How to get to know your Asset Manager.

Real Estate Broker/Owner with Liberty House Realty LLC

This week's Ask the AM really spurred me into action. I hear moans and groans all the time from agent s who just don't like social networking. They gripe about how time consuming it is or they were never successful or, it's too monotonous, or..........whatever else and all I got to say is, SO BAD, SO SAD, AINT YOU GLAD YOUR MOMA AINT YOUR DAD!

As Ned points out in the article, someone is using Social Networking and taking your business. This mysterious agent has become savvy enough to create a LinkedIn profile or Facebook page and is now using it with maximum force.

You see, while your setting back, accepting those listing assignments, this mysterious agent is sharing tweets or swapping emails or learning about your Asset Manager's terrible weekend because they lost their dog Sparky (thanks Ned). Before you know it, this agent and your Asset Manager are developing a friendship vs. a business relationship. So, when the next assignment get sent out, who do you think is going to get it?

Granted, I know social networks take time to create.....I created REOPro for goodness sake however, I can't stress to each of you, your lack of involvement is at your own detriment. Now, you may never have a social network of a thousand or more or ever have a goal to reach twenty five thousand but, a well oiled social network of a few hundred and make a huge difference.

Here is the stark cold truth. Asset Managers are loosing their jobs, getting re-assigned or simply dropping out and all this is happening because the business is changing so, what do you think these Asset Managers are doing when they are no longer Asset Managers? Well, let me tell you, they are getting real estate licenses and taking over territories for their friends back at the Bank or Asset Management Companies. My point is, if you aren't on a first name basis, dirty joke telling, birthday card sending, meet up at the conference having drinks relationship....................someone else is or is trying to be.

Now, as many of you know, I try to adhere to a high standard of morals and ethics so, don't misconstrue what I am trying to say. No, you don't go put in hardwood floors at your Asset Manager's vacation home or send them a Visa Gift Card worth $5,000.00 to their P.O. Box , hopefully if you did they would refuse it but, you do call them regularly if nothing more to just shoot the breeze or say "Hi".

Let me put this another way, hopefully it will ring true to you. REOPro currently has over 18,000 invites to join our network that are outstanding. In other words, these are members who downloaded their address books in to our system and REOPro system each person an invite to join. By now, we should have blown though our goal of 25,000 member however, I am still only getting maybe 15-20 new members a day. This is contributable to the fact that many of the people who received an invite never got a follow up saying, "check out this network". Social networking is a lot like that follow up. If you don't follow up and say "Hi" or learn about people, then why would anyone want to invest in you?

I will leave you with a quote, who it came from, I have no idea but, here it is.......

"A lead will make you some money, a follow up will make you rich", I like to change that around a bit and say......

"A lead will make you some money, a active social network will ensure your kids don't have to work"


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Marcy Moyer
eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales - Mountain View, CA
Probate, Trust, and Investment Specialist

Jessie, You might want to read up a few posts and help the realtor from Oregon who is trying to find out how to get a list of asset management companies.

Aug 02, 2010 09:57 AM #1
Laura Filip
Laura Filip Broker , Opening doors for All Seasons of Life - Whitesboro, TX
What can we do for you today?

Jessi good evening please tell me more about your REO Pro site. I have just really got up and  going on the REO Side of Real Estate. It has taken me a while to get this up and running but i am getting new listings on a regular basis and was just sent a reassignment from a Broker that is top in our area. I work hard to be the Top of my field. Education is the first key to success and then action must be taken there after to SUCCEED !!!!!

Aug 04, 2010 12:25 PM #2
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