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Real Estate Experts Serving San Diego
"Foreclosure Experts, Investment Properties & RE Development"
- 163 Helpful Answers
- 487 Answers
- 35 Blog posts
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Dedication to Service in Real Estate for Shea Real Estate
January 2004—present
The team members of Shea Real Estate & Investment Group are San Diego Real Estate Experts…
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The team members of Shea Real Estate & Investment Group are San Diego Real Estate Experts…
Specialties:
Residential Sales, REO Properties (both listings & buyers), Investment Properties, Development Opportunities, Land Valuation & Acquisition, Rehab or Remodel
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Certifications
& Awards:
& Awards:
GRI
Interests:
Our interests include family time, friend time, home improvement projects, sports
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About:
We believe that you want to know and understand the people who are involved in taking care of your business, as much as you want to understand what that
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Testimonials:
"Client endorsements are available at www.Shea-RealEstate.com , below are some samples"
Mark & Kari Tue Mar 10 ... show more
Mark & Kari Tue Mar 10 ... show more
Real Estate Experts Serving San Diego answered:
Hello,
We are REO listing agents and yes, we are graded by the lenders.
The first set of grades happen before the property is ever listed. The agent has to determine if the property is vacant and negotiate with the owner/tenant to vacate if it is occupied. If it is vacant, there are a series of tasks for the agent to perform to get it ready to list.
Secondly, REO agents are scored on their ability to assess the physical condition of the property, make recommendations for repair, the speed at which repair bids are submitted and the time frame for the work to be performed.
Thirdly, there are a wide variety of reports due to the lender, some monthly, some weekly and some as requested. REO agents are graded on the speed of the turn around, the quality of the information and the completeness of the information.
The agent must then submit their Price Opinion for the property and give supportive evidence for the price being recommended. All priced are subject to property condition. In other words, if the home is in very poor, good or excellent condition. Most REO properties are selling at 100% of list because they are listed at the current market value.
Once the property is listed, offers must be submitted within the bank's required time frame and then negotiated with the buyer's agents. The bank also relies on the agent as to which offer is the most likely to close. The agent is also graded on the peoperty closing on time.
There are many elements involved and many think this is "easy money". We assure you it is not.
Best regards,
Mark and Kari Shea
Real Estate Experts Serving San Diego County
Specialists in Investment Properties, Foreclosures, Short Sales,
Development Opportunities & Traditional Real Estate
We are REO listing agents and yes, we are graded by the lenders.
The first set of grades happen before the property is ever listed. The agent has to determine if the property is vacant and negotiate with the owner/tenant to vacate if it is occupied. If it is vacant, there are a series of tasks for the agent to perform to get it ready to list.
Secondly, REO agents are scored on their ability to assess the physical condition of the property, make recommendations for repair, the speed at which repair bids are submitted and the time frame for the work to be performed.
Thirdly, there are a wide variety of reports due to the lender, some monthly, some weekly and some as requested. REO agents are graded on the speed of the turn around, the quality of the information and the completeness of the information.
The agent must then submit their Price Opinion for the property and give supportive evidence for the price being recommended. All priced are subject to property condition. In other words, if the home is in very poor, good or excellent condition. Most REO properties are selling at 100% of list because they are listed at the current market value.
Once the property is listed, offers must be submitted within the bank's required time frame and then negotiated with the buyer's agents. The bank also relies on the agent as to which offer is the most likely to close. The agent is also graded on the peoperty closing on time.
There are many elements involved and many think this is "easy money". We assure you it is not.
Best regards,
Mark and Kari Shea
Real Estate Experts Serving San Diego County
Specialists in Investment Properties, Foreclosures, Short Sales,
Development Opportunities & Traditional Real Estate
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