Phoenix REO Real Estate Agents Could Have Tough Road Ahead

My how things change. They say what goes up must come down. That is what they say. If this statement is true for any industry it?s real estate. It is called a real estate market for a reason. In 2004 there was the refi market, 2005 was the investor market, 2006 thru 2012 were the REO market and 2007 to oh let?s say 2016 is the short sale market.

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I was a title rep in Phoenix. My job is to get REALTORS, Investors, Builders, Buyers, Sellers, FSBO?s to use my Gilbert title company over one of the other 60+ in the Phoenix Metro area. I go where the business is. In 2004 the business was with banks and mortgage brokers, in 2005 the business was with REALTORS and Builders, in 2006 ? 2012 the business was with Banks and REO Real Estate Agents.

I go where the business is.

I called REO real estate agents here in Phoenix. I called, emailed, facebook chatted, tweeted, I did everything [I could] to get in front of them. My message was simple. I wasn?t looking for business, no ? this was not a one way relationship, I was looking for a trade. The trade: Use my title company and I will help you get ready for the next change in the market. You see marketing had changed considerably from 2005 to 2007. From direct mail to websites, seo, social media, video. From chasing consumers down to having them find you online.

Many REO Real Estate Agents met my trade with disbelief ?this market is going to go on forever!?, another REO real estate agent pulled out a list of the top 250 REALTORS in Maricopa County to show me where he was [thank you for that!]. Others didn?t even return my phone calls.

I tried.

This was a very frustrating time in my title business. For as long as I have been in the title industry, I have been one of the top performers. I built my business on relationships and value. For the 1st time in my career it was not about me or the value that I could provide. Business was being directed and decided by asset managers, REO real estate agents, people that I didn?t know that didn?t know me.

This was a very disheartening time for me. Rather than sit and do nothing I studied marketing. WordPress, Video, SEO, Optimization, Content Creation, What Consumers Want, Search and more.

I found an outlet. Video.

The real estate market has changed again. in 2007 there were over 25,000 REO listings in the Phoenix Metro area. Last year at this time there were over 10,000 REO listing in Metro Phoenix, today there are only 1,500 REO listings. As REO real estate agents, the former kings of the Phoenix real estate market, do everything they can to remain relevant, to remain in business ? calling old databases ? [Hi Bill, Hi, it's me Stephen, I sold you a home back in 2005, how are you? Long time no talk, how is your [CLICK!] I wish many of the REO real estate agents would have taken heed and realized real estate markets do change. You will not be the top dog forever.

I always knew this real estate market would change, but even I did not know it would be this drastic or occur this fast. This is what I said back in 2010.

The market has changed, its not too late. If you are one of the REO agents you have a few choices. You can keep riding this REO train off into the sunset or you can shift your business from REO to Short Sale and Resale. The way you get business has changed. Instead of banks handing you listings you now have to help consumers find you on the Internet. You need to provide value they would look for when they finally have a need to buy or sell. While many of your vendors cannot help you make this change, I can. I can because I made it myself 3 years ago. I don?t walk into real estate offices anymore and ask for business, I don?t cold call or send mass emails, I create content for my ideal client to find me when they have a need. Lawyers Title will teach you HOW with our Phoenix Real Estate Marketing Classes?Do you have a need? I can help. You buy the coffee and I will do the talking.

Source: http://mytitleguy.com/2012/02/reo-real-estate-agents/

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