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."I’ve written a new book, that listeners can download for free!  The title of the book is: The BOSS...An AI Machine That Can Run Any Real Estate Business While The Agent Is Out Selling Homes. Who should read the book? Any agent that finds their marketing stops when they get busy, their database sits untouched, and follow-up depends on their memory. This guide shows how AI can keep the business-building work moving behind the scenes. Download it and see how experienced agents are using AI behind the scenes to earn more while working less! You can grab it now at www.TheAIBossBlueprint.com