How To Take REO Listings…and Make Money Now
In 2009, the NAR is predicting that there will be around 5 million home sales.
Its also estimated that nearly half…or 2.5 million will be foreclosures and shortsales.
Across the country there is a growing group of REALTORS who are absolutely cleaning up… listing and selling REOs.
REO Listing Agents currently monopolizes about 1.7 million active REO listings. In 2009, 2 million more properties will foreclose and according to Credit Suisse the US market will be averaging 2 + million foreclosures over each of the next 4 years. Clearly, massive opportunities are ahead for agents who are now taking the steps to become REO listing agents.
Ask yourself this question..
Why are you struggling to compete with all of the best priced…buyer baited REO listings…when its actually very easy to become the agent with those listings? You already know REOs are the listings that are selling….it just makes sense that you learn now how to become a REO listing agent.
Don’t make the mistake in thinking that the best opportunities in the REO business have passed you by. The simple fact is that banks are desperately looking for listing agents. Ask any asset manager and they will tell you that they need educated, motivated REO listing agents now.
The best part is that any agent can become a REO listing agent. There will be more foreclosures this year…more opportunity this year.
Here are some interesting facts for you to consider…
In 2009 there will be 2.5 million distressed sales…foreclosures and short sales.
According to Credit Suisse in 2009 there will be (at least) 2 million foreclosures…that’s NEW foreclosures.
Also, Credit Suisse estimates there will be 2 million NEW foreclosures over each of the next 4 years.
In 2008 roughly 6,000 Realtors sold 1.6 million homes.
That means the average REO Agent closed 22 listings EACH in 2008….PER MONTH.
Its estimated that nearly half of all homeowners in 2009 with mortgages will be upside down…in other words…if they have to sell…they will most likely be considering giving the house back to the bank through a foreclosure
Remember, there is a massive need for agents to list REOs now. Asset managers are flooded with homes that must be sold but, their current listing agents are overwhelmed with their current listings. Here is an interesting secret for you..most asset managers will only allow an agent to list 30 assets (homes).
There are currently millions of homes that are being taken back by the lenders through foreclosure. Its safe to say that the average..
Authors Tim and Julie Harris are Co-Founders of Harris Real Estate Univiversity, HREU is the nations largest on-line real estate university providing real estate education and coaching services to over 20,000 Realtors every day. For a limited time, HREU is offering 2 free books that every agent must have in this market. Go to http://AgentSuccessStories.RealTown.com for more info.
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