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As an REO broker how can I be more Realtor Friendly?
The REO broker does indeed experience a lot of pressure from the asset managers & companies. It seems that new REO assignments come at times in 'herds' with short-tough deadlines. Yup...been there, done that. So why would I consider taking the time to be 'Realtor Friendly'?
From my self-interest & perspective, being Realtor Friendly saves me time. The most important time I have is the DOM time. My REO listings seem to get shown & promoted first by selling brokers. They have experienced a cooperative list agent, full compensation regardless of list agent referral fees, and most importantly (to me anyway) a 'no war' transaction, which can be exhausting. I believe that being Realtor Friendly negotiates my seller client right-in-to a fast closing! Happy days are here again!
Yes, some selling brokers are hard to work with and need more time than others. Yes, this is a true experience of mine as I'm sure it has been with everyone out there. What I know to be true is that we are dealing with people. Realizing after 10 dedicated years of trying to teach my cat to bark, I no longer argue with the reality that cats don't bark, don't want to bark and cats are happy with a meow. I gave up arguing with the reality that all selling agents (people) should be equally competent, follow directions and have no need of my communication. It is simply NOT the way of it....and never will be.
Being Realtor Friendly is actually quite easy to do. It starts with the understanding that selling agents are a vital part of the transaction equation. They are the finishing 1/2 of the deal. They influence YOUR reputation with your asset manager. If a buyer's agent learns of issues regarding the transaction, they are more likely to keep you informed so you can pass the info on. In my experience, asset managers like and tend to favor a 'no surprise' REO broker. Realtor Friendly means having all of the needed docs and information uploaded on the MLS along with good pictures. Perhaps in the public remarks put "Check this one out with your favorite Realtor!" and in agent remarks might add, " Realtor" friendly listing agent. Questions? Call! Closings are more fun than listings! Do you agree? Let's close this one soon". The open receptiveness coupled with down-home people respect is ultimately your asset managers BEST FRIEND.
Selling agents don't seem to mind or be upset that my genuine motivation is powered by my own self-interest. Short & fast DOMs without struggle seems to earn me more money, which I tend to like.