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Who's the Seller Behind Door #1?

By
Real Estate Agent with Melissa Schnieders Photography

After my postings on So, You want to be an REO agent and How I got Started in REO, I have been bombarded with private emails asking me to share the names and contact info of the companies I work for.  Basically, you are asking me to provide you with my seller's name and phone numbers.  Can you see how that might make me squeamish?  Another REO agent posted her take on this in the REO Group

 I understand where she is coming from.  I also don't know you nor do I know the quality of your work. I don't know if you've ever done a BPO before. I don't know if you are organized and systematized. 

But, I also know that if I provide you with a link to a lender, there are many possible outcomes.

1) You do nothing with the information provided.

2) You contact the vendor, set up an account, and nothing happens.

3) You get the opportunity to do some work.

4) You do a great job and advance in the ranks.

5) You do a poor job and get no additional work.

In any of the above scenarios, I don't see how it can harm me by providing you with information. My reputation as an REO agent is built on my work history, not who I associated with.  I also am a firm believer in abundance. I know that what I focus on expands. I am grateful to those who have helped me, so I help others.

In that vein, I do respond via email with a list of companies that I have worked with in the past. Yes, I'd even share that info with an agent in my own town. Why?  Because there's more than enough to go around and you have to prove yourself to the company.

 

Comments (9)

Laine Foegley
Foegley Real Estate LLC - South Bend, IN
Good for you, Melissa. The world needs more people who know the universe provides enough to go around so we can gratefully share what we have with others. Bless you for your attitude of abundance. You will surely prosper in life. Laine Foegley
Apr 19, 2007 02:04 PM
Brad Patshkowski
Heritage Home Loans a division of Mann Mortgage LLC - Spokane Valley, WA
Home Loans Spokane, WA
That is my philosophy exactly...some of my best friends are all LO's...we compete...but only to gloat!
Apr 19, 2007 02:10 PM
Anonymous
Roman Pavlik

Melissa:

 Congratulations on your success and attitude.  In my own market place I freely give out a lot of my ideas that I have Implemented.   I give it out freely knowing that 9 out of 10 people will never use any of my tehniques.  I my South Florida Market there are 2000 units sold per month, I only need 30 of them each month.  

I am looking to go from 100 units per year to 300 per year and I feel working with the REO Banks is the way to go.  I have a team of 5, 2 full time staff, 60 listings right now and I am working 40 hours per week.  I have my whole business systemized, and have operation manuals for positions that I don't even have yet.   I can accomodate an additional 20 listing per month.    I have bought foreclosures myself, I have door knocked to help people refinance out of foreclosure, I have worked with RELO Companies, and I would love for you to share your wisdom and let me know how can I get started to work with the REO Companies.  Should I attend a confrence? Cold Call the departments?  Drip email them?  

Sincerely

Roman Pavlik - PAvlik Real Estate Group

Remax Beach PRoperties

 

Apr 22, 2007 03:21 PM
#3
Rich Kruse
Gryphon USA, Ltd. - Columbus, OH
Melissa - Good topic and I will be sending you an email shortly !! In our little world, most of our work is for the commercial lenders on their residential and small commercial defaults. This is a good business, but most don't understand how much work it really is. I have enjoyed reading your blogs on the subject. Keep it up. Rich Kruse
Apr 23, 2007 11:17 PM
Real Estate Guy in Madison, Wisconsin
Powered by: Real Broker LLC - Madison, WI
Real Estate Guy
Melissa, I love your attitude of abundance.  You certainly are a giver.  I expect I would be a #1, read and do nothing, but I love your attitude so just thought I would give credit.
May 02, 2007 02:24 PM
Carmen Offutt
La Rosa Realty - Altamonte Springs, FL

Melissa,

SO far I have read all the not so sunny part of being an REO agent (paying the utilities from your own money, attending the evictions, changing the locks, boarding up the windows, securing the property, etc.), so far I have not heard about the positive side of it.  Is it worth it? Does it pay to do all that work?  I understand is a lot of hard work, on the other hand it does seem to be a more steady source of income.  Am I right?

May 18, 2007 10:23 AM
Patty Anaya
Reliable Realty Service - Citrus Heights, CA
Broker / Owner, Reliable Realty Service | GRI, e-P

Melissa, thanks for sharing your knowledge. I'm new in the biz and have found very few people willing to share such great information. I love reading your blogs, not only for the information, but for your wonderful attitude. Thanks again, and keep 'em comin'.

Patty

May 20, 2007 12:47 PM
John Occhi
AZ Veteran Notary Services - Marana, AZ
Mobile Notary Public/Certified Loan Signing Agent
Melissa, certainly you are a gem and a blessing to you market, I am sure.  I will be sending you an email shortly and ask for the information.  I started with BPOs back in December and have done about 200 ofhemsince the - for  companies - one is like gold, another's a flake and the 3rd I just did my first BPO , so the jury is still out.

Now Have a Blessed Day,

John Occhi, Hemet CA Realtor
Hemet CA Real Estate
Jun 22, 2007 03:25 PM
Lorinda Ward
Keffer Realty - Norfolk, VA
Serving, Hampton Roads Virginia. Norfolk, Chesapeake, Va Beach
You are correct, they will be judging you by your work and it takes a great agent to know that.  Thank you for helping agents that wants to work in the reo business!  I hope they remember you and send referrals your way when the time comes.  I know I will!
Jul 02, 2007 01:39 PM