Episode 53 – The Good and Bad of the REO Business

Introduction

• Host 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 Topics

1. Why Listings are Key
   • Listings 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.
2. The Power of Efficient Processes
   • Leveraging 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.
3. Effective Prospecting Strategies
   • Key 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.
4. Why You Need a Strong Vendor Network
   • Being 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.
5. The Business of Real Estate
   • Treating 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 Insights

• Pattern-interrupt strategies for connecting with prospects.
• The value of maintaining consistent follow-up to nurture leads.
• Advice for handling unmotivated or overpriced sellers.

Wrap-Up

• Listings 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 Closing

• Visit bobmangold.com to schedule a consultation.
• Final thought: "If You List, You Last."

Join our Facebook Group at: https://www.facebook.com/groups/realestateassetadvisors

Visit our website to watch replays of our Wednesday "Elevate Business Briefings" at: www.RealEstateAssetAdvisors.org

Download a copy of my book, "If you list, you last!" at www.IfYouListYouLast.com