Getting a Jump Start on REO Marketing
I had no idea how to develop this niche of the market, I thought this article was very interesting..
REO marketing is where it's at in 2009, but getting started is challenging and time consuming. Now that banks are willing to use real estate agents to sell their large stock of homes, you must carefully follow procedures to get on bank lists and work with distressed properties.
There are four steps to successful REO marketing:
Applying to be a REO Agent - Every bank has a slightly different procedure.
Securing REO Listings -.Once you are the bank list of approved agents, you must systematically call and email the proper contact. When you finally reach the right person, you must maximize the call by saying just the right thing. A brief script is helpful to make sure you remember to briefly but effectively state your case.
Follow up Systems - Since many contacts are hard to reach, you must have a good follow-up plan that triggers you to continue your phone calls and drip emails to elusive prospects
Tracking Systems - You can easily use your contact manager to follow your REO listings.
By practicing your scripts daily and scheduling time to make your daily calls to your REO Banks and Asset Managers, you will build an awesome REO business. The key to success with REO's is to be consistent with your prospecting and follow up. If you discover that a REO Bank is not accepting applications from agents, put a reminder for 2 weeks and check the REO Banks website again.
Developing the system for pursuing and managing REO contacts is critical to effectively tap this growing market. That's why you might find my REO Quick Start Program an excellent way to jumpstart your efforts.
You are responsible for your success. Your diligence, coupled with persistence will help you achieve in this market, once you have the proper tools. If you have not discovered the value of coaching in your business, visit our website to at www.corcorancoaching.com.
Commitment for the Week:
Make A Commitment: I will take a few minutes now to examine if I have effective systems in place in my business. I will use some of the tips here to evaluate what I need to do to work smarter.
Deadline: _________
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