REO / BPO Real Estate Services - SE Virginia » hampton

RDCPro Designation Complete

admin — Mon, 27 Apr 2009 04:37:17 +0000

RDCPro - REO Default Certified Professional

Well, it’s done. The second course of the RDCPro at defaultschool.com is done. ‘Advanced Evaluations’ was a bit more of a bear to get through. I am now officially an RDCPro Certified REO Professional.

Some agents are questioning the need or accuracy of a certification. Now, more than anytime, the Asset Managers need to know that the people doing the BPO’s and REO listings are actually qualified to handle the work. The industry is flooded with agents with little or no experience and no qualified supervision.

The REO network agents have been running business a bit loose. It’s time to implement certification and designations so that the CLIENT will have a Broker/Agent that will meet at least a minimum of standards.

I’ll report back if this actually leads to more business or not.

Regards,

“When did entering a REO listing in the MLS become ‘marketing’?”
Licensed in the Commonwealth of Virginia
©2009 Troy Deierling

Post from: REO / BPO Real Estate Services - SE Virginia

RDCPro Designation Complete

RDCPro Designation and the REO Network Agent

admin — Wed, 22 Apr 2009 03:59:13 +0000

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Written by: Troy Deierling, REO Division, EXIT Realty Deierling Assoc. (757) 715-4793 troy@exitrealtyda.com
www.REOHamptonVA.com www.RealEstateWilliamsburg.com www.VirginiaTeam.com

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REO Business: Is it right for you?

REO is the buzzword amongst Realtors of late, at least the ones still standing! I’m aware of a great number of agents trying to break into the business. Unfortunately, it is a specialized skill that can not be acquired by simply signing up for BPO’s. The fastest and perhaps the best way to learn the REO business is to apprentice for a strong REO Broker. No Asset Manager has the time to teach the business to Agents. They are swamped and need our professional help right now. We learned quite a bit by joining the NRBA back in 2001. They are not taking members now so you’ll need to find alternatives.

Agents also need to understand what they are getting into. This is not the place to wear an Armani suit and roll around in a Mercedes. For me, it’s Levi’s and a 7 year old Durango. Keep it low key when you’re out there taking pictures. If you have a low “gross out” threshold, you are not going to like this industry. It’s not glamorous, it takes a lot of hard work and discipline. You have to be organized. Miss an Asset Manager deadline and you may not see any business from that client again and they do network with each other.

REO Certifications:

Susan and I have been involved with Real Estate Owned (REO) since 2001. The market took a downward turn after the horrific events of 9/11 so we branched out of our successful plain vanilla residential practice and into REO.

With the upturn in foreclosures and the economic downturn, I felt it was time to sharpen up my skills for this segment of the Real Estate Market. REO’s present their own unique challenges and rewards. I and our other REO Division members attended a 6 hour REO Basics Course presented by EXIT Realty’s Jeff Lobb, live, interactive and online. I was actually doing two BPOs during the breaks so it was a good day for it. It’s great to get a refresher and catch up on new trends in the REO foreclosure marketplace.

I also looked into some of the REO and BPO designations available. Make no mistake, plenty of bad (expensive) training is out there but the RDCPro and the 5 Star courses seem to be well reviewed and accepted within the industry. I started the RDCPro Designation (REO Default Certified Professional) at www.defaultschool.com. The first course is “REO Best Practices” and is a comprehensive training module on REO listing management. Cash for keys, winterization, building a contractor team and much, much more. Most importantly, doing what you must to be on time with all work. Valuations are touched upon but the second course “Advanced Evaluations” is an intensive training on proper real estate valuations (typically referred to as BPO’s or Broker Price Opinions). I’m about 3/4 of the way through the second course. What I’ve gained most from the course are some of the finer points that I either did not know or had overlooked in the past. I’m very glad I’m taking it.

I’ll report back if this has helped in getting more REO assignments and BPO’s.

“When did entering a REO listing in the MLS become ‘marketing’?”
Licensed in the Commonwealth of Virginia
©2009 Troy Deierling

Service Areas by ZIP Code:

23001, 23003, 23011, 23017, 23018, 23030, 23050, 23061, 23062, 23072, 23081, 23089, 23090, 23107, 23124, 23127, 23131, 23140, 23154, 23155, 23156, 23168, 23178, 23181, 23183, 23184, 23185, 23186, 23187, 23188, 23190, 23191, 23601, 23602, 23603, 23604, 23605, 23606, 23607, 23608, 23609, 23612, 23628, 23630, 23631, 23651, 23653, 23661, 23662, 23663, 23664, 23665, 23666, 23667, 23668, 23669, 23670, 23681, 23690, 23691, 23692, 23693, 23694, 23696,

757 area code
804 area code

Post from: REO / BPO Real Estate Services - SE Virginia

RDCPro Designation and the REO Network Agent

Second Mortgage Disaster on Horizon?

admin — Sat, 18 Apr 2009 00:35:12 +0000

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CBS 60 minutes show ran a rather frightening segment on another looming mortgage disaster on the horizon. This new wave of foreclosures supposedly will be coming from mortgage companies and banks abusing a Alt-A mortgage program and a program called an ‘option arm’. I don’t recall hearing about either of these programs so perhaps they weren’t available or popular in our area. I’m skeptical of this report but thought it was worth taking a look at.

Here’s the video.

“When did entering a REO listing in the MLS become ‘marketing’?”
Licensed in the Commonwealth of Virginia
©2009 Troy Deierling

Post from: REO / BPO Real Estate Services - SE Virginia

Second Mortgage Disaster on Horizon?

Foreclosure and REO outlook in SE Virginia

admin — Fri, 17 Apr 2009 04:52:32 +0000

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At this time, we seem to be approaching another wave of foreclosures with the lifting of the foreclosure moratorium. Williamsburg hasn’t seen a large number of foreclosures yet. We are seeing a fair number of REO listings in Hampton, Norfolk and Newport News.

Investors do appear to be coming back into the market. This should clean up appropriately priced properties and homes quicker than we’ve seen in the past year. If a REO home is not priced right, it will sit.

Be sure to give us a call if you have assets you need to sell. We will give you a fair market valuation oriented to your sales timeframe.

Primary Service Area: Hampton VA, Newport News VA, Yorktown VA, York County VA, Williamsburg VA, Gloucester VA, Gloucester County VA, New Kent County VA, Charles City County VA, Hopewell VA, Lanexa VA, Toano VA, Norge VA, Poquoson VA.

Secondary Service Area: Norfolk VA, Virginia Beach VA, Portsmouth VA., Suffolk VA, Surry VA, Mathews VA, Chesapeake VA.

REO and BPO SERVICE AREAS

Service Area by City:

Barhamsville Virginia, Charles City Virginia, Charles City County Virginia, Gloucester Virginia, Gloucester County Virginia, Hampton Virginia, Lanexa Virginia . Mathews Virginia, New Kent County Virginia, Newport News Virginia, Norfolk Virginia , Poquoson Virginia, Providence Forge Virginia, Surry Virginia, West Point Virginia, Williamsburg Virginia, York County Virginia, Yorktown Virginia

Post from: REO / BPO Real Estate Services - SE Virginia

Foreclosure and REO outlook in SE Virginia