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Hi REOPro Members,
So...REOPro has been approached by a large national buyer of distressed properties whose model is to buy, fix and flip.
They are hoping to leverage our 15,000 members to bring the distressed properties from around the country that they can push through on their model to buy, fix and flip.
Right now, it appears that members will go to REOPro, click on the "Buyer Direct" tab, input their property details and withing 48 business hours, know if our national buyer is interested in learning more.
As it stands right now, access to the Buyer Direct portion of REOPro will be a paid access section with a reasonable annual fee of only $29.95.
Right now, we are working out details like referral fees...if any, offer tracking, etc......
If this all pans out, our members will be able to go out into the market place and solicit listings knowing we have a buyer who is ready, willing and most importantly able to make a deal.
Replies are closed for this discussion.
Hi John, I personally don't have the time to submit that many low ball offers that aren't going to be accepted anyway. Your theory " a blind squirrel occasionally finds a acorn" doesn't fly. I would much rather concentrate my efforts on those who see the true value in a property and make realistic offers. From a REO agent perspective who list these type property's, I resent agents who flood me with low ball offers trying to find the "one." I'm forced to present them and they always are rejected or countered back at near full price, so what is the use? It may seem to you and some others here I'm being a negative Gus, so to speak. Not true. When we do BPO's, seller gets another BPO and/or a full blown appraisal. They know what the property is worth already. To compound things, REO's are in short supply right now and its very typical to receive multiple offers and a property to sell at or above list price. These type investors are unrealistic and I have to believe they lose a whole lot more than they ever gain, if any. The concept that Jesus has come up with is good in of itself, he simply has partnered with the wrong group of investors which is why it wont last. Thanks, Steve Strong
I agree with you Steve when you said "he simply has partnered with the wrong group of investors which is why it wont last." I seen this sort of buyer direct program done before with the same intentions and I participated in that program. Unfortunately that program ended, rather quickly for the same reasons. We the agents put in a lot of work with those property submittals doing all sorts of extra research plus we were required to do a full BPO with every property submittal... and for the most part the offers were few and far between if you received an offer and they were not realistic.