reo agent: Stacie's REO etiquette Part 3
- 06/19/10 03:41 AM
Well Happy Saturday rainmakers.........I haven't updated my blog in a bit and I have ran into a couple more scenarios that require some attention. One that I was awoken to here on Active rain this am!! I hope you find it useful and entertaining. Now let's get down to business......... "How do I get my foot in the door to sell REO's".............Do you know that when I hear this it translates in my mind into "May I have your checkbook?" The same answer goes to both....Why would I hand you my check book or my business?? I get asked this via … (7 comments)
reo agent: "You take Sunday's off and your in Real Estate??"
- 10/11/09 05:38 AM
I just got off the phone with a buyer's agent who wanted to know the exact amount of a mello roos tax on one of my listings. Now if you know me then you know I don't have just one listing and I don't sell in one city so I don't have all the aspects of my properties in my head. I told her I have all that info in my office and will me there on Monday. She was apauled that I actually took a day off. She asked me "you take Sunday's off and your in Real Estate?? And … (20 comments)
reo agent: Stacie's REO etiquette Part 2
- 08/04/09 02:25 AM
Since the Moratorium has been going on so long, my area has seen limited inventory and agents are getting creative about how they can get their clients offer accepted. Some of the tactics used are great ideas. Other things, like the ones I am about to write about......not so good. Key Jacking.........When you go to show a property that has just been listed please don't think for a minutethat if your clients really really want the property that if you take the keys for one minute that no one after you will be a ble to see the property and thus … (5 comments)
reo agent: Stacie's REO etiquette Part 1
- 07/07/09 01:37 AM
Inventory has been low for the past year due to moratoriums and it has brought the worst out in some agents. On an average my listings see between 2 and 40 offers. Which means that every listing I have has multiple offers on it and I get to work with one happy buyer and one happy buyers agent. What else do I get????..... 1-39 mad buyers and 1-39 mad agents. Lucky for me right?? Thought being a REO agent was easy?? Well sit in my shoes just for a moment. I have to manage not only the expectations of the banks, … (28 comments)
reo agent: My new REO fav!!!
- 11/26/08 04:13 PM
My new favorite part of REO has got to be "RA," or re-assignment. I have recently gotten a couple files re-assigned to me. One was with the other agent for over 400 days and the other was 120+/- days. I got lucky since I had done BPO's inside both these complexes and knew the HOA's pretty well. I got the listing put it on the market and put together a competative BPO to help illustrate why the property sat on the market for so long and why they are in luck that they re-assigned it to me!! (wink wink) The first … (6 comments)
reo agent: NRBA
- 11/26/08 03:54 PM
If you know me or read my blog/comments then you know I admire the NRBA. I have been knocking on their door for 2 years. If you look them up you will see they have some big REO hitters who are memebers. They also a CREO designation (certified REO specialist) which I would love to attain. I have been in the biz for over 8 years and I have never WANTED anything this badly!! As of this week I got my email. They email that stated: Your NRBA Membership Process is nearly done, your application has been APPROVED! We're excited to … (9 comments)
reo agent: Did you get certified at five star?
- 09/21/08 08:35 AM
I was wondering how many agents got REOtrans certified and res.net certified while at five star?? What did you think of the courses? Do you think the certification will increase your business or exposure to banks and asset managers? I use both platforms already so I didn't take new information away but.....I did want to make sure I got certified next to my name. Then I started wondering.......I paid for one cert and it had a test and it was only offered at five star. The other was free, no test and it also was only offered at five star. Now … (22 comments)
reo agent: I need another agent!!!!!!!!!!!!!!!!!
- 09/09/08 05:17 PM
I am looking for a spanish speaking agent to add to my REO team. I can provide BPO's, education, as well as hands on learning experience. On all my REO's you help me list and maintain I will add you as a co listing agent so when you need to provide asset managers proof of REO experience you will have MLS print outs in hand. Commission splits are great and the team is a fun team to work with. I am looking for a seasoned agent who wants to learn the REO biz and subsidize their income. My team covers all … (1 comments)
reo agent: I am going to 5 star!!!!
- 09/09/08 04:47 PM
I am jumping up and down, doing the running man, and a kartwheel all at the same time!!! I signed up for the 5 star default convention in Texas months ago and now it is almost here!! Next week I get on a plane and fly to socialize, network, and learn more about a niche that I am having the most fun ever at!!!! I am so EXCITED (if you haven't noticed) I have been invited to dinner's with AM's I currently work with. Drinks with other REO agents. I can't forget about REO Speedwagon. We use to hang in the … (11 comments)
reo agent: What's going on with Indymac {part2}
- 08/27/08 05:41 PM
I work with a lender who was with Indymac previous to there doors shutting and he was the reason I applied to their REO division. One of my agents wanted me to speak with his Indymac guy since I am the REO director and his Indymac guy was saying he could get him more deals if he got on with the REO dept and if he sent him more buyers. My agent didn;t have enough experience so asked if i would speak with him. I would do anything for my agents and so I called his guy for him and was … (3 comments)
reo agent: Wanna be a REO agent????
- 08/27/08 05:07 PM
I get asked weekly "How can I become a REO agent?" and "what is the process of listing REO properties?" What's involved in a eviction?" "Who replaces locks, cleans the properties?" "What is all involve in listing REO properties?" "When the asset management company asks you to list the property how do you proceed with the contracts?" These questions are not coming from the agents who work for me but agents who like to dance in the rain!! Like myself!! Hopefully this blog will not only help agents get some questions answered but will help them on their REO journey. How do … (15 comments)
reo agent: As is, Where is and without warranties.....
- 08/07/08 03:42 PM
As is, where is, and without warranties are words I use on a daily basis. I know a thing or two about REO's and I find myself repeating these words over and over to agents to relay onto theor clients. This is a constant. Even when we are closing a REO deal I am still repeating these words on a daily basis to the buyers agent. I just closed a deal and the escrow company (who shall remain nameless) was the worst company I have EVER worked with. I never got 1 phone call returned or an email. I would talk … (20 comments)
reo agent: NRBA working with a Franchise?????
- 07/29/08 06:22 AM
That's right Michael Krein, a well-known national expert on REO sales, has been named Sellstate's executive director of franchising. Krein serves as the founder and president of the National REO Brokers Association and owner/broker of Nevada Real Estate Services. I recently took a postition as the REO director for Sellstate Estates in Mission Viejo, CA. Our REO biz and my team is a well tuned machine. I told you guys here on the rain about a month ago I had some good news coming and here it is!! What does this mean??? This means that for many years the NRBA has … (7 comments)
reo agent: What's going on with Indymac???
- 07/08/08 08:56 AM
If you haven't heard yet then this is some news form Indymac. Yesterday the shut down their wholesale and retail division. This was to my surprise since they basically are the ones I send all my REO boo boos to and they fix. Before yesterday, they would lend on almost anything!! I was concerned and had to start digging. After a lengthy conversation with my Indymac guy I learned that the retail/wholesale is being taken over by another big bank. Hmmmmm......Who could it be??? BofA??? Chase??? Wells??? By tomorrow there should be an announcement on who the bank is. (I wait in suspense) Also I was told that the REO … (6 comments)
reo agent: I want a foreclosure home!!!!!!!!!!!!!!!!!
- 06/24/08 05:54 PM
Do you know I get told this on a daily basis? Everyone wants a foreclosure. Everyone wants to list them and everyone wants to buy them. I have to laugh because I use to tell people that foreclosures were extinct. Now look at me!!! A list of assets a team of agents and my open houses are amazing. All because of one word. Foreclosure. Foreclosures are on the rise but they are a hot commodity in my neck of the woods. Did you know I recently had a buyer who fell in love with an REO that I showed them (not … (7 comments)
reo agent: New REO Director for SellState Real Estate!!
- 06/24/08 05:39 PM
That's right!! I am the new REO Director for SellState Real Estate. I have created a team of agents who I think are FABULOUS!! They are motivated, eager go getters! My AM's are excited to send me more biz now that I can handle more volume!! So watch out Orange County, CA cause I am about to get this show started and you better not blink cause you will miss us taking over! Watch out for my SellState signs coming to a neighborhood near you!! ;) When i first got into RE my number 1 career goal was to own my … (5 comments)
reo agent: Looking to create a team
- 06/13/08 03:57 AM
Do you live in Orange County, CA? Are you an active agent but biz is kinda slow? Are you looking to get into the REO biz but can't due to the overwhelming amount of agents also trying to follow suit? Are you looking to subsidize your income so you can weather the storm? Now most important are you a team player? I am looking to form a team. I work with several asset managers and I am extremely busy. I am having to turn biz away and I decided that I do not want to do that. I am looking to … (7 comments)
reo agent: BPO/REO grades
- 06/01/08 03:24 PM
Did you know you are graded on everything you do with an AM? You are graded on the quality of your BPO, the time it took you to turn it in, the pictures (following specific instruction) and if it is complete. Your REO listing is graded on all of your tasks and by each AM you come in contact with. So basically you are under a microscope the minute your profile is even viewed. Crazy huh?? I am always wondering what my grade is and I try to beat around the bush to find out what it is and they NEVER … (34 comments)
reo agent: "How do I get my foot in the door w/ REO's"
- 05/27/08 06:32 AM
<script> document.getElementById('xg_no_javascript').style.display = 'none'; </script> Hello, you need to enable JavaScript to use this network. Please check your browser settings or contact your system administrator. <script> document.getElementById('xg_jstrk_on').innerHTML = '<img src="/xn_resources/widgets/index/gfx/jstrk_on.gif" height="1" width="1" />'; </script> How do I get my foot in the door w/ REO's?? I get asked this question daily. 8 years ago I asked the same question to a well known agent in my office who did high volume and was the father of a girl I played soccer in High school with. He knew who I was but I think he looked at me as an … (9 comments)
reo agent: REO Help in Orange County
- 05/24/08 11:23 AM
On all my REO listings I have hired people from referrals from other agents and craigslist to clean out my properties and it was hard to manage home much money I had out and who I needed to pay and it was very time consuming. Each REO listing has gotten easier as I go along until this most recent one. It has been the best so far and I will never go back to doing it the old way. I was contacted by Megan the owner of Miley Home Improvements LLC. They service almost all of So Cal. I gave them … (7 comments)
I love to blog about all my funny REO situations. I also like to blog about the best water front city in Orange County. The lazy little beach town I like to call home. San Clemente.
Well Happy Saturday rainmakers.........I haven't updated my blog in a bit and I have ran into a couple more scenarios that require some attention. One that I was awoken to here on Active rain this am!! I hope you find it useful and entertaining. Now let's get down to business.........;)
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