The Wave is Coming.

In the past few years our Real Estate Industry has changed.Many homeowners were foreclosed upon, do to them beingFinanced for a Home Loan they could not afford, and other elements.There are many Asset Management companies taking advantage ofReal Estate Professionals in a similar way. Example: requiringAgents to sign up on their Network, with different levels of membership.Required training, and monthly fees. In return you may receive a BPOto keep the hook in Agents. In reality these companies do nothave any inventory.Now that the Major Banks made a Settlement, and morehomes will become Lender Directed Short Sales, the AssetManagers will be Shifting gears.This will eliminate some Asset Management Companies.In a Short Sale, the homeowner can pick, and chose theirAgent.I say to the Asset Management Companies thatare plaguing the Real Estate Industry, we wave goodbyeBonvoyage, CIAO, Arribedurche, Good Riddence, etc.

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  • I agree with both of you.......and we started to see this shift in 2011 in our local market.  Huge slow-down in completed foreclosures (not defaulted properties, they are stacking up like cord wood) and huge increase in accepted short sales + much shorter time frames for responses.

    Now that the settlement has happened, I think we will continue to see this shift and instead of 80% REOs & 20% short sales in my market, it will probably be 80% short sales/loan mods and 20% REOs. 

    Since Freddie and Fannie are excluded, their direct agents should still be listing.

  • Don, you are right it seems that the trend is for lenders to be more receptive to short sales, I think that will make them faster and smoother in the future, Also they are selling most of their REO inventory in bulks. The best advise that I can give to agents trying to break the REO business is to focus on short sales, Most agents don't like to work them, but that is the real estate business right now and for the near future. The REO craze is fading fast.

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