The buzz word in the media is revolving around foreclosures and how consumers can benefit. The media is portraying the market as an unstable commodity that is about to explode with underpriced REO property. For those in the Real Estate business we know this is just not true.
REO properties account for 1.1% of all active listings in Fullerton and they are priced AT market value. With that being said.....
The marketing ability of an REO for Realtors far exceeds the benefit for consumers. While Realtors know that Short Sales and any home in the pre-foreclosure stage can mean more headaches than they are worth on the buyer side, the consumer feels this is where the deals are. So, let's use that to our advantage.
It is important for Realtors to know it is illegal to be a Foreclosure Consultant, however you may educate clients on the foreclosure process. I have been building relationships with prospective buyers by helping educate them about how to buy a foreclosure. At some point most savvy investors realize that they are not going to get the deals they thought. But, what this has done for you is build a relationship built on trust as you had the best interest of your client in mind.
I have found that open houses are a excellent place to casually talk to prospective clients about the foreclosure process. It is important that they see value in your knowledge. Offer them foreclosure, REO, and short sale lists, but do not just give it to them. Request an appointment to go over the process in general, and start to build the relationship.
It is my opinion that Realtors need to get back to basics with relationships and trust which utilizing todays media and technology.
Adam Brett
RE/MAX NOC
Fullerton, CA
714.496.8116
800.977.ADAM
realtoradam@gmail.com
www.realtoradam.com
http://activerain.com/realtoradam