Ten Things That REO Asset Managers Hate! 1. Late Occupancy Checks.
I will just mention one thing AM’s hate today and give the other nine in upcoming blogs.
AM’s hate late occupancy checks. Normally the first thing an AM will assign to an agent is an occupancy check. That is, the agent goes out to the new assignment (listing) and checks to see what the status of the occupancy is (i. e. vacant or occupied). Oftentimes, an agent will merely drive by to see if there is any activity at the subject property. Activity would include cars in the driveway, newspaper on front porch, even a check to see if the electric is still on by looking at the outside meter.
However, the best practice here, is just to bite the bullet as an REO agent and go knock on the door. If no one answers, leave a note on the door with your contact information. Different companies have different occupancy check protocols, but the point is, JUST DO YOUR JOB REO AGENT! Get out of the car and find out if the property is vacant or not.
Also, please get it done on time or better yet early. If an AM says they need the OC back in 24 hours, that does not mean 3 days. My companies will normally cut all tasks in half, meaning if the AM says 24 hours we strive for 12. That does not mean we will get it done in 12 hours, but it does mean we will most always have it done early or on time. My AM’s love me for that!
Luxus luxury real estate is a local real estate company which specializes in REO investment properties and luxury residential real estate. Services include selling or buying both REO investment properties and luxury real estate. Luxus Luxury Real Estate is a locally owned boutique REO investment properties and luxury real estate company dedicated exclusively to serving the needs of investment and luxury home clients on the Gulf Coast! Luxus Luxury Real Estate is led by Jerry Gerritsen, who has been in real estate since 1996.
Born in Whittier, California, Jerry took over the family business construction company at a young age and successfully ran it for years before relocating to the Gulf Coast. During that same period, he sold real estate in the Los Angeles market by day and went to law school at night, graduating with Moot Court honors (JD).
He now resides in the Gulf Coast area where he specializes in the luxury residential real estate market. After graduating from the University of Alabama with a Master’s degree in business administration (MBA), he launched a successful local boutique luxury real estate company to offer his expertise and unique skills to the local Gulf Coast community.
On a personal level, Jerry enjoys travel, the symphony, tennis, soccer, Church related activities and family events.
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