ASREOS Blog: The REO
REO sales are expected to be double what they were last year – and even higher in 2011.
45% of potential homebuyers have interest in specifically buying an REO home – because they know they can get an amazing deal.
New foreclosures, however, are slowing down – but only because the banks and asset managers are too busy trying to cope with the old foreclosures.
And, if a new double-dip recession hits later this year, as many economists are predicting, that will mean a new surge of REO homes on the market.
If, 6 or 7 years ago, we happened to be in the middle of a giant housing bubble, it’s pretty clear that bubble has transformed into a huge pit; a huge pit that’s going to be hard to climb out of – with REO agents and brokers will be leading the effort.
And ASREOS (the American Society of REO Specialists), the innovative and exciting trade organization I began a few years ago, is the perfect place for REO newbies and pros to network, swap secrets, and help each other to gain an incredible competitive edge.
Let’s face it – everyone sees the opportunity in selling REO homes. Many, many people want to know how to become an REO agent and how to get REO listings. And there are a lot of so-called “experts” out there training folks who don’t know what they’re doing.
Look, I was in the REO business back in 2000 and worked my way up the chain to become a top REO agent – long before any of this foreclosure madness was even on the horizon. I know the market in and out. That’s why I started ASREOS – to provide informed and effective resources to both beginning and veteran REO agents.
There’s enough REO action out there for everyone and there will be for some time. But for those who take the time to educate themselves about the unique aspects of REO transactions, as well as get the most up-to-date information on an ever-changing marketplace, there will be a higher success rate and a bigger piece of the pie.
That’s why I encourage everyone who is a member of ASREOS to take full advantage of what we have to offer. And if you’re not a member, I invite you to take a look at our website at www.ASREOS.com for more about who we are and what we do.
Numbers and facts don’t lie. And right now, they both agree – REO homes are going to be big business for years to come.
