Pinehurst;
Sorry I had work to do...as I just saw you are waiting; I would not want to keep you waiting much longer....
Who deserves to list REO's is very simple ..those who deserve to list REO's are the best qualified to provide the best service which should equate to the best price for the owner. This is issue has been pounded into the ground; and it is obvious some of you think the best is from a property management point of view and very few think from a marketing point of view. Need I go on???
Obviously an AM can place with whoever suits them; is the current distribution equitable in light of the current events and/or is it in the best interests of the public; obviously not. It is in the best interest of the AM not their client.
If you read the posts, you will see I have been listing REO's since before 2000.
If a govt agency divided up the allocation; I would be surprised if any of us would have more than 10 active listings at a time. We then would put all of our efforts to selling them so we could get another; I presume that is not what you want, you would prefer the property management phase? The real criteria would be the ability to sell not list. Right now the ability to list and manage is more important than the actual ability to sell and you know that to be very factual. From all of your posts, I don't se selling as a priority; I see maintenance as your criteria.
What babble; your complaint is that I have not answered your questions.
Why would you think I am not an agent? Why would you think I have not listed a REO? These are rhetorical questions.... I knew my view would be a little off the line of thought in this forum; but the real question is still the same; are we marketers of real estate or property management types. Obviuosly most of you feel that because you have so many listings; you are property manaegment types and that is what AM's are looking for. Maybe the AM's need to rethink that and go back to the successful marketing realtors and let the property management types go into property managemt.
I really do know that a lot of you do really agree with me; you just don't care to enter this fray with the property managers. The selling realtor does not have that many active listings; the property managers have a bunch they will eventually lose and it will be no fault of their own; just the "business."

Jack - You may want to reread 'my' posts - you should even if you don't really want to - just know that no apology is necessary.

The question remains - what qualifications would you impose on brokers seeking REO? If your view is superior then just explain how it would work.

The focus of my questions to you and an other were different and asked to give you credence to your views.

You also want to suppose what I think, feel, want and know - I am sure you are not qualified to do that.

Let's get detailed - give us a creditable plan.

Also note - the request to change the tack and tact - which appears you missed, but it would go a long way in convincing others your plan is better.

btw - as far as the petition goes - it's a farce.

Jack
Obviously, we are in the business of selling homes not property management, that is evidenced by the compensation received (at closing, not a management fee during the list process).
However, in REO, about 60% of work is the management of an asset. There is no way around it, we have CFK issues, Eviction, personal property issues, repairs, vandalism etc. Also, title/ inspection problems are common.
These REO-specific issues arise constantly. You will constantly see newer agents posting the questions abouth these issues. Nothing against that, we all have to learn sometime.
However, banks will not want to spread their listings to 1000's of new agents and then field constant phone calls/ emails requiring direction.
That would truly be to their detriment.

Jack,
My average days on market for my last 20 CLOSINGS is 28 days. I sell homes... but they would not sell if they werent properly "managed" :) Now, granted I have listings that are a little rough that have been on the market longer than that but my goal is not the management of the property, it is the end result; and everything I do to "manage" the property is with the intent to SELL.

Thanks

Well put Keene. I would take it further and say an REO broker is a manager by design, that is, there are management duties involved. Of course the sale of the property is the end result, its what you need to accomplish to be successful.
Marketing? I am a marketing pro. I can market property in my sleep.
I have sold property with with one phone call or one email.(something selling agents can't comprehend or sometimes don't like, but its my responsibility, not theirs.)
Management on the other hand, is more labor intensive.

I received the email requesting signatures. My first thought was another scam (and still is). You pay them how much for their "certification" that means absolutely nothing to any AMs. If Congress did waste valuable taxpayer time on this, the AMs would first go to NRBA members than REOMAC finishing with RDCPro designation that some AMs require now. Or they could assign the property with a squatter, leaking roof, mold, etc and ask them to get it ready for the market, out of pocket of course. Do the CMA and estimate the cost of repairs, utilities in the agents name, if it needs a roof take care of that and send in for reimbursement (most hungry agents do not have the funds). Do they have someone that will do trash outs, winterize and have even the slightest idea of how to market an REO! Next comes the surprise call from the AM "What are you doing to market this property?"
Maybe the agents that want part of this market should do it like the rest of us - start at the bottom and work your way up (means earn it) How many of these REO agent wannabees will be interested when the market turns? If they wanted REOs they should have been doing them when the market was escalating at a ridiculous rate.
I'm done venting

Have a good day all

So when the VA contract for homes goes to Ocwen or Countrywide or who ever, these are government owned homes. So using the annalogy of this fake petition, all of us should be listing VA homes. I am qualified as a REO agent yet I don't list them. Waaaaa!!! I want it now!

Cut and paste of e-mail I just received in my SPAM folder - Please note that the Sender is FannieMae (note the real sender name)

'Nuff said

fromFannie Mae <sales@calibankhomes.com>
to CanDo@gmail.com
dateTue, Apr 7, 2009 at 6:54 PM
subjectFannie & Freddie to open REO Listing Markets, Are you ready?
mailed-byserver.mpsdirect.com



Freddie and Fannie to open doors to new agents for REO listing assignments
Last week, National Association of Realtors President Mr. Charles McMillan sat down and spoke with the CEO of Freddie Mac, John Koskinen and Fannie Mae's CEO, Herb Allison to discuss Realtors concern that Fannie and Freddie are not fairly disseminating REO listings.
Both CEO's agreed that they would comply in broadening Realtor participation in assigning future REO Listings. Although the total REO inventory of Freddie and Fannie is not known, it is estimated to be 50% of all foreclosure inventories nationwide.
The National Association will be posting how to take advantage of this historic opportunity in their Washington Report next week. More details on the meeting can be found on NARs web site:
http://www.realtor.org/about_nar/presidents_report/_podcast_archive/mcmillan_policyupdate_20090319
This is a monumental development for Realtors that have been trying to break into the REO business. Mr. McMillan deserves a ton of credit for listening and acting on the concerns and welfare of the vast majority of his constituency.
Are you ready to seize this opportunity? It is highly probable that new agents will be screened prior to receiving REO assignments. Agents that have not taken the time to educate themselves are likely to miss out on this once in a career opportunity.
Nothing will prepare you better than the Certified Foreclosure Specialist Training by ForeclosureU.com. It will provide you the most comprehensive education available on REO’s, so you can hit the ground running. Additionally, we have just added a special addition to the "Certified Foreclosure Specialist training that details, step by step, the process for applying with Freddie and Fannie. This special addition has being added at no additional cost!
Don't be unprepared or under informed! Seize this chance by maximizing your knowledge on the REO business with the CFS Masters Training and apply now to start receiving these bank owned property listings.
Visit our web site, www.ForeclosureU.com, to learn more or call today (800-209-9502).

Does anybody know how we sign up with Fannie, I have the link to thier vendor application , and its on excel, but evertime I go to the spreadsheet there is no application.

Here's what I do know. Fannie is outsourcing (she didn't used to) to a group of different AMCs. Freddie is accepting new agents right now and training is in progress. As to how to apply? Clueless, positively clueless as to how to apply directly although I could find out pretty easily.

On the Freddie side, at least, they have a very loyal group of LA's that they have also been loyal for. The fact that they have "opened the books" and running training doesn't mean they will make a major redistribution of assets.

In our areas, they might have 50 or 60 per year that go to three different brokers. Not a huge number per broker.

On the Fannie side, they have started to outsource, and many of us that were crying for Fannie assets for a long time are starting to see them. But you've got to be part of the outsourcers approved list to get them.

Wait until one of these newbies gets a Fannie asset and has to front a $20,000 repair bill.

I believe what bard stated says it all !!