career - Blog - REO Pro Network

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.

Here's a blog I "borrowed" (with permision of course) from one of our company blogs. It hits home with some of the discussions around here lately that I have been reading and thought I would share!Mastering Your CraftBy Michael McFaddenOnce you find yourself doing what it is you enjoy, always practice, practice, practice on getting better. Remember the Allen Iverson controversy (2006) “practice, we talking’ about practice”. We’ve heard that statement many times before with how important practice is, but so many times we get very complacent with our performance.We do just enough to get by! Just enough so that everyone thinks we’re working hard. Do you know what separates the best from average? Practice! I’ve said it a thousand times before, what does Tiger Woods do when he’s not playing golf? Practicing. What do athletes do after a big game? They go back and watch tape and you guessed it…Practice.But so many times, we get complacent with where our performance level lies, because you figure that, if I work any harder, it won’t make a difference. Trust me, successful people don’t think like that. They’re always looking to improve their craft.I recall hearing Joel Olsteen say “if you read about your profession an hour a day, for 2 years, you become a professional in the profession.” And the word smartness is “an ability to absorb new facts” according to Bill Gates. Ask an insightful question, have a capacity to remember, to relate things that may not make sense at first, like algebra – (still haven’t got it yet?). That’s smartness.How do avalanches start? One small snow flake at a time and over a period of time, they begin to pile up on top of each other, creating an uncontrollable force that’s unstoppable.Whether it’s reading, attending training classes, listening to other speakers and even hanging around other people that share the same interests as you, that’s what improving your craft is all about.Remember this: Amateurs practice until they get it right, professionals practice until they can’t get it wrong.It doesn’t matter how good you are at what you do, or how smart you are, always strive to be better at it!If we want to call ourselves "Professionals" then we need to work on it everyday! Real Estate is NOT a part time job that you do on the weekends when you have nothing better to do! But yet we see more and more folks do just that. Lucky for the Real Professionals, this market has been weeding these "part-timers" out as we go.Thanks for reading!Steve Adkins - RealtorNFSTI Certified REO SpecialistThe Adkins GroupBetter Homes and Gardens Real Estate Metro Brokerswww.The-Adkins-Group.com

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Affiliate Broker’s REO Career Destroyed by Their Managing Broker

Master Your Craft!

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