So these mystical words have been whispered and rumored about for more than a year now, yet very few seem to understand their true meaning. Is “Shadow Inventory” some sort of hidden surplus of unwanted homes lurking in the deepest corners of the REO world ready to swoop in and cast a heavy dark cloud over the real estate market? Will it instantly suck home prices across the nation into the bowels of no-equity hell? Much like the “Double Rainbow” guy, agents everywhere are asking “What does it mean”?
In a nutshell, it’s quite simple. And frankly, very good news for those of us in the REO business, selling foreclosures for banks. Watch this video and you’ll see that we are merely in the eye of the REO storm, as it appears that the Shadow Inventory bubble is preparing to burst and provide us with opportunities to sell REO homes like never before. So, if you are a new REO agent, NOW is the time to get started with building your REO client relationships. If you’re an established REO broker, Now is an even BETTER time to start strengthening your relationships with your REO asset managers.
When you go to REO conferences, do you “work” them strategically and make real REO client connections, or do you wind up feeling like a tiny fish in the feeding frenzy of REO agents harassing Asset Managers?
Most agents go about REO conference networking totally WRONG. Worse yet, they waste money on plane tickets and hotel rooms, hoping to get REO listings from Asset Managers, who ultimately end up seeing them as annoying pests, instead of competent REO agents and that they would like to work with. If you learn to approach tactically and you use this “REO connections multiplier”, you’ll wind up getting more bank foreclosure listings to sell every time. It works like a charm without fail. Learn it an CRUSH IT at conferences!
Watch this video and see EXACTLY how you can get more REO listings from banks, by using this simple but masterful strategy over and over again.
P.S. If you have never been to an REO conference, get your butt to REO Expo, The Five Star Default Conference, or REOMAC . There are several of these each year and they are great places to get REO training, foreclosure training, make some great new REO contacts and get REO assignments!
