I loved this story. I was about to say something about the bankers being the dumbest guys in the room – and then saw they changed course. They go do something that makes sense! Wow.

But trust me…it was a doozy on another RE blog that I guess shall remain nameless.

(hey Benn..how’s that for playing nice?)

Anyway in response to your inquiry, if we get people who rspond outside of our business model, we still get paid. The agents sign referrals with agents who are willing to work with them.

We screen to make sure we know their situation, then forward their information to our legal team who does an interview to see if they can be of assistance, then we confer by quick phone call and it is more than likely decided to refer out…BUT>>>>and this is BIG>>> we keep them in our database and we have by agreement that if the referring agent fails …we get notice. Many of those we initally turn down end up being clients we eventually take on. Most people can’t be saved. For every one who can be saved I would say there are 10 who can’t.

So we let the other agent who wants to play (as we call social worker) deal with them for what maybe months on end, and when they meet the cold air of reality we’re right where we want to be. Working with someone with no options that we can then do with as we do.

It means the referring agent wasted their time…but hey if they can save the home great. If they can do a loan mod, great. If the bank reduces their principal, great…but in the likely event that none of the above occurs, they know how to contact us.

By the way, when I talk about things being beyond the scope of Realtors I mean that not offensively but truthfully.

If the shoe does not fit then no offense need be taken. I was a football player. When people speak of dumb jocks, I don’t get offended, I know there are some really dumb football players out there.

Doesn’t bother me because I wasn’t one of them. No skin off my back.

Deborah, you are asking questions to learn. Here on AG there must be what…50 contributors…hardly a dumb group by any stretch of the imagination.

AG has what a couple of thousand readers per day…more agents trying to better themselves, hardly dumb or not getting it.

Now collectively add those groups up and all of the others working it in the Re.net and what do you have…5,000…10,000 agents out there who are trying to be professional.

Now take the sheer number of 1 week trained agents out there and the overwhelming percentage..OVERWHELMING percentage have no clue as to even understanding the discussion we are having here.

It is those sub-par performers that screw it up for the rest. Unfortunately I can’t do business with the likes of Mariana, Russell, Jay and the rest. I don’t find those types too often.

Neither does the general public. I think some should wrry less about what I say…I’m just needling people like Russel and Jay and they know it…instead worry about the absolute morons out there in the field just screwing it up on a day by day basis.

As formy seemingly tactless and abrasive commentary…there’s only so much confectionary sugar “great post” comments one can stomach.

Look how many comments are on this article. In a few months it will probably be a PR3 on its own…why, because it’s engaging and informative…and even a bit inflammatory.

all you can ask from a blog post..not anything like this drivel:

I am not trying to argue with you, nor am I trying to offend. I understand your biz model. We, too, have a biz model. We, too, sometimes have clients who contact us who are outside of the biz model that we service. We have a policy of how we handle those clients. I was not asking you questions because I was unable to understand your biz model, but rather I inquired how you respond to inquiries from those who are not your target clients; those who may have alternatives. Where do you point them? Or do you? Or do you service them with your biz model? That is not an argument, it’s an inquiry. I don’t even have an opinion about the response. If you feel like responding to my curiosity, please do. If you rather not, certainly that is your choice, and you owe me, nor anyone else any explanation.

I do appreciate courtesy, and respectfully call your attention to the fact that comments about not getting it, or things being beyond the scope of Realtors, and the great Russell Shaw could easily be taken offensively.

I will write a “reverse script” to the one Barry uses. His is based on a simple algorithm that takes the words in your comments or post and uses a variation of “I’m rubber and you’re glue and everything you say bounces off of me and sticks on you”. Naturally, his script usually precedes the rubber-glue part with how he is right and you are wrong.

We already have a working version, I just need to get it to the point it can handle and originate multiple variations in case a lot of you choose to use it in the same thread.

To answer your question you may want to scroll up..you clearly do not understand that which we do. Maybe if you remove your sarcasm and read the entire commentary you would see the difference. If you are STILL not clear let me spell it out again.

1. We only market to and work with late stage of foreclosure deals.

2. we only market to and take on those deals where the client has little if any, viable options remaining..as such neither of the cases you mentioned above would we either be marketing to or be interested in working with.

You are not getting it…

When we market and advertise to these late stage people, are phones and emails are overrun because most agents CAN’T help these people..so here is what we do…

1. We market through a variety of means to have the distressed homeowners, their agents or our agents contact us

2. On an ongoing basis in a variety of methods we market for buyers looking for distressed properties

3. When we find a deal we are interested in and meets our criteria we either:

a. have on of our agents take a listing; or

b. submit an offer via a number of different methods

4. We have our legal team (that we pay for on behalf of the homeowner) go in and beat up on the bank utilizing a number of different methods to delay the sale as may be needed

5. We begin marketing said property to the buyers in the pipeline via our agents or other network as relative to the transaction

6. We have our staff begin the short sale process once we have secured the property either via listing or by contract

7. Title company expedited the marketability of title

8. We get the short sale approved (working with these late stage deals allows us to speak to a different level of negotiator who WANTS us in the deal and we get approvals in less than 14 days in most instances.

8. We bring in transactional funding if needed to fund if the buyer can’t close in time

9. We close the transaction and get paid..albeit handsomely.

Deborah, what we do is usually beyond the scope of most realtors. Most realtors are worrying about gas money showing buyers around. As you see we have no problem spending money on a deal becasue we know that the deals we choose to get involved in WILL close.

We don’t have any doubt. We know the Seller is definitely out of options or they would not be calling us. We know the banks don’t want to eat these loans. We know the expected Loss Severity on these NPA’s. We know what our buyers are looking for.

When we do a deal, EVERYONE makes out better. The Seller, the bank, the agents involved and of course us.

Before you knock it ask yourself this question.

If you knew that there was a certain segment of the market who ABSOLUTELY needed your services and that you would be paid handsomely providing that service to them in just about 100% of the time, would you focus on that segment of the market?

Of course you would. We have a very strict criteria. We stick to it and apply a system that is proven and EXTREMELY profitable. While many realtors are working 2nd shift at Walmart, it is easy to see people we train make 20k-50K per month…easily..on like 4-5 deals. That’s without even working hard.

Since I know this..why would I waste my time on the 2 scenarios that you have outlined. I simply would pass and let somebody else deal with the “wondering” if they are going to get paid or not.

I like dealing in certainties or as close to certainties as possible.