Why does 1 agent get all the listings?

By
Real Estate Broker/Owner with Liberty House Realty LLC

Many factors go into answering this question and the truth is, I don't have the time to explain each one so, let me give you my top 3.

1. REO Experience = REO Listings; I know for many of you, this fact is frustrating but, it's a fact none the less. Why is this the case, you may ask? It boils down to what "Experience" really represents. In other words, if you have REO Experience then you have a direct knowledge through direct exposure to REO and, therefore you have the "know how" or "procedural knowledge" it takes to get the job done. Keep in mind that the rule isn't REO Training = REO Listings, it is REO Experience = REO Listings.
2. A Proven Track Record of Sales: It may be hard to believe, because your calls never get returned by that power house REO listing agent but, a REO Agent with a large number of listings has a proven track record of sales. This proven track record establishes confidence on behalf of the lender providing the listings and as long as the sales are occurring with little to no problems, that agent will continue to be given the opportunity to do so.
3. The Asset Managers are Graded as Well: Just like a REO Agent has a performance evaluation, so do the Asset Managers. If an Asset Manager is performing poorly because they have a poor Realtor in the field, it's the Asset Manager who is held liable and risking their job. The banks consider the Asset Managers ability to choose high quality, high performing Realtors as a part of their job and if they can't do that, they don't keep that job for long. This is why points 1 and 2 are critical and most Asset Managers will not budge off them.

I hope this has given you a different prospective, if you have questions, comments or concerns I would be happy to help out.

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  1. Rosemary Brooks 01/05/2010 06:04 AM
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why does 1 agent get all the listings

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Rainer
270,151
Teresa Boardman
Boardman Realty - Saint Paul, MN

wow! Some of the worst agents I know have REO listings. They don't sell all that fast so I am not seeing the track record. I just figured maynbe that is the kind of business they like so they do it and that banks just went with the lowest priced service provider. 

Mar 29, 2009 01:07 PM #1
Rainmaker
309,035
John Mayer
Oikos Realty, Cape Canaveral, Cocoa Beach Florida - Cocoa Beach, FL
Your Beach Area Expert

I agree with Teresa. Some REO agents I have dealt with were either spoon fed, lazy or annoyed that what the bank pays them doesn't cover their investment adequately. One guy always posted only one photo per listing and told me if I wanted more, to take them myself. He was too busy renovating a house and "gas was expensive". The house was 10 minutes away from him and a 40 minute drive for me.

Mar 30, 2009 02:32 AM #2
Anonymous
Eli Oliveira

I agree with the comments, the REO Realtor in the Union County and Essex County New Jersey are nothing but the worse, they just don't perform well yet they have all the REO listing, I just don't get it.

How can we crack in the code and also get some REO listing? Can any one give some clue?

Mar 30, 2009 09:57 AM #3
Anonymous
Anonymous

First I would suggest you be a member of www.REOPro.NING.com, it's free and offers it's members a list of over 175 REO BPO companies you can sign up with.

REOPro also has blogs, forums, comment walls and live chat so, it's a great place to learn more about REO.

Mar 30, 2009 10:09 AM #4
Rainmaker
411,839
Andrew Monaghan
The Monaghan Group - Glendale, AZ
CRS, GRI, EPro Associate Broker

Wow, some pent up anger there, I agree that some agents are not doing all they should but many are, they work hard to make sure the homes are sell able and do what is necessary to get them closed.

Its the same with buyers agents as well, tehy are too lazy to show, dont want to show up, send tehir clisnt to see the home and then write the contract and so on

Mar 30, 2009 10:28 AM #5
Rainmaker
153,300
Kathy Knight
Intracoastal Realty Corp - Wilmington, NC
BROKER, ABR, CRS, GRI, SFR, SRES

Experience is critical with respect to REO listings Jesus.   I agree...

Mar 30, 2009 12:40 PM #6
Rainer
79,619
Nelya Calev
John L Scott - Bellevue, WA

I agreee some are lazy, but I know I work hard to earn my listings. Its not an eazy job I don't care what others have to say

Mar 31, 2009 03:02 AM #7
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Rainer
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Liberty House Realty LLC

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