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B PASHN8! 

This license plate has been on my Volvo for the past 8 years.  I recently gave my car to my church, and the DMV wouldn't let them keep the tags.  So, I received them back as a souvenir.  Actually, I was thrilled that I got to keep them. 

I put these tags on my car because I wanted to plant an idea in the heads of everyone who looked at them.  Be Passionate!  If there is one word that best describes my life, it would be passion.  I have a lot of things I'm passionate about, and I love to share my passion with anyone and everyone who will come along with me. 

When I first put the tags on the car I found that a lot of people would sit in traffic and try to sound it out.  What fascinated me most was that women almost always got it right away.  Men?  Well, the guys weren't quite quick and they tended to get distracted by the whole spectrum of what passion could mean.  Guys tended to be a little more animal and primal in their interpretation, and the ladies tended to be a little more cerebral and task oriented.  

For me, passion is the driving force that won't let me stop thinking about a plan, a new vision, a method of creating something that I've only dreamed about, a challenge that is waiting to be overcome, a goal that I am determined to accomplish, a deal that is being negotiated, an idea that is looking for wings, a hurdle that needs to be cleared.  It's my fuel for success.  Most of the things I do in life are a direct result of my own personal passion. 

I've never had a guaranteed income as an adult.  I've almost always worked for myself, and I love it that way.  Why?  Because my passion will not allow me to sit on the sidelines.  I have never been a clock puncher.  There is nothing wrong with that, but it's not for me.  I once had a friend ask, "What will you do if this venture doesn't produce enough money?"  I said, "I'll create a second source of income."  That's what passion says.   It's a power that is hard stop.

My favorite bumper sticker says, "If you ain't the head dog the scenery never changes."  I know that gnawing feeling of needing to break out of the pack and do something bold.  I think a lot of Realtors enter the profession because they are just like that.  They love their freedom, and they love to have the ability to have unlimited income based upon their own efforts.  

Passion empowers you to do amazing things.  It gives you the courage to exceed your own expectations.  It pushes you to take on projects that over your head because you know that some how you will not only succeed, but you will succeed beyond your own imagination.  I am confident that those who are passionate can do anything. 

There are plenty of naysayers in the world.  But, people who swear something can't be done are nearly always run over by someone doing it.  So, my friends, be passionate.  Have a great weekend while your doing it.

Teach Your Kids to be Financially Independent. Here's a Simple Way. 

One of the best things my wife and I ever did was put our kids on salary.  When our sons were 8 and 10 we put them on a monthly salary.  I had taught finance and investment seminars for a long time when I realized that there didn't seem to be anything out there for kids.  Then I found an amazing book.  The book was called "Debt Proof Your Kids," by Mary Hunt, and it spurred a lot of great ideas.  What if kids grew up understanding the value and use of money?  Go figure.  What a concept.

We modified Mary's ideas for our family, and it worked wonderfully.  I highly recommend the book.  Here's what we did.  From January 1 - June 30 we recorded every penny spent on the boys.  That included boy scout dues, clothes, shoes, stops by McDonalds, books, haircuts, theme parks, everything.  We averaged each boy's expenses, and on July 1st they went on salary.  Salaries ranged from $55-$70 a month at that time.  The mom and dad spigot was off. 

The deal was that we wouldn't buy them any clothes, shoes, books, pay dues, no sodas at the convenience store, no haircut money, no cash for theme parks, etc.  They would be responsible for every life expense.  If I chose to take the family out to dinner, I paid.  If they wanted to stop for a meal or soda, they paid.  If they needed a haircut, they paid.  If they wanted the new cool sneakers, they paid.  New video games, skate boards, trips to the movies or anything not initiated by me or my wife was at their expense.   We only paid for things my wife and I chose to do, and they paid for everything else. 

They were also required to save 10% and give 10% away.  So, they had to learn to live on 80% of their total salary.  In the first month, the youngest son was broke in about 2 days.  The first test of our plan came when my oldest son wanted to stop by a convenience store for a soda.  We did.  I bought one for my wife and one for myself.  My oldest son bought one, but the youngest son was busted.  No one offered the younger son a soda, and no one offered to share.  It was part of the deal.  That was probably one of the hardest things I've ever done. 

The second month, the youngest son made it to about week 2.  He did better, but he was still busted within 14 days.  Month three was much better.  He made it to the end of the month with  cash to spare.  Today, at 19 and 21, the boys are the bank.  Both boys are well on their way to financial independence.  The recession has had an unintended consequence for them. They've watched a lot of people lose everything they worked for because  they carried  excessive debt.  The boy's system has been to avoid unnecessary debt and save, and they're great at both.

Both boys have their own jobs now.  Mom and dad aren't supplying their salaries anymore, and they still save 10% and they still give 10% of their income away. The oldest son has developed into quite an entrepreneur and currently has his own business.  He's  also in college and the younger son is heading that way. 

We home-schooled the boys so scholarships are nearly non-existent.  This presents a new chapter in their financial lives.  Knowing that they will have some of their own money involved in schooling makes them a little more focused on what they will study.  Ironically, when their money is on the table they look at college with a whole different attitude.  They look at the value of what they receive in the classroom and not on college as one big party. 

Yes, we did get back involved in their financial lives once they were well established teens.  By then they were well on their way to a heathly financial life. 

If you have young children I would recommend that you pick up Mary's book and find out how to use it in your own life.  It has set my sons on the path to debt free living, and I love watching them use their minds to make things work rather than using Visa and MasterCard.  It's very exciting!  It's the one gift we gave to our kids that will last their entire lives.

Close Your Eyes So You Can See 

I've always heard that when you lose one of your five senses that the other ones become more intense.  Recently I was resting my eyes (taking a nap), and I heard a commercial on the radio that has a TV counterpart.  When I heard it on the radio I recognized it right away.  Only this time, it was different.

This time, the sound was amplified, and I heard the emotion in the voice of the speaker.  Her voice was silky smooth on the radio.  It didn't seem that smooth on TV, but there were distractions on the TV ad that I couldn't see with the radio ad.  It was the same ad.  What was the difference?  Since I couldn't see her this time my hearing was making up for my lack of sight, and it was an amazing difference.  Wow!  I was so surprised.

What does that have to do with real estate?  A lot!  When you list a house you need to list it with a buyer's senses in mind.  I recently did a walk through of one of my own listings.  I made up my mind that I was going to walk into this house as if I had never seen it, and I was going to determine why it hadn't sold yet.  I exhanged my Realtor senses for a buyer's senses, and I found a lot of things that would keep me "the buyer" from buying the house. 

So, close your eyes and listen.  Listen to something that you're already familiar with.  What did you hear that you haven't noticed before?  Now carry that into one of your listings that is moving slowly.  What do you see that you didn't see at the initial listing?  Close your Realtor senses, and open your buyer senses.  You might be surprised.

Sellers want to sell, and Realtors want to sell. So, what's the problem? 

Sellers want to sell, and Realtors want to sell. So, what's the problem? The problem is some sellers lie, and some Realtors lie (no offense to my colleagues ), and it slows down the process. Yahoo Finance posted an article today called "The 5 Lies All Home Sellers Tell." Drop by and check out the article. We've all heard it before.

But what about Realtors? Most of my friends who are in this business are awesome. I am proud to call them friends, and we do business together constantly, but there is another group. Let me tell you about my day.

I just left a client's home. She has her property listed with another company. Actually, it has been listed for over a year. In that year's time, her Realtor has never been by except to have her sign documents. There isn't even a sign on the property. There have been three showings and zero offers. The sad part about this house is that it's a great house on 82 acres of beautiful rolling hills, but it's being handled by a Realtor who would say anything to get the listing.

Here's the irony. I did all of the CMA work, research on conservation easements and laid the ground work for her to sell two years ago. I never heard from her again, a la "Dear Customer - I have a favor to ask" by Karen Crowson. A local attorney in her area recommended a different Realtor, and here she is a year plus later with nothing. That Realtor promised the moon. He would market vigorously, he would send out fliers, he swore he had five clients right then who had cash and one of them would scoop the property up right away. Baloney!

Some Realtors will say anything to get a listing, and then what? If it turns out to be hollow promises, like this Realtor's promises, the client, who is in desperate need, is left hanging and confused because she is holding on to the promises that had no substance. She believed in the recommended Realtor. She trusted his listing presentation, and he had a slick one. She was excited to get the property listed. Now, she is in financial trouble because she chose a Realtor who was only gathering listings to fluff his portfolio, and he didn't have a genuine plan for selling.

I once had a college professor who often said, "If you make a promise that something will happen you had better be prepared to make it happen." That's good advice for all of us. We should only promise what we know we can make happen because people trust us, and they need to know that we can do what we say we can do.

Time Really Is Money

Internet savvy real estate buyers are skipping the old "find a Realtor, and then find a home" process of the past. Instead, 89% start their search online and then through their individual research they find a realtor. That brings up a great question. How soon do you respond to a web based request for information?

Jeanne M. Gavish posted a great blog on this subject entitled, "How Much Time Do We Have to Respond to Online Leads?" I would highly recommend Jeanne's post as a reminder that we live in a new age of tech-first buyers who won't wait for a realtor to get back to them later that day or the next day. Time is lost money if isn't used correctly.

The Metropolitan Regional Information Systems, our MLS, posted their own article on this subject. It's obviously becoming a pet peeve with home buyers. Agents who don't return calls quickly, respond to emails immediately or answer text messages are hurting their own success in this age of smartphones, computers and wirelsss everything. The MRIS article, "Tips for shortening response time and converting more leads" offers techiques you can use to capture those priceless leads. Today, time really is money.

Is That Coffee Coming Out of Your Nose?

Alright, it's Sunday morning and I'm supposed to be in Reston, VA, riding my bicycle at the annual Tour de Cure American Diabetes Association event. But, it's raining, and it's calling for rain on and off for the rest of the morning. The TDC is an annual event that I love to support with my funds and my time, but this year is going to be a bust.

I made a commitment a few years ago to stop riding in the rain. Besides that nasty skunk stripe you get up the back of your jersey when the rear wheel kicks up road water, it can be very dangerous. It's even more so if you're going to be in an area where automobile traffic is sharing the road. One good slip and you're down. Not pretty.

So, I'm using my time to catch up on my reading. Well, I stumbled upon Gwen Banta's blog, "Homicide and the MLS (Are you killing your listings?)" post, and I found myself blowing coffee out of my nose. I'm not sure which is more enjoyable, blowing hot coffee out of my nose from laughing so hard or sliding down the asphalt on my back. Hmmmm? It's a tough call, but I think I'll go with the coffee. At least as long as it has vanilla creamer. Take a minute and read Gwen's blog, but do not, and I repeat, do not try to drink or eat anything in the process.

Hi there everybody,

As a certified real estate instructor that specializes strictly in broker price opinion education, I try to stay on top of industry trends. As such, I have been following a company for the last few months called, StreetLinks. They are a major AMC provider and soon to be provider of BPO orders nationwide.

I have had the great fortune of connecting with a fantastic representative from their company and have gain a lot of valuable information to help you guys save time and to assist you in being able to make an informed about if you should sign up with this company.

I would HIGHLY recommend taking the 15-20 minutes it takes to register to be a BPO agent or broker for them right away! And no I am not affiliated with them or getting paid by them to endorse their organization! It isn't every day that a new company pops up that is not only credible, but I think will quickly be a force to be reckoned with when compared to the top major BPO mills. From my research, Streetlinks should be able to offer decent volume across the U.S. right out of the gate, and if everything goes well I foresee that they will see huge growth in order volume because of having an already solid client base.

So, as BPO order volume is down across the nation, smart BPO agents and brokers branch out and sign up with more quality companies to increase their likelihood of receiving more work. Do yourself a favor and click on the link below to sign up with them, I strongly believe that you will thank me in a few months!

Today I spent about 15 minutes signing myself up at their website, here's a link for you to do the same: https://www.streetlinks.com/solutions/agents_brokers

Also, feel free to pass along this info to others in the business that you think will benefit from it!

Lastly, to wrap up this blog post I want to point out some important points of how this company operates, what you can expect from them and what requirements they have of their new BPO agents and brokers. Please take a few minutes to read through the short list below:

StreetLinks Price Opinion Panel members benefit from:

• Rapid Payment - Payment direct deposited to your account with 72 hours of report completion
• No Cost to You- No fees for signup, membership or marketing!
• Fast Order Submission - Get a free and easy to use online account to complete and submit orders
• Fair Order Assignment - Assignment based on proximity and your historical performance
• Exemplary Support- Full support services and training from our BPO support team
• NABPOP Membership Discount- Join NABPOP at a special discounted rate! StreetLinks offers preferred assignment status to NABPOP certified members.

(The above paragraph was taken from StreetLinks website. All Rights Reserved © 2011 StreetLinks LLC.)

Let me know if you have any questions too! Email me at: nicole@bpo-university.com

Warmly,

Nicole Ocean

Certified R.E. Instructor (WA State)

www.bpo-university.com

360-224-6988

Peanut Butter and Technology 

Late one night this week I was getting ready for bed, but my stomach was growling.  What could I eat that wasn't too heavy and was quick and easy?  Peanut butter.  I know, anything right before bed could lead to dragons and one-eyed sloths dragging me off for a midnight snack in my dreams, but the growling stomach was going to keep me awake anyway so it was worth the risk.  A quick sandwich and I was off to bed.  No dragons or one-eyed sloths, but a thought did come to mind.  Do you ever outgrow peanut butter?  I know, what does this have to do with real estate, right? 

I posted the question, "Do you ever outgrow peanut butter?" on my Facebook page.  I was surprised at the large response I received from my FB friends.  It's unanimous.  Peanut butter is a staple, and it's here to stay.  Now, what does this have to do with real estate?  It made me think of how we do business today.  I'm a techno-geek so I love all the electronic ways we conduct business today.  I love all of the smartphones, ipads, zooms, electronic lockboxes, drip campaigns, auto-responders, electronic signatures, etc., etc., etc.  But, the reality is that real estate still needs a good dose of peanut butter. 

The peanut butter of real estate is getting to know your client.  It's putting their needs first and making sure they find the best house at the best price.  It's protecting their interest and seeing that they are not taken advantage of by a buyer or seller.  In our electronic environment, the personal touch is still the glue that creates the deal.  No matter how tech-savvy we become, clients need contact, understanding and an advocate.  That's the peanut butter of real estate, and it's here to stay.  Now, if I can just figure out what the jelly is I'll be set.

I have found that being in the BPO and REO business is much like playing a competitive sport when you were a youngster. Whether your favorite sport is football, basketball, baseball, soccer or any other sport, one of the first things you were taught was offensive skills, which of course was soon followed by defensive skills. The better you were at both, the more likely that you would be successful at beating your opponent, right?

The same scenario and expectations applies within anyone's BPO and REO business, the only difference is that we are now all grown up and more is on the line and at stake.

When I got started in the BPO business in Sept. of 2006 the phrase, 'Broker Price Opinions' was something that a very select group of people in the real estate business knew about. I'm guessing that the percentage was very low at the time.

I was able to put together a BPO Manual for others (in Jan 2008) who wondered what a BPO was, what it involved and every possible question under the sun as it applied to broker price opinions. Sales of my BPO Manual really took off in early to mid 2007. I had to presume that at this point the 'secret' was out of the bag. So, it had to be a matter of time before everyone jumped on the bandwagon. I was right!

For those that heard about and saw the tremendous opportunity they benefited greatly if they dove into doing BPO's. For many REO listing became the next logical product of the vast amount of BPO work they did. For the next two years, I saw more and more people jumping into the BPO and REO business.

During this time I also talked to lots and lots of people in the business. They came from all walks of life, backgrounds, time in the real estate business and everyone had own their opinions about the BPO business. I appreciated each and every phone call, email and letter that I shared with my fellow peers. They helped me understand so much about the business that I would never have been able to figure out on my own. I owe a lot to these countless number of fine folks. If you are one of them, thank you very much for everything! :-)

I guess a good secret can't stay hidden for long though, huh! Thank goodness. This business is filled to the brim with open-ended possibilities.

And in the end, if you have found or are finding that many in this business stay very guarded and extremely secretive about their own BPO and REO business (I can respect and understand the need behind this) there are a few others that will share their knowledge and expertise with you. Me being one!

Feel free to drop me a line sometime, I'd be more than happy to help in anyway I can!

Keep your chin up and keep shooting for the stars!

Warmly,

Nicole Ocean

As you can imagine the answer to this question depends on who you talk to. For me, I have personally experienced doing BPO's in a rural setting and talked with numerous agents all over the U.S. who work in very urban settings.

My experience leads me to believe that doing BPO work in a rural setting is much more limiting. It is difficult to find comps that just aren't there, even after going out up to 10 miles from the subject property. If you go further than this than it is likely that your vendor rating goes down and your QC issues go up.

One thing that has really helped me was to not guess at what I was supposed to do or assume what I was expected to do when given a challenging rural BPO. Instead, I had absolutely no hesitation in calling up the company that gave me the BPO order. I'd ask for their advise and guidance on what to do in the situation that I was up against. Someone in their QC (Quality Control/Quality Review) department would likely get on the phone and walk me through which parameters I should use as to avoid getting my order kicked back because of inappropriate comps.

Another thing that was extremely beneficial to me was to seek out each companies 'Guidelines' or their set of 'rules' that they wanted for me to adhere to when doing BPO work for them. Most times I found this information was listed somewhere on their website. If for some reason I couldn't find it easily then I would give them a call and ask where I could find it. By doing this, it makes you look good and helps build a rapport with the rep that you talked to.

Who doesn't want to do their job to the best of their ability? Sometimes we just need a small compass to help guide us safely and confidently to our destination.

Please feel free to share your thoughts on this too. What are your experiences with this?

Warmly,

Nicole Ocean

Certified Real Estate Instructor/Founder of BPO University

Hot off the presses! Huge News for ANY REO Listing Agent....

Freddie Mac/Homesteps just announced that they will be doing live on-site interviews at the upcoming REO Expo Event for open positions they have for listing brokers around the nation. Don't miss out or waste any time because this opportunity will pass by quickly!

To learn more check out this link for all of the details: http://www.reoexpo2010.com/freddie-mac

Plus, if you looked at the above page and want to get a head start, download their questionnaire/application to hand to them live and in-person at the REO Expo do so by clicking here: http://www.reoexpo2010.com/FreddieMac_Pre-Interview_Questionnaire.pdf

Please note: They do not have openings in every state, but don't let that stop you from trying anyway. As you know in this business, there are no guarantees and you never know when doors to opportunity will open up.

Lastly, NFSTI & The BPO Automation Group will host a 10x10 booth to help promote our networks during the REO Expo convention. During the negotiations with the guys of REO Expo we were able to heat up the offer for attendees who use our discount code (REOXNFSTI).

All members utilizing this code will receive a $100 discount off the registration price.

Here are the details of the REO Expo:

• What: The REO Expo
• Who: Hosted by Housing Wire and REO Insider Magazines, MC'd by Pro Football Hall of Fame Inductee Emmitt Smith!
• When: June 6-9
• Where: Dallas, TX (Hyatt Regency Reunion Tower)
• Why: To share the latest in Default Servicing, Display new technology, learn new aspects of the REO trade, and for the Pinnacle Award Ceremony.
• How: Registration is online at www.REOExpo2010.com. Be sure to sign up sooner than later because attendance is capped and the free classes that we're being offered through the Open Door Institute and Default School are closing up fast.

Don't Miss Out....Sign up Today!

Nicole Ocean

As amazing as the headline sounds, as crazy as it would seem, it has happened. Let me explain…..

Affiliate Broker Jane Doe has been a REO agent in her local market for 17 years. She is an extraordinary REO agent and her longevity is a testament to that fact. She trusted her broker, she believed in their partnership and knew that their commitment to each other was steadfast…………..until, the economy took a nose dive and, the broker’s business dried up!

You see, Jane Doe had always worked under her broker as the REO Team Leader for her broker’s firm, managing a small team of 5 people. She was completely and utterly responsible for all the REO business that ever came in to this firm. She traveled to all the conferences, went to all the parties, wrote some amazing blogs and even was on television a couple times being interviewed by Fox News, CNN Money and Fox Business. She was and is the face of REO for this brokerage. In fact, her broker often jokes that without her, his business would have failed because all they do now is REO.

Jane Doe called me today in horror. Her Broker took over her role as Team Lead, confiscated all her files and called all her Asset Management companies and told them she had been fired due to unlawful business practices while convincing these Asset Management companies that they had nothing to worry about with their listings because he was in charge and working the files.

Yes, you heard me correctly. This Broker, destroyed Jane’s career, took over her listings and thwarted her ability to start over from crash in less than 4 hours.

Her attorney is telling her, she has no real recourse because she is an “Affiliate Broker” and these listings, contacts, relationship don’t belong to her, they belong to her Broker.

So, why would a Broker do this, why would a Broker turn on their money maker?

Well, they are in a highly competitive market and just this last year, sales are down 72%. The Broker was going to have to close his doors and shut up shop so, he got rid of her and took it over himself to reduce cost.

Make no mistake my friends, you best make sure you got your relationships squared away in writing and you better make sure you now that as an Affiliate Broker, your business isn’t your own.

Just to add insult to injury. This Broker contacted Equator and RES.NET and was able to reset her passwords and accounts and locked her out.

BPO MILLS, ARE VALUABLE TO THE REO AGENT/BOKER?

More often then not, I hear agents and brokers say that BPO mills are a waste of time because they don’t lead to listings. I, at one time felt the very same way. However as my business has flourished and Reo Listings are more abundant for me than they were a few years ago when I was breaking into this business, my views have changed.

BPO mills are extremely valuable to my operation and will continue to be a intricate part of the success of my business. They are valuable because they provide a training ground for agents within in my team, and those looking to be added to my team. The agents also get paid for the training.(For Example 50 drive by, my agents get 40 if the bpo is turned in on time and not rejected, for each rejection 5 bucks is taken off.) As the experienced REO Broker will tell you, as well as any Asset manager, REO begins and ends with a Good BPO. As REO agents, and Brokers, we are as strong as our weakest link. Your link starts with the BPO, therefore the more agents on your team that can do quality BPO’s, the better off you are for taking your business to the next level.

BPO mills are great because the have their own built in quality control and QA. What better training could one provide for agents looking to join their REO team? Further more this also allows you to determine when your team member or agent is ready to complete BPO’s related to listings.

My concept is simple, get your BPO’s done ahead of time, and on time at the very least, without rejections and your on your way to being added to my team of REO agents. Well, it not as easy as that. I require my agents to complete a min number of BPO’s per month from BPO mills. This allows me to continuously monitor and evaluate agents on my team. It also gives the ability to assign co-listing agents to those that have proven themselves worthy, just as all of us have as REO agents.

The more agents on your team you have trained, the better off you will be to effectively handle the massive volume that many of us will see. So, the next time you get that email from a bpo mill, consider accepting it to train another. After all, like I said earlier, your as strong as your weakest link. How many REO’s can one persons effectively handle, vs. a team of trained agents? I’m ready for the volume and to take on more. Are you ready?

Very Truly Yours

Jonathan Burgess

Code 3 Real Estate CEO