Plans when REO slows down

Real Estate Sales Representative with REALTY WORLD-Harbert Company, Inc.

  What are your plans when REO slows down?

It could be at least a couple of years away, but since business is pretty good as a new agent with REO and Short Sales, it has me thinking to the future.  I am just curious as to what other agents are doing to maintain their other business so there is a balance when REO slows down.

Posted by


Heather Fitzgerald

REALTY WORLD-Harbert Company, Inc.




If you need assistance in Indianapolis IN, Carmel IN, Martinsville IN, Greenwood IN, Whiteland IN, Franklin IN and surrounding areas, considering buying or selling a home, or considering the option of a Short Sale, contact us today at 317-885-8858.  We have experience in Greenwood Real Estate, Indianapolis Real Estate, Greenwood IN Short Sales, Greenwood IN Real Estate for Sale,  Franklin IN Real Esate, etc.

About the Author: Heather Fitzgerald, who has over 24 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached by phone at 317-371-2622.

Areas of Service: Greenwood IN Real Estate, Indianapolis IN Real Estate, Franklin IN Real Estate, Whiteland IN Real Estate, Mooresville IN Real Estate, Martinsville IN Real Estate, Avon IN Real Estate, Carmel IN Real Estate, Westfield IN Real Estate and surrounding areas. We are experienced Greenwood IN Real Estate Agents.

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Rebecca Schrader
Competitive Insurance of Dundee - Dundee, FL

Hopefully we'll find out sooner than later.  I can't wait for the days when short sales are an unknown.  Like they were 3 years ago.

Jul 29, 2008 05:17 AM #1
Heather Fitzgerald
REALTY WORLD-Harbert Company, Inc. - Greenwood, IN
REALTOR Greenwood Indiana Real Estate

The Short Sales are challenging, but they have brought in a steady stream of income while I have tried to build REO business.  A nice balance of SOI, REO, etc. would be great.

Jul 29, 2008 08:57 AM #2
Sidney Jimenez
Keller Williams - Miramar, FL
CDPE, Short Sale Expert, 954-665-9449,

HEATHER--I know that for many agents Short Sales is a negative event. In my view, the work that I'm putting forth today, as a CDPE, helping homeowners avoid foreclosure is going to reward me in the future. I'm building a database of advocates that will enrich my business for many years to come. The REO business is a good place to be and it has it's advantages, but lenders don't give out referrals. I'm going to stick to my guns and reap the benefits later.

Jul 29, 2008 11:56 AM #3
Rich Kruse
Gryphon USA, Ltd. - Columbus, OH

I have been working distressed assets for 12 years.  What has happened historically is that there are more people on the bandwagon when it is all the rage and less when it is not.  Eventually there will be less deals and less people chasing them.  If you focus, it shouldn't be an issue.

Jul 29, 2008 01:12 PM #4
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good luck in Real estate. I was wondering if you could give me some tips on getting REO listings.

Jul 29, 2008 10:27 PM #5
Kevin Corsa
H.I.S. Home Inspections (Summit, Stark Counties) - Canton, OH
H.I.S. Home Inspections, Stark & Summit County, OH Home Inspector

As a home inspector, I think I will be a happy camper, because I won't have to inspect so many distressed properties.

Jul 29, 2008 10:36 PM #6
Matthew Zgonc
Aksland Real Estate - Modesto, CA
Realtor, CFS, CVS

I am entrenched with both BPO, REO, short sales and regular listings. THat way when things slow down I will be set.

Aug 01, 2008 03:25 AM #7
Jeffrey Dolfinger
24/7 Realty Inc. - Poughkeepsie, NY
NRBA Member

Staying with reo's, someone will always be upside down

Aug 01, 2008 04:44 PM #8
Jason Bhattacharya
Refine Properties - Chesterfield, VA

When REO slows down--- I already got my plans set...

I'm gonna get on my horse--- and go rob stage coaches... LOL


Anyone wanna join my band of Merry Men?? :)



Aug 02, 2008 02:11 AM #9
Nick Dailey
RE/MAX Affiliates - Union, KY
RE/MAX: Northern Kentucky Real Estate - NKY MLS - Short Sale

Build you future referrals from your short sale clients.  When you do a good job for them, stay in touch.  They are likely more prone to refer you to a new retail sale b/c of your professionalism.  In this business, your income is directly proportional to the number of people you know AND stay in touch with.

Good Luck!

Aug 05, 2008 05:16 AM #10
Heather Fitzgerald
REALTY WORLD-Harbert Company, Inc. - Greenwood, IN
REALTOR Greenwood Indiana Real Estate

I too believe that REO's and Short Sales are here for the long haul, they were here before many of us even started in the business. 

Are any of you utilizing your reo buyer leads and short sale clients to build your contacts for the future?  I am starting to, we have been receiving good leads from our reo listings.

As for those Merry Men, I am sure they will be busy with reo for awhile.

Aug 05, 2008 12:13 PM #11
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