For those of you who have been following my blog, you will recall that I am of the opinion that the Investor Market has significantly increased. We have been in multiple offers countless times, we have lost contracts despite bidding over list price and we quite frankly have lost contracts by being untimely. (i.e. not fast enough).
We have recently evaluated our systems and made an important discovery, we didn’t really know the REO agents and they really didn’t know who we were. As a result we made a concerted effort to make contact with a few of the bigger REO agents in our area and asked them 1 simple question; “how can we structure our offers to make your job easier?” This simple question opened up a huge door into the world of REO deal structuring and more importantly “good will” to the REO agent. We even had 1 agent stop by our office and discuss REOs, his clients, his properties for over 45 minutes. That discussion alone led us to an unnoticed gem of an REO in Brevard County, Florida.
Since that time, we have seen a significant increase in the submission of our offers, the taking of our phone calls by the REO agents and yes the acceptance of a few more contracts. That’s not to say all of our contracts are accepted, but when the REO agent has to choose which offer to recommend, you can bet he/she is going to choose the company/person he knows can get the deal done.
Bottom line, get to know the REO agents, let them get to know you and prove you can get deals done.
Chris McClatchey
Housing Market Realty
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