freddiemac (2)

Of late, I find that the markets I work in, (Phoenix, AZ and Sacramento, CA), have slowed to all but a screeching halt as far as receiving REO assignments go.As everyone knows in the business right now, if your selling for Fannie or Freddie, you're a lot busier than the rest of us...I could bemoan the unfairness of the favor Fannie & Freddie REO agents in my office of 300+ enjoy, but what's the point, they got in and I did not.Despite having the trust and regard of my asset managers, their pipelines have also slowed to the point where assignments have all but ceased. They insist that I am rated highly and considered an agent who is one of their preferred choices for assignments.YET none are forthcoming!So now I'm told to hang on because the business is going to pick up after the holidays.In the meantime, this begs the question "Now What???"I am busier than ever doing Titanium assignments, BPO's, and working with buyers to keep afloat.What are you, the other reo agents, doing to survive these lean times?Working at WalMart? Taco Bell? Or worse yet; a CAR LOT!One thing is very apparent, I work harder than ever, earn less than ever and are happy to do so.I will also add this, I know more about what a property is really worth in any given market and have a better idea about what it takes to get an offer accepted than 98% of the agents working today because of all of the extra work I do to survive. To me, that's a good thing. What are the rest of you doing to survive and hopefully grow?My teams are transitioning over to shortsales.Any ideas out there on best practices for finding the not-so-elusive shortsale clients?Times may be tough but Distressed Property Specialists are tougher!
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Who’s Going to Five Star?

Hey, who’s going to Five Star? I responded to a post about a month ago that I thought I’d share with you if you’re going.

The Post:I will be attending the 5 Star conference this year in hopes to further the REO business for my company. Can anyone that has attended this in the past give me any pointers.My Reply:Just remember...when you go, you are there to get information - you are on a fact finding expedition. Collect more cards than you pass out; don't take brochures and the like. Remember, most of the AMs there are from out of the area. They are not going to pay extra to add your brochure to their luggage weight. Guess where your brochure is going? Correct! So you can see how important it is to collect their contact information instead, so that when you get back home, you can solicit them. Any thing you do hand out, be sure it has your phone number and email address on it. Additionally, once back home be on the look out for an excel spreadsheet that will come via email and include the contact information of each and every attendee of the conference.Hope this helps. Good Luck!
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