Episode 53 – The Good and Bad of the REO Business

IntroductionHost Bob Mangold welcomes listeners to If You List, You Last episode 53.Follow-up to last week’s "Building a Recession-Proof Business" topic.Importance of REO (Real Estate Owned) as part of a recession-proof business.Encouragement to join the Real Estate Asset Advisor Facebook group for discussions and resources.Main TopicsWhy Listings are KeyListings offer time freedom and a scalable lifestyle.Contrast between listings and working with buyers in terms of time investment and profitability.Success story: Robert’s ability to manage multiple listings while traveling 70% of the time.The Power of Efficient ProcessesLeveraging Zoom for listing presentations since 2020.Steps to streamline paperwork and close deals faster using tools like DocuSign.Focus on selling realistic and well-priced listings.Effective Prospecting StrategiesKey groups to target: FSBOs (For Sale By Owners), expired listings, pre-foreclosures, and attorneys.Robert’s 10-hour weekly prospecting routine.The importance of multiple touches: calls, texts, and emails.Why You Need a Strong Vendor NetworkBeing a resource for clients: painters, plumbers, and contractors.The value of offering solutions for home repairs or junk removal to speed up the sales process.Building referral networks with vendors and fostering long-term partnerships.The Business of Real EstateTreating your career like a business by tracking and measuring key metrics.Understanding conversion rates from calls to listings.How efficiency and tracking lead to scalable success.Tips and InsightsPattern-interrupt strategies for connecting with prospects.The value of maintaining consistent follow-up to nurture leads.Advice for handling unmotivated or overpriced sellers.Wrap-UpListings generate more business from buyers, investors, and other sellers.The importance of working smarter, not harder, to achieve financial freedom.A reminder to treat real estate as a business, not just a job.Resources and ClosingVisit bobmangold.com to schedule a consultation.Final thought: "If You List, You Last."Join our Facebook Group at:  https://www.facebook.com/groups/realestateassetadvisorsDownload a copy of my book, "If you list, you last!" at www.15HourMethod.com