Asset Management & Recovery: Huh? Not Fired? Huh?

Gryphon USA, Ltd services clients through Gryphon Asset Management, Gryphon Realty Advisors and Gryphon Auction Group. Gryphon Asset Management manages operating entities and undertakes liquidation management in numerous business lines. Gryphon Realty Advisors is comprised of three divisions all working together; Residential, Commercial and Management. Projects range from single family investments and owner occupant reresentation to apartments and commercial complex disposition. Gryphon Auction Group assists clients with the sale of real property as well as commercial equipment.

Huh? Not Fired? Huh?

I have one client that others think is difficult.  Maybe we are good for each other.  I am difficult too.

If you haven't been paying attention, the market is down in Columbus OH.  It is a buyers market, especially for investment property.

Anyway, I went to a meeting today where I thought my bank client was going to can me.  This would have been a loss of 38 listings.  Ooops !!

We discussed my capacity.  We discussed marketing options.  We discussed general brokerage vs. auction (online only specifically).  We discussed the board meeting they had last night.  Ooops !!

I need to say that I love my difficult client.  The board wanted to hire 3 other brokerages to split the work.  He said no, no way, not going to happen.  In his opinion, 1 point of contact is the way to do it.  I guess it helps that my office is only a mile away.

Now I am here to get fired, or so I thought.  Instead, I am told that there are up to 118 REO listings coming up.  What ???

Here is the point, because this can't all be about my ego....

Fair pricing, honesty, hard work.  That's what the client says anyway.  Hmmm......  What happened to good looks and B.S.?

Maybe the Grumpy Hat and Shrimp Sticker were good luck.

 

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

13 comments • Rich Kruse • April 25 2007 09:04PM

Comments

So why did you think they were going to can you? 
Posted by Leigh Brown Charlotte NC Broker/Owner (RE/MAX Executive Realty) almost 5 years ago
Well the hat and sticker might have been a factor, but I really think it's because, you are good at what you do, you are honest with our clients, you keep them updated on the good, bad and ugly, and of course, the fact that you are incredibly good looking helps to. (Sorry Broker Bryant, you have competition for the good looking award, at least in Ohio).
Posted by Melissa Kruse (Gryphon ) almost 5 years ago

Property is selling very slow.  Called client and told them that I had docs to drop off.  They asked for a meeting and I told them that I wasn't really dressed for clients as I had been out in the "field".  I was told that my appearance was not an issue and that it would be great if I could make time.  Usually this is not good.

Posted by Rich Kruse (Gryphon USA, Ltd.) almost 5 years ago
Rich, 

you know what ? depend on people that you are working with, some of them like honesty and some of them they like liars, hm... I work with honesty, but some people do not appreciate honesty, when they see a liar that is telling them what they want to hear, they love that, because they think that it is true, that happens specially in mortgages, not really in real estate, but I was just telling you something that I thought :)   good luck :)
Posted by Aurora, CO Homes for Sale in Aurora, Colorado - Ray Saenz (United Property Brokers, Inc) almost 5 years ago

I have found those same people Aurora are talking about.  They are happy to be fed a line of baloney, what they want to hear and not the truth.  It's disappointing, because that is why they hired a professional, but all we can do is put the info out there. 

Rich, you are the man!

Fran

Posted by Fran Gatti - Realtor®, CDPE®, RDCPro®, Crescent City CA Real Estate (RE/MAX Coastal Redwoods) almost 5 years ago
Congrats on getting a step up to the plate and then hitting it out of the park. WTG.
Posted by Todd Clark (Broker) (503)524-9494 (Beaverton, Oregon Real Estate Expert) (Knipe Realty) almost 5 years ago
Kind of like the client who changed my commission uh - good things do happen to us when we work hard and are honest.  Way to go...
Posted by Thesa Chambers, Principal Broker Licensed in Oregon, with (Prudential NW Properties Sunriver) almost 5 years ago

Ya, I know what you mean.  I once had a seller, who had a junky house, which I listed at a high price ($475,000).  Although it was a genuine miracle, a buyer made an offer on it, and it went into escrow (and the buyer was ready to close).  The sale was subject to the seller finding a replacement property, and he wanted two units.  My agent showed this guy around 50 properties, but nothing seemed to fit.  Even though he was selling his home, for around $40k more than what it would have sold for by the end of the transaction, he cancelled the deal.  It was the greatest waste of time that I've ever experienced.  Today, the seller would be lucky to get $350,000 for his home.

Posted by Alix Pinzon (Sunrise Acceptance Corp.) about 4 years ago

Rich,


I'm gonna continue to pick your brain-- DAMN-- Getting 100+ listings for one meeting in jeans???

 

I so want you to be my mentor!!! :)  I'm happy for you dude-- How many extra people did you hire to help you?

Posted by Jason Bhattacharya (RE/MAX Success) about 4 years ago
Jason - I am a worse mentor than I am a cowboy and I'm not a cowboy.  I only have 2 others working with me right now.
Posted by Rich Kruse (Gryphon USA, Ltd.) about 4 years ago

Good Lord!  Only two people for an upcoming 100+ listings????  Wow... 

Yeah, I've gotta learn from you.  I read your post "You're Fired!" --  And I was wishing that I was in your area. 

However, through your advice as well as other people here on AR--  I will continue to build my REO business.. I'm just having too much fun!!!

 

-Jason

Posted by Jason Bhattacharya (RE/MAX Success) about 4 years ago

Rich:

Only 100 properties from a lender in this market?

Let me know if you need any 'consulting' help with the online auction portion.

 

Posted by Billy Burke, CAI - AARE (The Auctionarium, Inc) about 4 years ago

Thanks Jason.

Billy - That's only one small community bank.  I have been working on an online program.  My next offering is sealed bid.

Posted by Rich Kruse (Gryphon USA, Ltd.) about 4 years ago

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