You don’t deserve a listing!

Ok, this blog is going to touch on a lot of nerves but, I need to write it because, I just need to. You don’t “deserve” a listing, that’s right, you don’t “deserve” anything to be completely upfront and honest with you. I grew up dirt poor, ugly as home made sin around a drug addicted, in and out or prison single mother who was more abusive to her children that she was ever loving. We lived on government assistance through out the majority of my young life and we even managed to come and go from shelters 2 years. I was oppressed, depressed and un-impressed with life. Now, I look back at my life and its hard for me to even imagine that lifestyle because I am so far removed from it however, I don’t deserve what I have now! I have EARNED, what I have now! I was part of a recent blog where someone wrote in and said they were glad to hear that the California Legislature was working to break up the monopoly some Realtors have on REO Listings. She went on to say, she “deserved” a REO listing for surviving through this economic downturn. THIS MADE MY BLOOD BOIL! I responded to her blog, ever so polite and, my point was, her “deserving” mentality seemed more like a socialist agenda straight from Karl Marx than it did anything else. Well, that launched a firestorm of comments, from people with all different aspects and opinions, which I knew it would. (insert evil capitalist laugh here) My point is, it took me three years to break into this business and even now, I am by no means a REO power listing agent, truth is, I can handle much more business than I have but, I don’t go around with a defeatist socialist mentality that says, “I deserve the right to be a REO agent”. I help those that come behind me by offering as much a resource as I can, not because the government say I have to……BECAUSE I AM THAT NICE OF A GUY! Those of you looking to get into this business, I really wish you the best of luck and, help yourselves by blogging, responding to forums, going to conferences, getting a formal education, partnering with a local REO agent and, overall contributing to this industry, it pays off, trust me! Those of you in this business, make as much money as you can and be prepared to fight for what you have because, the tsunami of agents is at the door and they are prepared, willing and in many cases able to take you down and take your business. I think it was Aristotle who once said, “Necessity is the mother of innovation” so, if it is necessary for you to become a REO Agent, then innovate. If it is necessary for you to remain a REO Agent, then innovate. Above all else, you don’t deserve anything you have, get out there and EARN IT! As the one and only Super Model of the World once said, “….YOU BETTER WORK IT!”

It is refreshing to be in this group due to the high level of HONESTY out there. I started doing BPO's shortly after moving to Florida in January 2003. I was 4 months at a C21 trying to work into commercial real estate. The firm was not set up for it, though they wanted to break into it. I began doing BPO's and to to the point where I had 80-100 a month, working 7 days and late into the night. I finally got a call one day from Land America. Seems that I was the 3rd or 4th agent they called, the others would NOT return their call. Bottom line was 1.5 hours later I had the occupancy task complete and mailed into them. Got the listing and that led me to where I am today. I close now about 2 homes a month on average. Life it good, but you get to where you are by working in the field. There is no 'free lunch' here. I really appreciate 'Jesse's' comments. I see in other groups, agents looking to 'get into REO' with the expectation that if they do a BPO they will get a listing. Does not work like that. These are folks who ran with the boom, and now have not the skills to handle REO. I need to share this, had a chat yesterday with a agent who's REO I needed to get in to price. Seems one of her fellow agents was making all sorts of noise with the broker about 'getting into REO' so the borker assigned that task to my agent friend. She waited until she got one that would fit this young lady. The 'newbie' shows up in heels, nice dress. The house in question that my friend took her to for her 'introduction' to REO had FLEAS, DOG MINES all over the house, mold etc. in addition to that wonderful smell of roaches. Needles to say all the 'newbie's' talk of wanting into the REO world evaporated! She never brought the subject up again. Happy Days.

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Comments

Margaret Loudermilk March 19, 2009 at 11:54am

I have a pretty good REO business going that I have worked hard on for several years building. I have a question. Do agents see other agents traveling as far as 75-100 miles for a listing(s)? I wonder if this would be frowned upon by asset managers/companies. Just curious.
Jan Radosevich March 18, 2009 at 4:46pm

A sense of entitlement, isn't that what it's called? When your expectations exceed your output?
Donna Lavin - CDPE, SFR March 8, 2009 at 7:32am

Jesus,
I totally agree with you. I as well as you always worked for what I have. I do have problems with the agents that get all the REO listings and they do not get back to you if you have questions, you want to verify the offer being received. The banks are their bosses/seller and they are doing them a dis-service if they are not co-operating with a potential buyer. If you cannot handle all of them, then stop taking so many. Agents wait to submit offers. We are all in this together to do a good job and make money. Work together and co-operate with each other and the deal will get done. If the banks knew how some of the agents were handling their properties, they would not be hiring them.
Frank Popeleski March 7, 2009 at 10:10am

It is refreshing to be in this group due to the high level of HONESTY out there. I started doing BPO's shortly after moving to Florida in January 2003. I was 4 months at a C21 trying to work into commercial real estate. The firm was not set up for it, though they wanted to break into it. I began doing BPO's and to to the point where I had 80-100 a month, working 7 days and late into the night. I finally got a call one day from Land America. Seems that I was the 3rd or 4th agent they called, the others would NOT return their call. Bottom line was 1.5 hours later I had the occupancy task complete and mailed into them. Got the listing and that led me to where I am today. I close now about 2 homes a month on average. Life it good, but you get to where you are by working in the field. There is no 'free lunch' here. I really appreciate 'Jesse's' comments. I see in other groups, agents looking to 'get into REO' with the expectation that if they do a BPO they will get a listing. Does not work like that. These are folks who ran with the boom, and now have not the skills to handle REO. I need to share this, had a chat yesterday with a agent who's REO I needed to get in to price. Seems one of her fellow agents was making all sorts of noise with the broker about 'getting into REO' so the borker assigned that task to my agent friend. She waited until she got one that would fit this young lady. The 'newbie' shows up in heels, nice dress. The house in question that my friend took her to for her 'introduction' to REO had FLEAS, DOG MINES all over the house, mold etc. in addition to that wonderful smell of roaches. Needles to say all the 'newbie's' talk of wanting into the REO world evaporated! She never brought the subject up again. Happy Days.
Kim Lineberger March 7, 2009 at 5:59am

Thanks for making such a great point. I have only been doing REO's for 8 months and people ask me "how" did I get my listings. I, of course share with them my experience and pathway, but also make it a point to tell them that I have been working hard to get to where I am today ~ my REO listings did not fall into my lap, but instead, I started on the REO path in October 2007 (not overnight success). Hard work, dedication and commitment is the key. Most all, PERSISTENCE. Once you get that REO, you then must work even harder to impress and build those relationships with the asset managers. Some days, I can put in 12 hours just to make sure that I am on top of all tasks and respond BEFORE bank deadlines. So far it is working. I pray that I will continue to be blessed with REO business. I thank YOU (Jessie) for starting this site and learn from it on a daily basis.
Tim Shrout March 6, 2009 at 1:25pm

I agree wholeheartedly. Where were those agents 14 years ago when I started in REO's? Where were they 2 years ago? I like many others have worked very hard to learn and understand the REO business. It is not your the friends house down the street type of listing. If they want the listings, track down the asset managers, do the endless BPO's, burn the midnight oil. No one handed me anything either. I have sweat for it. I earned it. More importantly--I love this business and could not imagine doing anything else. The problem with this country is that very attitude--everyone thinks they are owed or deserve something. That is why they will never have the things I have including happiness!!
Daniel Norwood March 6, 2009 at 11:55am

I am responding to your email response to mine about res.net.and thank you for taking the time to explain it to me. I think the reason why I got selected is b/c I had 3 true reo referrences and I told them in my application that I get all the PAS listings here in my town. (Our market here, btw, is a sellers market with minimal foreclosures at all.) That is all I can think of as to why they picked me. Thank you again for your response. I hope to continue chatting with you!
Brenda Fernandes March 6, 2009 at 11:02am

I completely agrre! The REO's I have gotten I have worked hard to get and have worked even harder once I ahd them! We all have to udnrestand that hard work, perserverance and quality service will pay off. Sitting and waiting for things to change or to come to us is not going to happen. Those of us that do Earn anything we get in this downturn will be well rewarded when the market does turn and our names and quality service are known to the buyers in the marketplace. Referrals, Referrals, Referrals....
Craig Alexander March 6, 2009 at 10:55am

YOU GO JESSE! It is outraging to me to think that ANY Realtor would make such statements. I DESERVE A LISTING?!?!?!?! Hmmmm...seems like the "I Deserve It" mentality is part of the reason the economy is where it is today.

Hard Work, Determination and Persistance will always pay off -- no matter what the business.

I think the agent who thinks they DESERVE anything is in need of a quick kick in the pants.
Martin R. Tauger March 6, 2009 at 10:46am

Entitlement is a poor business plan! As a Broker, I tell my agents that I will supply them with as many tools necessary for them to be successful...but it is up to them to make THEIR business flourish!

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