City, TX
I like your post specially that I can tell the honesty in it. I don't believe in gurus and infomercials who make everything sound that it is a piece of cake and can be done with 10 hours work week. I already work 70-80 hours a week and willing to put the effort to get reo listings but the reo agents in the area don't really like to share their knowledge and the how-to either because of their limited time or don't want competition. If you can share more specific info/steps on how and where to start that will be greatly appreciated.
Aug 12, 2011 04:39 PM