Ed Laine, Miller Laine Properties
“We actually diversified four years ago in anticipation of the REO decline. Over those four years, our volume has grown despite the decline of REO as a percentage of our business. We did this by generating a different type of customer opportunity. By doing it that way, we are dynamic enough to succeed in any market. Time is our biggest obstacle for success. My advice is to diversify so that you can take advantage of the hot markets that exist, and use as many software tools to help yourself out. Never stop growing.”
Tina Adamson, Real Living Mutter Real Estate
“I am making plans to attend every conference and every online webinar that I think will help me, as I’m learning and growing in the business. I’ve only been doing this for a little over two years so I want to be in the learning stage. I think one of the difficulties I find is the asset management and response time from the banks is longer, and not as accepting. Agents like myself have to realize there’s nothing we can do but communicate and be kind. It’s a waiting game. Some other advice I would give as we have more challenges in the REO business is to help ourselves by working with the right people. It’s about teamwork and communication.”
Aaron Mighty, Mighty Realty
“Honestly, I’ve learned that going back to the basics is a vital part of our business. We have gone back to some old school techniques like open houses and bus tours, and found them to be very beneficial. Some of the biggest challengers are buyers and lenders who do not qualify buyers well. We like lenders who run credit and get to the underwriting stage. I suggest my fellow members get back to some traditional business practices and try not to get so caught up in the REO business. It’s about expanding your business beyond REO.”
Mike Mondy, Fairfax Realty
“I always make sure my profiles are up-to-date on numerous sites, and that I’m signed up with different vendor companies. I focus on not being late on tasks and always being proactive. Getting asset managers all they need before they even ask for it has also been crucial to my success. Some of the obstacles I face daily are seemingly never ending tasks and dealing with occupied properties. Overcoming obstacles is all about being present in the business and not missing a beat. You have to stay positive and have a daily routine and stick to it; eat well and stay in shape.”
Rebecca Casey, Rebecca Casey Realm Properties
“It’s an ever-changing market. You have to adjust your business plan and always do more. You have to expand and have more legs of income than just one. You can’t put everything you have into the REO side. I would really like to let FORCE members know that there are a lot of people out there trying to take advantage of realtors. Stay away from people asking for money up front in exchange for listings they offer you. We fell for it once, and we never saw one listing. Be very careful with whom you do business with. You have to know when someone is trying to take advantage of you.”