In this article, we will talk about how to stay in front of your competition and potentially get an endless stream of foreclosure properties to list as a real estate agent.
Listing Foreclosures can lead to an endless stream of listings and a predictable business in the real estate game. In the past real estate recession I say a lot of real estate agents go out of business. But I along with others, thrived. We concentrated on listing foreclosures, listing short sales, performing BPO assignments and leasing / property management.
There Be A Lot Of Foreclosures Coming To The Market Because…
Due to the pandemic, there has been a lot of government intrusion in the real estate market in the following categories:
- Foreclosure Moratorium. This prevented the Banks from foreclosing on borrowers who were in default. This also included foreclosures that would have naturally occurred in any real estate market.
- Eviction Moratorium. This prevented landlords from evicting tenants who were not paying. However, landlords still had to pay their obligations with loans, insurances, real estate taxes and other expenses associated with the property.
- Forbearance. This allowed borrowers to delay making payments on their loan for over 12 months. However, this money (and interest) is still owed to the banks.
Why Will There Be A Lot Of Foreclosures For REALTORS To List?
Real estate agents who are on top of their game, will be able to take advantage of listing Bank Foreclosures simply because of the previous mention.
You see, when you have the government artificially manipulating the real estate market, bad things could happen. I believe we will see a big uptick of foreclosure listings to hit the market in 2022, 2023, 2024…
There are other unforseen issues that I believe that will affect the real estate market causing more foreclosures to be listed by real estate agents. Some include infaltion, rising insurances and the billions of purchasing of mortgage backed securities.
All and more will drive up the amount of foreclosures to come… Will you be one of those REALTORS to list these properties? By the way, you can catch a quick video I did on 15 factors to consider of a housing crash.
How Can Real Estate Agents List Foreclosures?
So, you might be asking… How can I list and sell Foreclosures? Well, I have created an extremely affordable course on this. CLICK HERE TO LEARN MORE.
Listing foreclosures as a real estate agent can lead to dozens if not hundreds of listings from ONE asset manager. In this comprehensive course, I discuss exactly how to go about listing REO’s, the process of listing foreclosures, how to get in touch with asset managers and how to separate yourself from the competition.
Listing Foreclosures Can Be Very Lucrative.
When I took my first foreclosure listing from an asset management company named Brighton, I was super pumped up! I knew this was just the beginning.
Her name was Anne. She finally gave me the opportunity I was working hard to get. Anne was the asset manager who I was calling once a week. 80% of the time, she didn’t pick up the phone. But I relentlessly kept calling with simple scripts. I also, sent her my REO cover letter & resume electronically as well as by hard mail at least a dozen times.
The hard work paid off and we listed and sold dozens of Foreclosures through that ONE asset manager. It took me a solid few months to get that account. I didn’t give up and it paid off netting us hundreds of thousands of dollars in commissions.
Ready To Be A Foreclosure Listing Agent?
I think we will see some tough times in the real estate industry over the next decade. Will you be prepared for it is the question?
This is why I not only created the REO Pros course but also our discounted Bundled Course that covers REO Pros, BPO Pros, Short Sale Pros, Property Management Pros & to boot a Financial Freedom course to keep you on track to retire early in real estate.