Jim Mazziotti, Principal Broker and Franchise Owner of EXIT Realty Bend, located in beautiful Bend, Oregon, is an entrepreneur. In 1994 he sold his two retail music centers after building a company known worldwide for its instrument repair facilities. It wasn't unusual to have jazz legends like Sonny Rollins fly into his small town Iowa facility to spend two or three days fine tuning his saxophones. But Jim was ready for a change and entered the real estate world that same year. In 2002 Jim moved to the beautiful resort community of Bend, Oregon, to jump on a market that was as hot as a pistol. His goal was to immediately prepare to open an EXIT office in Bend. To achieve this he landed with a popular northwest franchise and learned the residential market. After just six months he placed his license with a four Star Central Oregon resort and sold vacation and luxury properties for two years. In 2005 he partnered with a friend who operated a commercial real estate firm and had great success....but....the itch to open his own EXIT office was still gnawing at him.
Jim opened his EXIT Realty Bend office 10 years to the day that Steve Morris opened EXIT Realty Corp. International. "I knew I wanted my opening to be special, and opening on the 10th Anniversary of Steve Morris's opening seemed perfect," said Mazziotti. He opened his office and watched the economy in his resort community dwindle. Sales began to slow, home prices and values were on a downward slide, the homes on market swelled to new record highs and Jim knew he needed to find a new direction...and fast.
In February of 2008 Jim received a webinar invitation from EXIT. The webinar was offering an opportunity for agents to begin taking advantage of the influx of REO properties nationwide. Jim and the three agents attended the webinar. Eight other office agents were no shows for the webinar. Jim feels they missed a fantastic opportunity.
After watching the EXIT/REO Renegades webinar, Jim, and three of his agents decided to "pool" their money, already in short supply, to purchase $500 REO Training Course and at least try something...anything...that might help their business Mazziotti said, "we threw the dice and hoped for the best.." Jim knew that without a new diversified plan for his office and the commitment of EXIT agents Bruce Carne, Linda McKissick and Rian Palfey, it would be only months before drastic measures would need to be taken to keep his office open. "Was I scared? Are you kidding me? You bet! But I knew it was time." As Steve Morris said in his Dark Horse "presentation at the 2008 EXIT International Convention, "When it's time to doctor...do your own doctoring." "So," said Mazziotti, "I put a scalpel in one hand and sutures in the other....and decided to open this thing up, fix it, suture it back up and get to work."
The REO materials arrived and Bruce Carne and Linda McKissick formed an REO Team. Rian Palfrey decided to go alone. They followed the steps carefully in the REO plan and suddenly, from almost nowhere orders for BOP's & REO's started coming in. One here, one there....and then... two here and three there. The REO properties started selling, almost flying off the shelves!
In October Jim recognized Bruce Carne, Linda McKissick and Rian Palfrey with a special EXIT Realty Bend designation of REO Specialist after meeting stringent benchmarks set and exceeding all expectations.
"The goal is to expand our REO business," said Mazziotti. "Agents in Central Oregon look to EXIT Realty Bend as a leader in the REO business and are constantly asking how we did it!" Jim said that he plans to use the success of three of his best to recruit....and to survive and excel in this challenging marketplace.
Jim Mazziotti is the Principal Broker and Franchise Owner of EXIT Realty in Bend, Oregon. He currently has 14 agents in his Bend office. He can be reached at mazz@PropertiesInBend.com or by calling directly at 541-480-8835.
For information on real estate franchise opportunities in Oregon, please contact:
Bruce Caruth, Regional Owner
EXIT Realty of Oregon