Since the last post I finally got it with IndyMac Federal Bank. This was after paying the 900 plus dollars for the default school training for them. They hit me to two properties, so we're off and running with them. Not sure what going to happen to them with the whole FDIC deal however so I wouldn't be surprised if that relationship doesn't last long. One of my clients haven't issued out any new listings in the past 3 months. I called them and they haven't been getting any new properties from their clients, so they don't have anything to issue out to the agents. I keep hearing from those "in the know" that towards the end of January / early February to be ready because the "flood gates" are going to open out with a lot of REO properties that have been held up for a multitude of reasons are going to be released and will be hitting the market!! I love hearing that. Bring it on!!
So now I'm setting at 6 clients. I have made some good observations. I've noticed that the relationship rout of building your business is by far the fastest way to build your inventory up. There is an agent here locally got his first REO listing the same month that I did. However he currently has 300 listings to my less than 50 and he built his business with relationships, where I built mine through doing BPO's and good servicing of my properties. So it's all about the relationships!!!
What getting in by doing BPO's did for me is give me the credibility to having done thousands of BPO's and to have REO closings under my belt as well. So now I when building those key relationships, I talk from experience.
Go to Part 6
Bryan Knight, REO Specialist in Las Vegas, NV
Follow me at www.twitter.com/KnightREO
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