Of late, I find that the markets I work in, (Phoenix, AZ and Sacramento, CA), have slowed to all but a screeching halt as far as receiving REO assignments go.
As everyone knows in the business right now, if your selling for Fannie or Freddie, you're a lot busier than the rest of us...I could bemoan the unfairness of the favor Fannie & Freddie REO agents in my office of 300+ enjoy, but what's the point, they got in and I did not.
Despite having the trust and regard of my asset managers, their pipelines have also slowed to the point where assignments have all but ceased. They insist that I am rated highly and considered an agent who is one of their preferred choices for assignments.
YET none are forthcoming!
So now I'm told to hang on because the business is going to pick up after the holidays.
In the meantime, this begs the question "Now What???"
I am busier than ever doing Titanium assignments, BPO's, and working with buyers to keep afloat.
What are you, the other reo agents, doing to survive these lean times?
Working at WalMart? Taco Bell? Or worse yet; a CAR LOT!
One thing is very apparent, I work harder than ever, earn less than ever and are happy to do so.
I will also add this, I know more about what a property is really worth in any given market and have a better idea about what it takes to get an offer accepted than 98% of the agents working today because of all of the extra work I do to survive. To me, that's a good thing. What are the rest of you doing to survive and hopefully grow?
My teams are transitioning over to shortsales.
Any ideas out there on best practices for finding the not-so-elusive shortsale clients?
Times may be tough but Distressed Property Specialists are tougher!