Identify The Business Changes
Shortsalepowerhour.com is thrilled to welcome Kristian Peter to the program today. Kristian operates a giant real estate business in the San Diego region. At one point in the last few years he was working more than 700 REO homes. Kristian knows volume and he knows the real estate industry. However, the amount of REO properties he presently has decreased to about 118 houses. This has triggered a shift in his business model.
Kristian is moving his REO business model to the short sale marketplace and investors. Ultimately, he is taking a peek at the business model he has formed and transforming to a short sale operation. The staff have done a good job of training themselves to handle short sales and are now aggressively searching for house owners that they can aid in the short sale method.
Kristian, with his prior real estate experience, has developed a good reporte with lots of of the lenders that he deals with in short sales. This has given him some insight as to how the banks are also shifting. The bank asset managers are being moved over to the loss mitigation section or being layed off. Banks believed the REO volume would be there, but it simply hasn’t come. This is vital because the lenders are saying many things about where the industry is going, but if we take a closer look at their actions, we see that they too are preparing for the flood of short sales through the bolstering of their loss mitigation workforce.
Short sales are becoming the chat of the day. Lots of real estate specialists are changing to the short sale trade. The lenders are shifting as well. Everybody is trying to find the greatest place to make a paycheck. Many bankers are even shifting to the real estate side of this industry.
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