As soon as the lenders, vendors, and GSE's started releasing REO product again a new crop of money grabbing theives starts soliciting hungry REALTORS. Let's put this to bed once and for all. Keep your credit card in your pocket!
It's good money if you can make it. Think about it this way, there are over 1 Million REALTORS in the US. If only 1000 pay to play $395.00 the company that just solicited you made $395,000 and delivered you a cool listing on their web site to no where or gave you a 1 hour Webinar on how to break into the REO business that is the same old nonsense that usually requires "Platinum Upgrade" for an addtional cost, sold you an exclusive zip code (that they sold to everyone else in the zip code) or worse sold you a list that you have no idea what to do with that is so old that half of the links don't even work any longer.
You DO NOT need to be Certified to sell REO's. There is NO one certification that will gurarantee you listings. Sure you need training and on Certification on your resume does look good but get one that includes some training. You DO NOT need to join anyones web site for $395.00 to get REO listings or exposure. You DON'T even need to attend multiple REO Conferences unless you like the venue for a vacation spot and want to meet and greet with other REO wannabes. My last two in Las Vegas and Fort Worth were a total waste of time and money. Pick the right Conference and attend because you like their programs, need some additonal training, or just need to get away, but do not kid yourself that you will meet Asset Manager that can give you listings. The decision makers do not attend these conferences. The old trainer joke about meeting them at the BAR after hours is total bunk. Not saying don't go - just saying don't go with unrealistic expectations.
There is REO business out there you just need to prospect. Yup no secret crash diet loose 30 lbs a day prospecting short cuts here. Just like dieting this is a long and tedious process and you must do it daily for it to work. Happy Hunting.
Comments
I tend to disagree with you a little bit, I know there are several companies trying to make money from the new or newer REO agents out there. I am sick of so many designations, trainings, private clubs, directories and fake asset companies out there, and we need to be careful and share information about them in forums like this one. Some of those companies are just like the most lead generation companies. However there are some that are real and some investments that are worth doing.
I signed for one of those companies that I have to pay $600 to be prefer agent, I have been contact by several clients so far I have received over 100 listings from that $600 investment.
I have been able to get business from most of the conferences that I have attended, my first conference in 2009 I got 2 new clients, my second in 2010 I got Fannie Mae and another large Asset Company. and I have met several asset managers at the bar, at the restaurants, in the elevator, share a cab with some, etc.
I think the opportunities are there, we just have to look for them "Seek and Ye Shall Find" The problem is that most agents just go and seat in the classroom all day, are not sociable and don't try to meet other agents, they walk busy with their cell phones or seat busy with their laptops. They expect the asset managers to come and hire them because they seem so serious and busy.
And then there are the desperate ones, who only want to met asset managers, and when they have the opportunity they don't let the poor AM bread.
It also helps to help others. I have met several friends in many of the conferences and we share contacts and try to help each other out. So far is has work for many of us. I have been able to increase my business due to that and for agents referring business to me. If I would've stay seating in my office waiting for the business to get to me, I would've not been able to meet all these wonderful friends.
Amen!