Melissa I just got back to good old Columbus, OH from the DS News 5 Star Conference in Dallas. The conference was 3 days of networking and smaller 1-2 hour educational sessions along with another 2 days of full day educational sessions at an added cost. Melissa and I went to a marketing course and one called REO from A-Z the first 2 days and then spent the rest of the time in various break out sessions.
There must have been at least 1000 people there, probably, more and to put it in plain English, the word on the street is that the market is not good. Surprise, surprise, surprise !!!!!!
We talked to agents from around the US, vendors specializing in software packages to track REO properties (REO Specific defaults), direct lenders, loan servicers and buyers. Generally speaking, the comments were all the same:
High inventory is getting higher
No lenders available to fund
Shortage (believe it or not) of qualified agents
Market is spiraling downward
What Melissa and I learned and had reconfirmed by the experts at this conference was wonderful. The great news was that we are on the right track, but got some great ideas about doing things faster and better. I need to get my head around all of the data and put it to words, but I will over the next few days.
Shoot a call or email if you have a specific question NOW and I will try to answer it.
Rich
Do you have questions about distressed assets, receivership or bankruptcy sales, auctions? Email me at rfk@gryphonusa.com and I'll try to answer it in an upcoming post.
Richard F. Kruse is the President of Columbus, Ohio based Gryphon USA, Ltd. (www.gryphonusa.com). The Gryphon Organization includes Gryphon Asset Management providing receivership and consulting services in the distressed marketplace, United Country Gryphon Realty & Auction Group (www.ucohiorealty.com & www.ucohioauctions.com) providing real estate brokerage and auction services throughout Ohio and OnlineAuctionUSA.com (www.onlineauctionusa.com) providing commercial asset liquidations from the Midwest to East Coast.
United Country Gryphon Realty & Auction Career Opportunities Available. Call 614-885-0020 x 17
Rich, I guess this is the best time to be an REO agent if things are the way they are. I will come back for an update.