Blogs - REOPRO

Small Office or Major Corporate Brand to handle REOs?

Before I opened my own office, I was with a big named real estate company. I felt that being part of that corporate structure was something I wanted to experience. I've always been part of the small business world and truly never thought going corporate. However, two years ago I took my chance at a corporate office and here's my experience: 1. The corporate culture taught me lead generation, contract, escrow classes and such, but when you actually get down to the nitty gritty, contract and deal… Continue

Added by Johnny Huang on September 30, 2009 at 4:00pm — 5 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

Helpful Tools

I would like to share a wonderful tool that I have discovered to you. I know that many of you may already have this tool however, it never hurts to share again and I didn't see it in the archives of this platform. This wonderful tool is called - Google Chrome Wow - that is all I can say. Had I known this tool existed it would have made my life so much easier. It is an additional browser that you can use in addition to Explorer, foxfire, etc. But the capabilities far exceed anything they do.… Continue

Added by Beth Ross on September 27, 2009 at 7:37pm — 2 Comments

NFSTI REO Coach-A-Thon Schedule

•Are you interested in increasing REO? •What about Commercial REO? •Do you know what to say to an Asset Manager? WEEK ONE •Foreclosure Angel Foundation Introduction (Today - Friday) WEEK TWO •8/31/09 - State of the Market •9/01/09 - Explosive Commercial REO Oportunities •9/02/09 - BPO Automation Made Simple and Profitable •9/03/09 - Loan Modification as a Secondary Revenue Stream •9/04/09 - Social Media - The Blogging Effec… Continue

Added by Marcelo Da Silva on August 28, 2009 at 12:30pm — 4 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

REO Properties are not Burdens so Don't Skimp on the Marketing!

Are you a REO agent providing minimal information about each bank owned listing? The bank expects you to market each listing as much as possible so the best possible offer is received. You should never look at an REO property as a burden and/or think little effort is required. Remember, each successful sale contributes to the next listing you receive from the REO Company/Bank. Here are a few tips when listing the REO: • Take the time to take incredible picture of the property. If the property… Continue

Added by Carolyn Dobbs on June 12, 2009 at 2:30am — 5 Comments

Creating a simple process to manage your REO properties and your process

Do you have a plan that will help you manage your properties? How organized are your files and if the bank calls you regarding an invoice submitted three months ago or inquires about the details of a property, are you prepared? I help several agents remotely organize their files and provide different resolution based on their setup. Here are a few tips that will help keep you organized. It may not pertain to everyone and depends on the current process being used. • Get rid of the post-it notes… Continue

Added by Carolyn Dobbs on June 11, 2009 at 3:03am — 7 Comments

Before you Sign-up for BPOs and REOs

Deciding to work with a BPO and/or REO company should be a two-way interviewing process. Brokers and agents eagerly try to get into the business by randomly completing the online or hard copy application process then several weeks or months after completing a BPO, act like a disgruntle employee by complaining to others because he/she/they did not get paid. Well, how much research did you do? You should never leave your business and services to chance and hope. Neither will pay your expenses nor… Continue

Added by Carolyn Dobbs on June 10, 2009 at 3:00pm — 7 Comments

Homeowners do NOT Buy HOUSES; They Buy Neighborhoods!

That is the basic premise we discussed on David Patterson's, radio show last weekend. His summary says, "This week's Expert Guest on The David Patterson Radio Show was ActiveRain Veteran, Author & CA Broker Regina P. Brown. Her passion is helping families create a legacy through financial education. She offers real estate seminars and private buyer consultations. During this podcast, Regina discussed..." How to Evaluate a Good Neighborhood when Buying a House "It's important to choose the… Continue

Added by Regina P. Brown on May 8, 2009 at 7:06pm — No 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

The Blame Game

Reading The Washington Post online I was amazed that this article was posted essentialy blaming real estate agents for the rapid decline in home values since the recent real estate meltdown began. I sell quite a few reo properties and just a year ago there was rampid complaints that agents doing BPO's were valuing properties too high in order to get the listing. Now we are being accused of valuing properties too low to get the listing. Which one is it? I sold 274 reo properties last year and k… Continue

Added by Dan Lesher on April 1, 2009 at 8:14pm — 4 Comments

IAS & Other Expecting Increasing Inventory

BPO Training.docThought the group might find this helpful. Attached is a message I recieved from IAS. The same has been said from a few different suppliers that I'm currently working with. Anyway, more importantly for those doing BPO's you might find the attachment training doc helpful. With that being said I plan on being busy for the rest o… Continue

Added by Jonathan on November 10, 2008 at 12:09am — 2 Comments

Talk about stiff competition

I often wonder, how good am I doing, really? You always hear about how the asset management companies grade and score you. A few of them, you can actually see your score - but the rest? Pfft. Who knows. So long as the listings keep coming, I guess we're doing OK. This morning, I got a broadcast BPO request from a company that also does REOs, but I have never listed an REO with them. The guy who sent the request out mistakenly did not use a "bcc" - blind carbon copy; that is, every recipient got… Continue

Added by Seb Frey on September 10, 2008 at 11:30am — 5 Comments

BPO tells Sad Tales of Woe

Back in November of last year, I did an exterior BPO on a rural property. When I do a BPO, I pretty much always do this: find "neighborhood" actives, "neighborhood" solds, and then comparable actives and solds that are ideally within a mile of the subject, but for these rural properties, the distance is often much greater than a mile. I put the "neighborhood" in quotes because out in the sticks like that, it's kind of hard to say where exactly the neighborhood is. In these cases, I generally us… Continue

Added by Seb Frey on September 7, 2008 at 10:25am — No Comments

Thar she lows!

I did an interior BPO a week or two ago on a rural property out in a kind of exclusive part of Santa Cruz county. None of the homes are alike, the parcel sizes and qualities are all different, the houses range from brand new estate-type properties to...well, older estate-type properties. There are probably a few normal houses thrown in here and there, tucked away behind different hills and knolls. One thing I sure hate to do is tell a client the asset is worth more than it is. Hate it. S… Continue

Added by Seb Frey on August 21, 2008 at 11:22pm — No Comments

High-End Homes going REO

I don't know if you've been hearing the rumors, but there's a gathering consensus that the sub-prime mortgage market was just the beginning of the REO wave, that next up we're going to see more "prime" mortgage defaults and foreclosures. Check out this article from the New York Times, for example. That's my sense of it, surely. Most of the REO listings I've been getting have been in Watsonville, and most o… Continue

Added by Seb Frey on August 15, 2008 at 12:17am — No Comments

Short sale BPO turned into REO Listing

The other day, I got a new property assignment. "Hmm," I thought, "that address looks familiar." Turns out, I had done an interior BPO on the property back in December of 2007, for a short sale. That was kind of a puzzler - I know I turned in a value higher than the contract price (the seller's agent met me out at the property and said, hey, this is our contract price) - but considering the location and lot size, the value I gave it was fair to all concerned. But OK, say that my valuation was h… Continue

Added by Seb Frey on August 7, 2008 at 8:30am — No Comments

REO Agent in Bakersfield, CA

Hello my name is Miguel R Garcia (REO Default Certified Pro, Certified Short Sales Pro, Certified Property Valuator) Member of the Five Star Institute, Default School, Universal REO, NABPOP, NAHREP, GEAR, RES.NET, REO Trans, CAMREO and more. I have experience in CFK's, occupancy checks always done within 12 Hrs,BPO's, Property preservation, marketing, closing the asset. I have perform multiple accurate BPO's for different companies references on request. For all of your BPO's and REO needs con… Continue

Added by Miguel Sepulveda on July 7, 2008 at 11:22am — No Comments

Floggin' them BPOs

Sorry I haven't posted in a little while, I have been busy. I got another REO or two, but I have been consumed with doing BPOs lately. I view BPOs as kind of a loss leader, but I think they are an excellent way to stay on top of the market and to keep your name in front of the eyeballs of some unknown person or persons who may well one day stoke you out by sending you that fattie REO... I've also been busy workin' a few buyers. Oy vey, that's a hard way to make a living. Still, though, I'm exci… Continue

Added by Seb Frey on June 28, 2008 at 10:48am — No Comments

Lazy, good-for-nuthin' REO agents

I got a request to do an interior BPO for a house in my service area. D'oh, another listing that wasn't assigned to me. No worries, I really can't complain, I'm busy enough. So I call up the agent and say hey, I want to get in there, what's the combo box code? He says, "I don't know. You know, I don't really work in that area, it's a bit far for me, so I'm having a local agent I work with there put the lockbox on and he's working on getting it trashed out." Ahem. I know the local agent, I'm in… Continue

Added by Seb Frey on June 19, 2008 at 9:26pm — 4 Comments

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All Blog Posts Tagged 'bpo' (23)