REO RAPID START Coaching Group^PremiumGroup

Join REO Coach Teresa Gordon and Your MasterMIND Group Every Two Weeks:
Teresa Gordon guides you through weekly coaching calls that include these and other topics.

MODULE #1 - Building a Foundation of Fundamentals (DVD'S 1 & 2)

• The difference between traditional real estate and REO
• What you need to get started
• The general responsibilities of an REO Agent
• How a property becomes an REO and the timeline
• When does the lender start looking at the value of an asset?
• Outsourcers and their role in REO
• Referral fees and why they are paid
• Who determines what agent receives an assignment
• Redemption and how it affects marketing REO
• Cash for keys and its advantages to the lender
• Is the lender really exempt from disclosures?
• Addendums and why they are so important
• Differences and timelines in closing REO properties
• Ordering title work for REO properties
• The difference between HUD and REO
• The role MI companies play in REO
• Remember to know the business first!

MODULE #2 -First Steps to Breaking In (DVD #3)

• Client requirements when applying with REO clients and signing up online
• Making yourself marketable with little to now experience
• Writing your BIO and utilizing the experience fo your company
• REO websites to start with
• The size of your coverage area
• Implementing your plan of action
• Having capital to start your business is a MUST
• REO does not stand for instant gratification, but Reoccurring Efficiency Overtime

MODULE #3 -Basics of BPO and Its Importance to Your Business (DVD #4)

• BPO = Business Card - Professional and Accurate
  
• Your must prove yourslef to BPO and REO companies
• Assignment of the BPO
• Client requirements when choosing your comparables
• The importance of comments
• tracking your vales, adjustments and reparis to stay consistent
• Property condition ratings
• The potential income BPOs can provide
• Staffing as your volume increases while staying efficient and profitable

MODULE #4 -How to Stand Out and Create Your Network (DVD #5)

• The importance of networking
• Surrounding yourslef with successful REO brokers is imperative
• Organizations to get involved with and Conferences to attend
• How to stand out among the crowd
• The Do's and Don'ts when approaching an asset manager
• Understand that integrity is of the utmost importance
• Ethics will help you expand quickly
• The Rapid Start forum is a tremendous tool for networking and continued education