Blogs - REOPRO

Changes to Short Sale Laws

According to the Indiana Association of Realtors (IAR Advocate 11/06/09), it is now Indiana state law that lenders must acknowledge short sale offers within 10 days. Under the 2008 law, lenders then have 30 days from receipt of the offer to accept or reject the offer. There is an on-line complaint form that can be filed with the Indiana Department of Financial Institutions (DFI). The DFI uses the complaints to track and establish patterns with certain lenders and use regulatory authority to inve… Continue

Added by Franklin E. Rodebaugh on November 12, 2009 at 9:39am — 11 Comments

Work A Holic Realtors and Asset Managers

I was in the office today catching up on bookwork and low and behold I received notification that I had just received two new listings. Glory be, it's Sunday afternoon and I'm in the office all by myself. Can I get everything done?? I will just say this, I was able to get the listing agreement signed, the referral agreement signed, occupancy check completed, the pictures taken of the interior and exterior of both units, contacted the other listing agent that had them as short sales to notify her… Continue

Added by Beth Ross on November 8, 2009 at 6:45pm — 16 Comments

I have an REO Listing, Now What?

Having done a number of REO listings over the years, it is still a relatively new field for many of us. I am not an expert, I learn something new every day. Please keep in mind this is meant to be humorous! 1 - Got an email today from my asset manager letting me know that I was selected to market and list their property. First though I have 24 hours to obtain an occupancy verification, gain interior access to get pictures, find out the HOA company information and any past due amounts, gain acce… Continue

Added by Beth Ross on October 1, 2009 at 6:17pm — 7 Comments

The FiveStar Conference...was it REALLY worth it?

Isn't that a question almost all of us asks? How much am I really going to spend on this trip and what am I really going to get out of it? Well, there are a number of ways to look at to determine if it's "worth it" or not. I guess we need to start by figuring out what the cost actually is. We can use the round numbers from my trip as a basis. I got a decent plane fair, an average "king" room, add in the cost of the conferen… Continue

Added by Lowell Caro, Jr on September 28, 2009 at 2:34am — 6 Comments

Agents, Agents, Everywhere....

I find that the harder I work in this REO business, the more people want from me....is this a good thing, or a bad thing? I am newer to this business, in that I am only doing this for about a year. I fought long and hard to get my chance and the number of people now who are trying to say that I am 'lucky" because I get assets from banks is incredible! There was no amount of luck to it. My chance came from following one asset from short sale into foreclosure and establishing a relationship. To… Continue

Added by Cynthia McKenna on September 27, 2009 at 8:12pm — 2 Comments

I love Ask the AM!

and this morning I am LMAO! thanks, I needed that! Continue

Added by Victoria Frieberg on August 11, 2009 at 10:05am — 7 Comments

NFSTI Seminar

What an awesome seminar this was! Full of a ton of useful information presented in an informal, casual way that allowed all questions to be addressed on all topics. The highly experienced asset manager and top REO agent who were the presenters, were a wealth of knowledge and I felt it was very worth the time and money to attend. Continue

Added by Linda McKissick EXIT Realty Bend on August 1, 2009 at 6:41am — 33 Comments

Puffing by Asset Management Companies don’t fall victim.

So, I was looking around the web the other day and came across some REO training programs, of which I will not name however, after reading their pitch I realized they were puffing like a pit viper in a ring with a charging bull. In other words, they were doing some serious puffing. I read claims like, “we are recognized as the Gold standard by Asset Managers” or “we are standardizing the default industry” and many others. To the unlearned mind, these claims would make one think this company was… Continue

Added by Jesus (Jesse) Gonzalez on July 4, 2009 at 8:51am — 4 Comments

Top 10 REO Contact Tips for Agents from a top Asset Manager

Yesterday I attended an awesome REO seminar from www.NFSTI.com, National Foreclosure Sales Training Institute in Santa Monica, California. The featured speakers were 2 top REO listing agents and we had some surprise guest speakers. One was a top Asset Manager (can't mention any names, sorry). Another guest speaker was Thomas Moore from eBrokerHouse and he demonstrated their software live! Following is a photo of top REO listing agent Pam Eikelberry from Northern Nevada, giving instruction:… Continue

Added by Regina P. Brown on April 25, 2009 at 3:09pm — 14 Comments

Let's Stage our REO listings!

Staging REOs IS an absolute wonderful opportunity to STAND OUT from the competition. Both for YOU as an agent and YOUR LISTINGS. WHY? For starters you don't have a seller right there watching your every move and seeing what you're going to do with their “collections”. You have a BLANK canvas to play with and improve upon with ANYTHING you do! And most importantly, REOs ARE NOT GOING TO GO ON FOR EVER and we are going to be going sellers again to help them sell their homes. Staging ANY home (RE… Continue

Added by Addie Scharff on March 26, 2009 at 4:18pm — 4 Comments

Asset Management Servicing LLC

Don't know if I made a mistake. I did a bpo for this company a few weeks ago and they just sent me an email accepting applications for REO broker network as their listings are increasing. Has anyone had experience with this good or bad with this company? Asset Management Servicing. Continue

Added by Lisa Waller, CRS, ABR on March 10, 2009 at 5:09pm — 5 Comments

Just picked up a great new company to work for, from this site!

Hi! Just wanted everyone to know that asset managers are looking here, and I just finished the initial bpo for a national vendor who, not finding an agent in my area, plucked me off this site. Way to go! This site is getting notice in its first year, gotta love it! Continue

Added by Victoria Frieberg on March 6, 2009 at 11:29am — 29 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

What you don't know is what you don't know

As I often do, I was reading over some of my favorite blogs today and a very interesting question came up. I was a bit shocked by some of the responses and I would like to know how our members would see the situation. I am not going to provide this agents name, state or contact information. Just think of this as a hypothetical situation so, here it goes…….. “I just got a contract on a REO I have listed, I learned through the city utility department that the house was fined $400.00 for lac… Continue

Added by Jesus (Jesse) Gonzalez on June 13, 2008 at 4:09pm — 8 Comments

It's not a myth, You are graded!!

Did you know you are graded on everything you do with an AM? You are graded on the quality of your BPO, the time it took you to turn it in, the pictures (following specific instruction) and if it is complete. Your REO listing is graded on all of your tasks and by each AM you come in contact with. So basically you are under a microscope the minute your profile is even viewed. Crazy huh?? I am always wondering what my grade is and I try to beat around the bush to find out what it is and they NEVE… Continue

Added by Stacie Cunningham on June 1, 2008 at 10:27pm — No Comments

How to Do a Good BPO – with the emphasis on GOOD!

BPO or “Broker Price Opinion” is the back bone of the REO (Real Estate Owned) industry. This is the tool that banks, lenders, investors and perhaps most importantly the asset managers use to determine the value of a property once they have taken it back at auction and again after it has been on the market for 90 or more days. For this article I will refer to all of these individuals / entities as “Asset Managers”, if that is OK. A BPO is typically tasked to two or more agents to submit their op… Continue

Added by John Occhi on May 31, 2008 at 7:17pm — 12 Comments

How do I get my foot in the door w/ REO's??

I get asked this question daily. 8 years ago I asked the same question to a well known agent in my office who did high volume and was the father of a girl I played soccer in High school with. He knew who I was but I think he looked at me as an inferior and blew me off. His answer was " It's really hard unless you have a contact person already so don't spin your wheels cause you don't have enough experience." I walked away from him with my tail between my legs and I went to the internet. NADA!!!… Continue

Added by Stacie Cunningham on May 27, 2008 at 1:28pm — 11 Comments

Asset Manager for B of A looking for agents

First Preston has immediate needs for listing services in Florida, Georgia, Illinois, Kentucky, Michigan, Missouri and Pennsylvania as well as Jasper County, TX. Licensed brokers interested in being considered by First Preston to provide listing services should click here for registration information. So if you are an REO agent in these cities then why are you still reading this blog?? Get going and sign up. I… Continue

Added by Stacie Cunningham on May 27, 2008 at 1:02pm — 1 Comment

Let's trade.......

I have a long list of REO AM's I am signed up with and I want to trade my info for your REO AM's. If you have 1 or 100 so do I and am willing to share. Let's trade!!~Stac Continue

Added by Stacie Cunningham on May 24, 2008 at 10:29pm — 10 Comments

All Blog Posts Tagged 'asset' (19)