I read an old forum thread from a REOPro member from back on 1/8/2012 titled, "What is the best REO Certification to have?" and based on what I know about REO Training, I stopped to read. She goes on to ask more specifically, which "training" actually gets people business or a return on the investment.

As expected, many people stood up, and answered her question and for the most part, the respondents were either looking for an answer themselves or just simply said they got their first REO and didn't have a lick of training to boot.

This plays right in line with everything I have been saying about REO training for years now and that is, REO training doesn't equal ROI (Return on Investment).....at least directly, that is. Well, this maybe a bit confusing since, everyone out there offers training. Conferences have their training, banks have their training, outsourcers have their training and in fact, independent 3rd party real estate trainers have even come up with their own training. Everyone has training so, it has to have some value, right? Maybe not.

First thing to know about REO training is, everyone has a training program and they are a dime a dozen. Or at least $399.00 your first year and $199.00 every year after that....lol. Seriously, it seems like you can go down the street to the local bakery, pick yourself up a dozen donuts, get your taxes done and oh...why not go ahead and pick up that REO designation you always wanted. With the hodgepodge of REO training out there, it seems everyone has one. It's more than an assumption, it's a fact, everyone has one so, how do you choose?

Now choosing a REO training program seems more the appropriate question here and I think, this is really at the heart of what Bonita wanted to know. This can be a bit tricky, so much REO training out there, the general agent who isn't in the know isn't going to know which ones to stay far away from. My point is, the question it's self tells me exactly what I need to know about your REO experience...not much? An experienced agent isn't going to ask about training because he will be so involved in the community, he is going to know which ones to steer clear from. If you have been paying attention to that last sentence, you will have noticed a key word, "involved". Involvement in this community of professionals is more than a couple forum threads and a blog or two. It's about knowing how this community works and who we have black balled. A lack of involvement is going to leave many people without any ROI and that is to be deserved. Trust me, some of us have paved the path before you where we have attended so and so's training just to write about it later to tell the world...DON'T GO! Staying involved in this network, know about how to query a search, becoming a regular reader......all of these things keep you in the know, keep you involved and as such, you can also steer clear from unscrupulous business solicitations.

Ok....so, I guess I will jump off the soap box here and give you a bit more of a technical answer to the question, which certification gets you business.....direct business.

Well, the short of the answer is, none of them do. You see, business in this business is obtained by developing relationships and getting to know people. In my time as a REO agent, I have worked for at least 4 different outsources and not a single time did I get my business by simply putting in an application and waiting to hear back. Yes, I put in an application, yes, I uploaded my E&O and all that stuff but, by doing that I wasn't granted a REO. In fact, I had to work harder and smarter. I got involved. I went to conferences, I shook a lot of hands, I had a few drinks, I told some dirty tasteless jokes (yes...I really did) I bought a few dinners.....I did the "conference" thing, I got involved. From there, people learned my story, the got an idea of who I was, how I worked, what type of dedication I had and that is exactly where education came into play.

Before I got my first REO, I had no REO experience so, the only thing I knew to do was to get an education. Like Bonita, I got on a local network and asked, "What is the best REO certification out there" and someone who would later become a colleague of mine wrote back, something to the effect that no "best" certification exist however, I have these 4 certifications myself. I thought to myself, 4 certifications....DAMN, that's a lot of money, money I didn't have at the time. So, sacrificing I did, coming up with the money, getting the certifications and boom, I had them. Oh, I felt so proud of myself, I was on top of the world, I just knew I was going to get some REO business now. Back at the conference, I was at a bar with some vendor managers for a major outsourcer who was surrounded by desperate agents like myself. The question, what training do we need to have came up and the answer was surprising to me. This gentleman stood up and said, "we don't care, just as long as you either have training or experience."

Training or experience....well, I had 4 certifications while most everyone else I was around had none or one. I pushed myself up to the front, told the man about the INVESTMENT, I had made in my education and impressed he was. I remember him saying to me, "are you sure you haven't worked for Fannie before".  I said no, I really don't have any experience and he said something like, I couldn't tell from talking to you. The point here is, yes....REO training is a dime a dozen and yes, REO isn't going to be booming forever but, it will always be here. No specific training is going to lead directly to a specific asset....well, it's highly unlikely however, it shows people one thing and that is, you are invested.

So, if I had to leave you with one thing to remember about training. It shows you are invested. If you remember nothing else, if you take training that sucks, if you pay too much, if you feel you got nothing in return, just remember, it shows the world, you are invested and that is worth something.....maybe much more than you will ever know.

Putting Aside Your Emotions When Selling a Home

Because of the large investment needed to purchase a home, sellers often find themselves in a difficult situation.  This inanimate object that they have owned for years and used to develop many memories will suddenly belong to someone else.  This can be a difficult time emotionally for many people.  Here are some ways in which the seller can set aside emotions when selling a home.

Values vs. Sentiment

Everyone that tries to sell a home has the same goal in mind; to get the most that the market will bear.  However, this is a difference between asking someone to pay a fair price for a feature of the home as opposed to asking someone to pay a premium for something that is only valuable to you.  The unique door handles, exquisite bathroom fixtures or one-of-a-kind chandelier may hold great meaning for you, but they may simply be accessories to someone else.

Vacate the Home during Showings

When your real estate agent notifies you that they will be showing the home to a proposed buyer, it is best to leave the home for a little while.  Someone that has never seen your home will have a much different opinion on things like the condition of the carpet, placement of furniture and the colors of the home.  Rather than risk hurt feelings or irritation from a buyer nit-picking over small details it is best if you are not there when the buyers arrive.

Give the Real Estate Agent Room and Freedom to Work

The job of your real estate agent can be summed it in one sentence.  They are on a mission to find the one person/family that is serious about purchasing your home.  While your home may be viewed by multiple parties, it only takes one to offer a contract and close the deal.  Give the Realtor® some flexibility in handling offers and let them come to you with news, instead of going to them after every showing and phone call.

Consider the Transaction as Strictly Business

Once a seller has realized that selling their home is merely a financial transaction in the eyes of the buyer the whole process will move along much smoother.  Sellers should not react to comments about the decor or the curb appeal as a personal affront.  The buyer is simply trying to find a way to get the price lower.  This points to a good sign.  If the buyer is trying to negotiate then it means they are interested in buying the home.  The next step is coming to a mutually agreeable price.  Once again, sellers should not take a counter offer as an insult.  Instead, consider the price based on advice from the real estate agent.  Holding out for a higher offer is not always the best tactic.

For many people there is no way to get around the fact that their home has been a cherished possession for a considerable time.  However, detaching one’s self away from the physical building emotionally will help make the transition easier to handle.

Original Post - Ways to Put Aside Your Emotions When Selling a Home

I have not heard this topic brought up much when taking REO courses and online discussions on how to grow your businees. I have read talks of failed banks on post and names of banks along with a direct link to US Treasury in various places but not how it relates to growing your REO business. I have to think there are numerous ways to use this list to help to gain new listings after all these banks have assets they are holding and if the bank is closing this would most likely direct you to think they may be toxic assets.

FDIC: Failed Bank List  here is a link to find the official list.

The FDIC has released the financial statistics on the banking industry for the of 2011 to date 116 .

As of May 20, 2011, the FDIC has participated in the closing of 116 banks this year.

With the first two quarter results now available we can observe the actual shrinkage in the number of banks in the United States.

On March 31, 2011 there were 6,453 banks in the United States, 77 less than existed on December 31, 2010.

There were 6,773 banks in existence a year earlier.

At the start of the recession in December 2009, there were 7,284 banks in the banking system.

The largest drop in banks in the first quarter was in the smallest institutions: there were 51 fewer banks with assets of less than $100 million at the end of the quarter than at the end of 2010.

Banks between $100 million in asset size and $1.0 billion in asset size dropped in number by 34 units.

Can we be thankful in these economic times of inflation, bankruptcy, foreclosures, and unemployment. Some of today's headlines read “Homes in Default Hit Historic Records”, “The Real Estate Dooms Day Scenario”, “Home Value Loss....Greater than The Great Depression”. It's hard to be thankful, when commissions are cut, more Realtors getting into the industry, more guidelines and rules to follow. Can we be thankful in this business? The answer is yes. We in the default industry are a people that are united in helping people. We help the homeowners stay in their homes, or help them sell their property pre-forclosure, we help the banks liquidate their assets. We can be thankful because we are needed. We can be thankful because this economy has made us stronger, surviving in these times has given us the experience, creativity and toughness to know that we can face anything the future holds. We are blessed with supportive family, and friends. We can be thankful because we give and keep on giving, and that brings us more prosperity, if not now, soon. During these times, keep a positive attitude, keep looking up and be thankful.

Most companies are looking for the best, inexpensive ways to advertise because they don't have millions, or even thousands, to spendon advertising. Make the most out of the ad dollars you do have, nomatter how limited you are. These cheap ways to advertise give you avariety of options to choose from when you're on an ad budget diet whilegiving you a good return on your advertising investment:

Create a Flier

Creating your own flyer to advertise your business is simple, inexpensive and it's a great way to generate buzz about your company. Ifyou really want to make your flyer an effective advertising tool, offerincentives or discounts to people who bring in your flyer. This alsogives you an informal way to track how many people are coming in justbecause they saw your flyer.

Advertise on Cable

Wait! Before your eyes skip over this section, thinking it's just for those who can afford a TV commercial, keep reading. You canadvertise on cable through crawls, full screen ads and above programlistings. These alternative advertising methods are very affordable.Crawls can cost under $10 a day.

Use Your Web Site to Advertise Your Business

Many business owners think they only need a Web site if they sell products online. No matter what type of company you have, you need a Website. Potential customers hit the Internet looking for companies intheir local area. If your competitor's online and you're not, guess whohas the advantage. Build a Web site that's beneficial to customers,though. You want to make a positive, lasting impression and having apoorly built Web site is a terrible way to advertise your company.

Post Your Commercial on YouTube

If you do have a TV commercial, get more shelf life out of it without having to pay for more air time. YouTube is an often-overlookedadvertising vehicle. It costs nothing to post your commercial on thesite and you can promote it on your own Web site so customers in yourarea can watch your commercial(s) online.

Cross-Promote Your Business Through Partnering

National companies partner every day because it's an excellent ad tool to reach new customers and cut the advertising costs at the sametime. But partnering isn't just for corporate giants. Going in withother businesses helps you save advertising money while increasing yourexposure to customers.

Produce a Newsletter

A newsletter helps you keep in touch with your current customers and tap into a market of potential customers. Your newsletter shouldn't beused to send ads to your customers, though. Use your newsletter toprovide your customers with valuable information that makes you thecompany they remember when they're ready to buy.

Is it simple, succinct, easy to understand, and memorable? Is it something people will be talking about for years to come? Does itproperly reflect your business, what you sell, and who you are? I could go on. Do you have answers for all of these questions?

A tagline isn’t an easy thing to come up with. The problem is how little time you have to grab a person’s attention. Taglines aren’t longand they aren’t a detailed look at the company. A tagline is often moreabout a feel than anything else. Nike’s tagline of Just Do It emphasizesaction and speed, both of which go along with sneakers.

Before even starting to brainstorm you should look at the audience you’re trying to appeal to. Obviously for Nike they focus on sports, onexercise, and on other action oriented activities. The taglinereferences not only the company and its products but also the audiencethey’re aiming for.

How well do you know your customers? Take the time to think about what it is they want out of a business like yours, and what kind offeeling they’re going for. Nike knows their audience wants action.Figure out what your customers want and how you can appeal to them.

Remember, feeling is what counts, and a tagline needs to be powerful if it’s going to work. The best taglines are five words or less, whichmeans you don’t have a lot of room to work with. Short phrases are a loteasier for people to remember, and the more concise you are the fasterthey’ll be able to understand what your company is all about.

What can you say about your company that people will latch on to and remember? What phrase just begs for people to give you their undividedattention? I’m not trying to say this is going to be even remotely easy,and only someone who intimately knows the company will be able toreally understand what feeling should go into a tagline.

How to use a tagline is just as important, too. Coming up with one may be the hardest part, but what good is it if no one sees it? Makesure when printing business cards that all of them have your tagline onit. Do you send out a lot of letters? Letterhead printing labels all ofthem. Pocket folders are another way of ensuring everything you send outconnects with your company’s tagline.

And, of course, don’t forget about printing posters to put up around your store. Everything you do should have an association with yourtagline if you’re going to get people to remember it.

Forming a perfect tagline can be one of the hardest things for any business to do. Just because they’re short, don’t let that fool you intothinking they’ll be easy to make. Writing one might be difficult, but itwill definitely pay off in the long run.

Hope this Helps,