REO Robin Hoods

By
Real Estate Agent with The Eikleberry Group of Dickson Realty

I would love to have a blog going that talks about the GOOD GUYS in REO--here I'll start. . .

Raising my glass to servicers passing on cash offers in favor of OWNER OCCUPANCY!!!  One of my favorite servicers is working towards an 80% owner occupancy in accepting offers.  It is fantastic to be able to tell black and blue buyer's agents that their FHA buyers have a chance with these listings. 

Three cheers for: 
Agents who keep the lights on!
 
Property preservation companies who know that a DEADBOLT goes above a doorknob, not another doorknob!

Agents with 100% CFK rates--no evictions, please.  It is just plain embarrassing.
 
Local listings for local agents--if you have to fly to do a property check, it is just plain too far--don't accept it.

Signage and lockboxes--the basics never hurt.

Chime in if you have one--we could all use a little positivity here. 

Comments (6)

Syreeta Saunders
Keller Williams Realty Centre - Randallstown, MD
Keys, MBA - The Keys2Day Team

I agree with you 100%.  However, as a REO agent I have encountered situation where we've offered CFKs, and even cajoled the bank into extenidng the offer, only to be rebuffed by the owner/occupant. 

And yes - if you are in the REO business and you can't afford to keep the electricity on maybe REOs aren't for you.

 

Oct 04, 2009 09:15 AM
Vadim Zolotarevskiy
FunCoast Realty & Management, LLC - Daytona Beach Shores, FL

Pam,

You have an exceptionally good and captivating title. It is simply impossible not to stop at your blog post.

Oct 04, 2009 09:15 AM
Robert T. Boyer
FHA Loan, VA Loan, Jumbo Loan,FHA Loans,VA Loans,Jumbo Loans - La Jolla, CA
San Diego Real Estate & Mortgage Loans, Ph.D. | VA Home Loan

Great post.  Let's add property preservation companies that change the locks on the property's door, not just the security screen - because if that door ever gets closed in the locked position, there is no getting back in.

Oct 04, 2009 09:43 AM
Vic Steele
Vic Steele, Broker CA BRE 01349863 - Anaheim Hills, CA
Broker/Consultant

First post I clicked on today Pam; nice job!

We're working hard and writing owner-occupied offers out here.  It is wonderful to hear that there are other people out there that want to see owners in these homes, not crews, re-listings and slightly over-priced flips that sit on the market for months.

It is new homeowners that are going to bring pride back to neighborhoods.  Proud homeowners with confidence in themselves and the economy.  It's what the housing market really needs to help get us out of this recession.  Keep up the good work!

Oct 04, 2009 10:01 AM
Karol Yeager
REALTY FIVE of Defiance - Defiance, OH
"We choose to give"

I have a cash buyer of a REO property right now, they will be owner occupants... all sounds good right? The bank / seller put the property in a online auction, no offers will be looked at during pre-auction period!!!!!!!!! Mr. Banker you are nuts to keep a home sitting in the cold N.W. Ohio weather for another 30 or more day's when a cash buyer today is what I have for you!!!!!!! The REO systems are sooooo messed up, try explaining that to a buyer with money in there pocket and they want a home to live in and there are willing to buy in my community, GRRRRRR

Fall is here the time change is next week, it will get dark alot earlier during the next few months so REO listing agents I can't tell you enough how importantit is to have on the electricity and have working light bulbs... it sure makes a big differance!

Karol

"We choose to give"

Oct 31, 2010 04:21 PM
Karol Yeager
REALTY FIVE of Defiance - Defiance, OH
"We choose to give"

I listed REO prperties for 4 years, I know from experience you work very hard everday!!!!!!!!!!

Kudo's to REO listing agents who are out there doing good work :) :) :)

Karol

"We choos to give"

Oct 31, 2010 04:26 PM