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Preparing for the Wave

By
Industry Observer

Image of a gold trophy with surfer

Phoenix is loaded with REO and Short Sales, particularly the west valley (Glendale, Avondale, Goodyear, Buckeye, and Verrado) where homeowners got hit the hardest with the downturn in the housing market.   Traditional purchases are a rarity anymore.  I just did my first traditional purchase with a buyer since June of 2008.  All of my transactions have been with bank owned properties and short sales since then.  It had been so long that I found myself rethinking the traditional purchase process.  I must say, however, it was a pleasant change. 

Like many agents, I believe I've been sort of encouraged to learn the REO and Short Sale process to survive in the market place.  What first, I truly believe, was an unnoticed ripple of activity lapping the shoreline of some remote beach has become a large wave working its way to a surfing resort in Hawaii. 

I soon realized that in order to help myself and my clients prepare for this building wave of activity, I needed to become better at what I already did through education and learning.  In my quest to become more skilled in this new field,  I attended a number of programs, seminars and workshops.  I found myself participating in 5 formal programs on short sales, not many of them consistent in content or process.  I attended Tom Hayman’s programs to sharpen and learn new skills in negotiating and certified myself as a CNE and CSSN.  He does a great job by the way……see http://www.NegotiationExpertise.com.  I then jumped into the REO, foreclosure, Bank Owned  side of the skill development process and joined the National Foreclosure Sales Training Institute at http://www.nfsti.com .  I learned a lot more about this side of the business then I thought I would and decided to become an NFSTI Certified REO Specialist.  I quickly realize, of course, that I’m far from being an expert.  So much to learn in a changing and shifting world of real estate!

 

 

 

Ken Spencer
Buckeye, AZ
for Verrado, Buckeye, Sundance

Nice to be back.  Thanks for your support.  Much appreciated.

Jul 01, 2009 02:23 PM
Michael Nehmzow
Get You Moved Realty - Cedar East Bethel, MN
RDC PRO, SFR

its really nice to see people continuing to educate themselves in our everchanging business, I too believe In being a student for life. congrats on your designation and good luck

Jul 05, 2009 04:30 AM
Ken Spencer
Buckeye, AZ
for Verrado, Buckeye, Sundance

Thanks Michael.  Appreciate your feedback and acknowledgement in the education area.  I see all of us as professionals, much like the physician, lawyer, CPA, etc.  We need to keep up with our profession.   Have a great 4th.

 

 

 

Jul 05, 2009 06:30 AM
Nicole Ocean
BPO Automation Group & BPO University - Miami, FL
"Your BPO Coach"

I couldn't help but want to comment after reading your blog post Ken. First off, congratulations on having good foresight into how important it is to continue to seek education. Plus, I commend you on being able to see an opportunity to be able to transition from practicing traditional real estate into BPO, REO and short sale transactions. I'm always happy to read stories such as yours and hope that you continue to thrive in your real estate career.

Good luck to you!

Warmly,

Nicole Ocean

Jul 05, 2009 05:46 PM
Nicole Ocean
BPO Automation Group & BPO University - Miami, FL
"Your BPO Coach"

p.s. NFSTI rules!!!!

Jul 05, 2009 05:47 PM
Ken Spencer
Buckeye, AZ
for Verrado, Buckeye, Sundance

Great hearing from you Nicole.  It was truly a pleasure and eye opener listening to you speak at the NFSTI Mesa event a few weeks ago.  Your experiences and knowledge in the REO field certainly are extraordinary and the strides you've made in the BPO software development arena are very impressive.  I would urge others to read about some of what you've done.

http://www.nicoleocean.com/

Thanks much for your positive comments.

 

 

Jul 06, 2009 01:55 AM
Ken Spencer
Buckeye, AZ
for Verrado, Buckeye, Sundance

Thanks for the support Audreyjo, never ending of course, always there when needed.  Appreciate your comments as usual.

 

 

Jul 06, 2009 02:00 AM
Matthew Naumann
Exit Realty Charleston Group - Goose Creek, SC
Goose Creek, SC Real Estate Agent

Ken,

Great Post.  I am going to definitely going to look into some additional training.

Thanks for sharing,

Matt Naumann

Jul 06, 2009 11:57 PM
Ken Spencer
Buckeye, AZ
for Verrado, Buckeye, Sundance

Matt,

 

I think you'll find the REO stuff very valuable if you only use it when you represent buyers it will be a wealth of information that will help you work through  some of the frustration that comes with some of the issues you are certain to run into. 

 

Ken

Jul 07, 2009 12:41 AM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Coldwell Banker Realty

Ken - Thanks for sharing your insights.  I hope to see more of your posts here on the "Rain"!

Aug 16, 2009 01:51 AM
Ken Spencer
Buckeye, AZ
for Verrado, Buckeye, Sundance

Thanks Tony.  I hope to be more active on AR again.  A lot of great stuff and a great source for valuable information.

Aug 16, 2009 02:41 AM
Gabrielle Kamahele Rhind
KGC Properties LLC, Tucson Property Management & Real Estate - Tucson, AZ
Broker/Owner

ALOHA KEN!  But once you catch the wave - you know how to do it!  But you still have to learn, practice and keep trying all along during the ride!  --Gabrielle

Sep 10, 2009 06:27 AM
Gabrielle Kamahele Rhind
KGC Properties LLC, Tucson Property Management & Real Estate - Tucson, AZ
Broker/Owner

HI AGAIN!  PS - My dad's cousin lives in Buckeye!  I'll call the next time I visit! -- Gab

Sep 10, 2009 06:28 AM
Ken Spencer
Buckeye, AZ
for Verrado, Buckeye, Sundance

Thanks Gab.  That's a very good point.  You are absolutely correct about catching that first wave.  Practice , Practice and more Practice.

 

Sep 10, 2009 11:04 AM
Ken Spencer
Buckeye, AZ
for Verrado, Buckeye, Sundance

Please do stop by.  I'd love to meet you. We can "Talk Story" and compare notes on the Tucson and Buckeye markets.

 

Aloha

Sep 10, 2009 11:09 AM