If you are an experienced agent that has been in the market for 5+ years, you know that it is essential to constantly reinvent yourself and adjust with the changing times. For example, high end, luxury properties are almost non-existent and loan programs are not available to support them. Instead, the luxury home market has been replaced with the Short Sale and REO market. The Short Sale and REO market IS the here and now and its only going to grow. If you don’t have a branch of your business with these types of listings ACT FAST!
For Short Sales, get systems in place. Know your market and treat the transaction with compassion. Remember, there is always a family involved and with a Short Sales and/or REO deal a lot of compassion is needed. To put the right marketing in place and to get started, click here or call your Fidelity National Title Sales Representative and ask them about the tools that will help you with marketing and closing Short Sale properties.
In order to add REO's to your portfolio of properties, reach out to asset managers at large REO companies. Be prepared with a detailed and robust resume that isn’t limited to, but should include a copy of your E&O insurance, dept of RE license and list of your partners. The asset managers want to know that you have a turnkey solution to moving their assets. Also, go in knowing you will need to bankroll about $3K per property for a period of time. You will get all of this reimbursed but you will need to front the money ahead of time for repairs, changed locks, maintenance etc.
All of this may be overwhelming…. Don’t go at it alone. We at Fidelity National Title are experts in the Real Estate Industry and can help you succeed. Please don’t’ hesitate to ask.
Melissa Shapiro
Director of Business Development
Fidelity National Title
60 E. Rio Salado Parkway
11th Floor
Tempe, AZ 85281
melissa.shapiro@fnf.com
480-688-7617
Monday, March 16, 2009
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