Fredericksburg VA Real Estate

Real Estate Agent with Fredericksburg Realty, Inc.

As written in my last post, I started up (actively) my own real estate company in Fredericksburg VA.

Fredericksburg Realty Inc became a player in the Fredericksburg Virginia real estate market.  Now that I look back on our track record since inauguration, I feel somewhat surprised.

Prior to making the move, we did not get into the Fredericksburg short sale or foreclosure market.  Now that I am doing business as Fredericksburg Realty I am considering whether or not to take the leap.

Let me give you a little history: several years ago I did a BPO for a large lender; sent all of the data  asked for and I am still waiting for the money they promised they were going to send.  That has left a bad taste in my mouth for BPOs.

Friends of mine who do short sales tell me that the asset managers work them to death and then want them to work at a reduced commission rate.  Knowing full well that discussions of commission rates are illegal, I will leave it there.

What think you?  Should one take a giant step into the short sale arena by advertising for that business?  Should one reply to one of those hideous "spam" emails that come in so regularly offering you the opportunity to get into the BPO arena?  What is the best way to get lenders to come to you for listing their foreclosures?


Comments (2)

Betty Westerlund
Keller Williams Realty - Fredericksburg, VA

You pose a GREAT question... how do you know if you should get into Short Sales?  They are notoriously tedious and the bank is in full control.  You can work your tail off and still not get to closing.  I think if you have the time to be on the phone with the bank all day, then do it. Otherwise, spend your time generating leads elsewhere. The problem is, at the moment, the Fredericksburg market (and a lot of other places) has lots of distressed property - short sales and foreclosures. I refer my Short Sales to a coworker who specializes in them.

Feb 24, 2010 03:32 PM
Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

Somehow, I've managed to do just fine in real estate for 41 years without actively seeking short sales or bank properties. I suspect my quality of life is a little better than it is for folks who do handle those properties. Just sayin'.

Mar 30, 2014 02:07 PM

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?