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October 2008 Blog Posts (11)

REO Offers should be first, final and best

Offers on REO’s should be Last, Final and Best!

I get more complaints from prospective buyers about their offers because they didn’t get the opportunity to counter. No matter how up front I can be about the offer process it seems to never get through that most times, banks aren’t going to counter, they are simply going to accepting the best offer and, that may not be yours.

What really hammers my patience is when I get a call from a buyer’s agent that goes something like… Continue

Added by Jesus (Jesse) Gonzalez on October 24, 2008 at 1:14pm — 7 Comments

Anyone working with Carrington Mortgage..

I just received 2 listings from them, after doing proof reading on the listing agreement. I see that they would like me to give back 1% as a referral fee. Has anyone worked with them ? Any feedback or advice wil help..

thanks guys

Added by Ascharaj (Sunny) Singh on October 22, 2008 at 6:00pm — 6 Comments

Software to Manage BPO's & Listings

Can anyone give me some imput on working with a Real Estate Database or a Contact Management Program to manage my listings, sales and emails associated with them. I have been using ACT for RE without any kind of luck.

Thank you in advance,

Added by Art D Segna on October 21, 2008 at 5:52pm — 4 Comments

REOMAC 2008 Loved it!!

I am not very good at this, but here it goes anyways. Went to the REOMAC conference in Hollywood last week. What a great experience. It was everything I expected and much more. Met lots of nice people and learned a lot from the pros. I am not a member and unfortunately they are not accepting new members at this time, but I would love to become one whenever is possible, its a great organization. I went with another agent friend who is also an REO agent. Since we are in Miami, we just drove there… Continue

Added by Diana R. Lopez de Castro on October 21, 2008 at 4:30pm — 2 Comments

New with the BPO's

Hello everybody, question to all. I just registered with about thirty asset mgmt. companies how long does it usually take to get Bpo orders?

Added by chris leonard on October 15, 2008 at 12:43pm — 7 Comments

What is an REO ?

Pasted from my blog at

REO is fast becoming a household acronym, almost achieving the same success of its predecessors TV and USA. REO stands for “Real Estate Owned”. Typically, this real estate that has been designated as an REO is owned by the lending institution that has just finished foreclosing on the property. For a property to earn the designation as an REO, the property has to be vacated by the tenants and owners which itself is a… Continue

Added by Jon Lu on October 14, 2008 at 7:30pm — No Comments

My Successful Asset Manager Encounter at 5-Star

If you had the opportunity to spend 10 minutes with and Asset manger, what would you say? How would you act? What would you do? Well I have to tell you my story. While attending the 5- Star conference I actually met and AM in my REO A-Z course. She was sitting at the end of the isle that I had to access to get back to my seat during a break. Since it was still a break and she was in conversation with another attendee I stayed and listened to the conversation, introduced myself and was invited… Continue

Added by Jonathan on October 13, 2008 at 1:43am — 3 Comments

REOMAC 10/15/2008

Anyone going? Let's meet in FL and network in person!

Added by Susan Cook, RDCPro, CDPE, SFR on October 9, 2008 at 12:48pm — No Comments

REO's become extinct

If you haven’t started moving your business plan towards working with Short Sales, what are you waiting on? If you don’t do it now, you may be missing out.

It has been my experience and I am of the opinion that Short Sales are going to become the wave of the future, if they aren’t already. In fact, I have seen many of my Asset Mangers becoming much more cooperative to them and in some cases, creating infrastructure to get them closed in 14 days or less.

To explain my point… Continue

Added by Jesus (Jesse) Gonzalez on October 8, 2008 at 4:47pm — 7 Comments

CSS (Cooperative Short Sale ) Program Comming Soon!! Home Telos

Okay, gang here's what's comming down the Pike!! When this program hits the streets short sales will truly be SHORT SALES.

Anyway, myself and 4 of my agents were blessed with being selected and trained during the 5-Star Conference via Webinare, to be on the 4 front of this new program that will be comming to a city near you soon. When you see the words Home Telo's approved Short Sale , these properties will close in 30 days or less. Thats right lender approved short sales!! What a… Continue

Added by Jonathan on October 5, 2008 at 9:30am — 6 Comments

Q & A with a potential Short Sale investor.

Q: 1- What are the risks?

A: The risk when investing in Short Sales is no different than investing in any other section of the Real Estate Industry. The better question is how does one limit the amount of risk they take on when buying investment real estate? Buy low, sell high however, stay competitive and if necessary, cut your loss early and move on.

Q: Can I end up in the same boat as the sellers and lose all of my assets - i.e. condo, pension plan, bank account… Continue

Added by Jesus (Jesse) Gonzalez on October 2, 2008 at 4:23pm — No Comments

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