Who Else Wants To List 4
Bank Owned Properties Per Month ?
Dear Real Estate Professional:
Have you noticed that all the foreclosed bank owned properties seem to be to be listed
by only a handful of agents?
Do you think they know something you don't, or are they just lucky?
Unless you have been under a rock, it's no secret that the real estate business has taken a turn for the worse. Qualified buyers are harder to come by, and the competition is fierce.
"If you continue to do what you have always done, you will continue to get what you have always gotten" - Anthony Robbins
Once you know the secret, which is the exact same secret that only a handful of agent know,
your real estate career will never be the same again.
Here's my story, My name is Dwayne Roberts. I am currently a real estate broker in Nashvillle, Tennessee. I started in this business about 10 years ago, and let's just say that this business is NOT the same as it was a short 5 years ago. I was rockin and rolling closing no less than 4
deals per month, with an average month of $20,000 in commission I thought I was on top of
the world.
Then it happened ! The market crashed !
I realized that my golden goose that was laying eggs, suddenly stopped laying eggs ! The
magical never ending flow of cashed dried up and I was in denial. I burned through all my
savings, thinking that any day now I would start getting deals. again. Boy, was I ever wrong!
It gradually got worse ! Every day is was something else.
The lenders were making it nearly impossible to get a loan and now I was the one suffering
for it. I was fusterated and ready to quit, I had to do something. Many of my clients in the past were attracted to HUD Foreclosures and I noticed that they all seemed to be listed
by only a handful of agents.
I was on a mission. I vowed that I was also going to be the one that banks sent their listings to,
afterall if they could do it then so could I. First, I called the agents themselves pumping them
for as much infromation as I could get. Needless to say, I was meet with resistance. Next, I
started visiting local banks to speak directly with the bank managers. What I learned is that
banks have entire divisions called REO "Real Estate Owned" and If I wanted to get thier
business then I had to go through that department. I thought, easy enough, right?
Upon contacting the banks REO department is was evident that the person in charge, called
the asset manager, already had their favorite agents and would "keep my credentials and
resume on file". I couldn't even get my foot in the door.
Then it hit me like a brick.
I heard the term BPO, but I was clueless on what it really meant. If you were like me, let me
share with you what I learned.
A Broker Price Opinion, is a simple easy to fill in report that the majority of lenders will pay
$50 - $150 for an real estate agent to give their OPINION of what a home is worth. I could
actually get PAID to tell a lender my thoughts on the value of a property? P-E-R-F-E-C-T !
Now, you may think (like I did) that doing a CMA is not worth your time for only for only $50 - $150. But I woke up in the middle of the night realizing that I have been thinking
about this the wrong way.
Each one of these banks have an bpo asset manager who's responsibility is to determine the
value of property before starting foreclosure proceedings. It is more cost effective for them to
do a BPO, than hire a licensed apprasier. This is where you come in.
Eventually, when the asset managers finally start the foreclosure proceedings(and they always do) the agent who did the original BPO normally gets the listing.
This basic method of developing the relationship with the asset manager, as the BPO agent,
with the end goal in mind to be the final listing agent was the exact same method these other
agents in my town had been using all along.
But, I still had a problem. The "local" banks were already taken so I had to really think outside
the box. I started doing massive research on banks that did mortgage loans in Tennessee from
all over the country. Mortgage loans are bought and sold everyday, so it was not uncommon
for a mortgage on a Tennessee property to be owned by a bank in California.
Over the course of the next year, I had found over 200 banks that had property all over the
United States. Each time, I would simply "Sign Up" with an asset manager (in charge my state/area) to perform BPO's and the process would begin.
This system was so easy to do, that I wanted to share my experiences with other real estate
agents. (Unless they live in Nashville or my surrounding areas).
Here are the simple steps to follow to start developing your relationship with asset managers.
Sign up all multilpe lenders to do BPO's
Complete the BPO's a quick manner and submit before they are due
Wait for home to be foreclosed and get the listing
When I first started, I was not getting any listings. The banks were slow to start sending me
orders for the first 90 days, but it was ok with me because I had the end goal in mind. Within
my first 5 months, this built up to getting an average of 8 BPO's per week. Depending on
if they wanted exterior and or/ interior photo's would determine the compensation awarded.
I averaged the BPO's to be about $75, so I was averaging $600 per week in compensation
for doing the BPO work. But I still was NOT getting any asset managers to give ME any
listings.
I discovered that it was not as easy as I thought.
Just like your trying to get a job interview, you need to put your best foot forward and present
yourself as a trusted real estate professional in order to get selected.
If you want to date someone, you always put your best foot forward. This was no different.
After trying several different introduction letters, phone calls, and fedex envelopes with candy
bars in them, I developed a system that nearly worked 100% of the time. Now, I am a good
sales person, so I can not guarantee your indiviual results BUT I can guarantee that you will
have an upper hand and stand out from the other agents who are also trying to win the hearts
of the asset managers.
I am making $10,000 per month using this proven system
I am interested in helping other people become successful. I love it when people buy my
course and send me emails and video messages to share their first excitement of landing
a big account like BankofAmerica or SunTrust Bank.
I have put together an entire step-by-step system that takes you by the hand and shows
you how I make $10,000 a month or more listing bank owned properties. This system is
broken down so simply that even a child could do it. Many hours of blood sweat
and tears went into developing what I wish I had when I first started.
You get all the following:
3 ring binder to keep you organized.
Introduction to working BPO's.
Success Guide.
Complete BPO List.
Forms to keep you organized.
Surprise Bonus!
Following my system, you will be able to instantly start signing up directly with over 100 +
the lenders and start developing relationships with the individual asset managers. Within 30
days, you could be on your way to getting 4 or more bank owned listings per week.
Rememeber: BPO's turn into REO's.
Every week or two, the asset managers will authorize a price reduction until the home sells.
Price sells homes, period. Eventually the home WILL sell, because they will drop the price
until it does. If one of my agents took 24 listings per year (minimum) at an average price of $125,000 would mean $72,000 in commission to them! And that has absolutley nothing to do with the money they will be making off of doing the BPO's themselves. If they only 5 BPO's per week for a year (at an average of $100 each) that would be an additional $26,000 in gross commission.
Our very best month earned us $95,313.20
Now that I have been able to get consistent business from banks, I have been able to enjoy the type of lifetstyle that I was used to when the market was hot and I had my never ending source
of money flowing into the bank. Although there is work involved, I now have the comfort of knowing that I have built a substantial business. Recently, I have been able to take a few vacations with my family again.
Here is a fun little video clips of the past 12 months I have been able to visit:
BPOVACATIONVIDEO
It has been nice to finally enjoy life again. I have not been stressed about hunting down
my next closing or trying get buyers credit qualified. Since I put this program together, I
have been able to put together an team of agents to help me with the overload that I can
not handle.
This course literally walks you by the hand and sets you up for complete success. All forms are placed on a CD for easy access and you get a three ring binder to keep organized.
Here is a complete breakdown of everything that I have put together in this powerful system.
Customizable MS Word introduction and followup letters to asset managers.
Complete BPO secret list of 200 companies to sign up directly with banks.
Customizable website that showcases you as a BPO/REO expert.
Completed BPO for reference.
Checklist and forms to keep you completely organized.
Customizable MS Word resume.
Quick Start Manuel.
How to list bank property reference guide.
How to list short sale property reference guide.
Proven script to use when talking with asset managers.
Surprise Bonus valued at $3500.00
YOU GET FREE LIFETIME MEMBERSHIP UPGRADES
Naturally I am sure that your wondering what this system is going to cost you. I have consulted industry experts and given them a free copy of my system for their opinion. Based on the
feedback that I received, this is a steal at $1500 for this system. But you're not going to
invest anywhere close than that. For a very limited time, I am offering this complete turnkey
system for only $995,$695>,$295,only $97! + $4.95 For S&H. Total = $101.95
Unconditional 100% Risk Free Guarantee !
If you're not 100% fully satisified, I don't want your money. I believe in Karma,
so take a full 60 days to review this system. If you feel that you gained no value from this system, simply return the kit for a full 100 % No Questions Asked Refund!
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