Posted by Johnny Huang on January 30, 2010 at 12:11pm
Lately, I'm finding myself (and I'm sure the other folks in this forum) a bit impatient regarding listings and REO's.When REOPro announced their Realty Pilot, assigning REO's, referral fees, people jumped for joy and wanted it now!When Excellen announced their survey was going out, I knew everyone would be excited like kids at a candy store waiting for a free hand out. It is wonderful to hear new developing news, but really, it's developing news!When Res.net sent out that "email" (granted it was announced premature by the CEO of Excellen), I bet people signed up for Res.net and AMP without blinking.I WANT TO SAY HOLD YOUR HORSES, HOLD YOUR POSITION, OR WHATEVER YOU WANT...JUST BE PATIENT AND GET OUT THERE AND PROMOTE YOUR BUSINESS LOCALLY!Who can we blame? No one but ourselves. We are a "I want it now" generation. I want my email now, I need my listing now, I need my coffee now! Forget brewing it, I need it NOW!!!Ok folks, time to step back and look at your position in the real estate chess board. We all want business, but are we lined up correctly? Do you have your education lined up? Do you have your contact management lined up? But wait, we're in real estate! It's not just about listing, right?I think we are missing the other half. Buyers need us as well! Do you have a marketing plan to generate buyers, even if you don't have listings? Do you socialize outside your friends and families and stick your neck out of your comfort zone? Are you using Meetup.com, chamber of commerce, realtor marketing groups to generate referrals?After reading "The Millionaire Real Estate Agent" it's all about the 3 L's. Leads, Listings, Leverage. Leads is a big part of the business, without it, you can't hit the listings.GL, HF, DD :-)
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Well, I was doing some research on all of these companies who offer a certification program with the chance to list REO’s. Well I came across www.ForeclosureU.com and browsed over to the “Realtor Director” they have and pulled up Tennessee.
I found 10-15 agents and sent them all an email asking for their endorsement of the program. I had 5 agents reply back and out of those 5 not a single endorsement….not a one!
I asked each one if anything good came out of the program. 3 said, nope, nothing good at all and, 2 said, they had a basic knowledge of REO now but, that’s all.
I asked each of them did they make any connections, get any leads or list a single REO and all 5 respondents said, no.
www.ForeclosureU.com markets themselves as providing an outstanding REO education as well as putting its graduates on a list that is heavily “marketed” to Asset Managers and REO Brokerages but, in my opinion, it’s not worth it.
If you have an experience with www.ForeclosureU.com please feel free to share it, I would love to hear about it.
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