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I was talking to several REO agents in my area and everybody is complaining that we are not getting assignments like we used to. I have some houses in pre-listing since Sept of last year, and I haven't receive too many new assignments this year, it started great with a busy first week of January, but then it has slow down.
Also bpos are slowing down, and per my conversations with other agents it is the same with most. I talk to some asset managers from large banks a few weeks ago, and they told me that there is a lot of inventory ready to hit the market and that we will be busy for the rest of the year. I have also notice a lot of REO agents also expanding their teams to do short sales. In a way it is a no brainer, I have been doing that for a while. With a short sale we don't have to share with the outsourcers, we don't have to front utility bills, become project managers, etc. the biggest issue is to convince the bank to accept the offer and to wait patiently until they get to review and if they don't approve the sale price then go back to the drawing board, also if the seller is too late, then the risk that the bank might foreclose before we get a chance to sell it.
Anyway I have always said in past post that it is good to diversify, I personally take 2 first time buyers a year, and show properties, etc. that keeps me in the reality of things, and I also take some investors, but that is a little different. It is good to experience the market from different perspectives.