Yesterday, I posted about working with partners and how much of a hassle or a good thing it can be. When you are trying to acquire Real Estate Owned property for clients, there’s either good or bad, and no in between. Working with banks is almost an art, and there’s some people who are a bit intimidated by working with board members in banks, therefore they get a bit squeamish to do so.
I have a couple great partners that I work with all the time on REO property. One is Brad Sawatzky, owner and broker for Colorado Real Estate Pros in Fort Collins. Brad works all over the state of Colorado, and if you look at his realtor website, you can tell that he does quite a lot of business. The thing that has impressed me about Brad since the moment I met him was that he was so comfortable talking to executives in banks and negotiating prices with them. One thing about negotiations is that they have the ability to get very tense, but not with Brad. He truly leans on his people skills, and sees the factual side of every deal instead of getting upset when bank execs are trying to play hardball with him.
I did two deals with Brad last year on REO properties, and he didn’t flinch when I asked him to do another one just a couple months ago. The best part is that he always answers his phone, or gets back to you very quickly, so I don’t have to worry about waiting on an answer too long. With the delicate and sometimes very fluid nature of REO negotiations, this is very important.
Another partner that I have been working with for some time is The Group, Inc. up in Loveland. I have worked with a number of agents there, and because I have had a few Denver clients look for property up in the Loveland/Windsor area, The Group has been very helpful. You can check out the Group’s website here, and they are very good with assisting on REO property.
I first ran into the Group through their founders training class, called Ninja selling. Ninja Selling was started by Larry Kendall, who founded The Group in Fort Collins back in 1976. Larry and his Ninja Selling team have developed such a robust selling training program that sales gurus who work in industry’s outside of Real Estate often times want to take the class to help impact their own business.
Larry and his team of trainers help their students employ a sphere of influence approach to acquiring business. This basically means that real estate agents should try to develop their existing relationships and remind them that they are in Real Estate so when they come across someone looking for a home, they will reach out to them and offer up a referral.
This worked greatly for me, and helped me build a very robust pipeline in my business, so every time I can work with any broker within The Group, I know they will be very easy to work with. I’ve met most of them because I travel up to Fort Collins quite often to do business.
I hope that you have good partners like I do. It will help you in the REO market for years to come!
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