Month: August 2011

Expired Agent: Chris Cassidy

• Started using REDX March 2009 – 1 MLS, 2 FSBO areas
• Made more than $17,000 in gross commission first 12 months just from REDX expired and FSBO leads  ROI: 1800% return
• Year-to-date closed 5 REDX expired transactions
• About 30-40% of listings are REDX expireds and FSBOs at any given time
• He is tracking to make at least $100,000 this year with $50,000 of that from REDX expireds and FSBOs

At REDX we love to hear from our clients about their success in the field. This week RE/MAX featured Chris Cassidy’s tips on working expired listings. Cassidy is going on 11 years at RE/MAX and 16 years as a Realtor. His story is one of riding the wave of prosperity in the ‘90s and early 2000s to real hard knocks. In 2009, he hit rock bottom and his wife, Jennifer, gave him an ultimatum to either start making money as an agent or get out of real estate.
“I had a lot of good and great years as an agent – everyone did because it was so easy,” Cassidy said. “But when the market turned south the things that worked before stopped working.” (more…)

By Cole Oberndorfer
Prospecting Pre-Foreclosures
Pre-foreclosures, or short sales, are dominating the real estate market today. Almost every agent in the field today has had some kind of contact or experience with a pre-foreclosure lead of some sort; whether it be to pass it off to another agent specializing in that area, or to attempt the short sell themselves. Pre-foreclosures look to be a large source of income for the foreseeable future, so it is in the best interest of every agent to take advantage of the opportunities presented in the area of pre-foreclosure. The real challenge with any new endeavor is learning, and knowing how to do the work in that area. Great sources of information are always available to be tapped, brokers, fellow agents, internet sources. The attempt here is to give you basic information on prospecting pre-foreclosure leads to break the ground in this new area of work. But as always, the real test comes in going out and doing the work, and diving in to the deep end, as it were, to face that new challenge.
Why Pre-foreclosures?
The onus of calling on leads of the pre-foreclosure category falls squarely on this question. (more…)