When the market began to change, there were maybe 10,000 REO agents in the country. That number quickly ballooned to 100,000 agents seeking REO work, and the banks quickly developed a one-strike policy. If you can’t do the job, you get dropped, period. They mark your file DNU, which stands for Do Not Use, and it follows you no matter how many personnel changes occur at the bank.
The key with a no-margin-for-error new person in that position every week, “don’t call me, use e-mail only client” is to be very competent and be very competent quickly. We had that one listing with that second bank, and we did the very best we could. We treated it like we treated any client’s home. We cleaned it, photographed it, and created a virtual tour. We wrote a great description for MLS and produced a beautiful flyer. We advertised it and held open houses. No one had told us that many REO agents do none of these things, instead relying on a low price to do the job. We sold that house and fortunately got another. Eventually, we got more and more. We have this bank as a client today, thanks to our attitude of Clients First.