Real Estate Articles » Real Estate Agents

5 Ways To Impress Your Asset Manager

By: Thomas Moore
Submitted: 01:38PM on Saturday 16 August 2008

5 ways to impress the Asset Manager/Bank

1. Turnaround Time Complete your BPO orders as fast as possible.

Your first 10 -15 orders should be problem free and done as quickly as possible. You are often given 24- 36 hrs to complete an exterior bpo order. You should try to return the order within the first 24 hrs if at all possible. If there are any problems at all that would stop you from completing the order, then immediately contact your asset manager and let them know the problem. (Examples. No tax record for the order, not able to locate the property for pics, etc.) The faster you complete these orders –the better your agent rating will be.

2. Quality of work

Actually do your best to give the best valuation possible and really take a moment to study the comparables. Write detailed notes about each of the comps used and really look take passion in your completed work. It is frowned upon when the Asset Manager has to keep returning your work due to poor quality. Now I don’t suggest getting so involved with valuation that you only waste valuable time. Be efficient and pay close attention to the notes fields. This is where your bpo’s will stand out against the others agents and in turn get your more orders…. Sometimes A LOT more orders.

3. Take one for the team whenever possible (out of range property)

Every once in a while you will get a request for an order that is too far and out of your normal distance range. I suggest taking some of these orders because you are truly helping the A.M’s out in these situations and they won’t forget you for it. After you have established yourself, you are then able to turn these orders down without affecting your agent rating with most all companies. You may have to drive a little further to get those pictures but you may have just opened the door into a very large account that could land you a ton of personal orders per month.

4. Being honest with what you can handle and you can't.

If you are currently overworked, or you know that you’re going away for the entire weekend ,,, then simply turn down the order(s) and thank them for the offer. Better safe than sorry here trust me. It will be real tempting sometimes to take orders when it’s actually better to turn the order(s) down up. This is sometimes hard to gauge at first but you will get used to it quickly. Don’t overwhelm yourself and mess up a bunch of orders because you tried to take on too many at once. You will find out how many orders you can do per day, per week, per month, etc. You will have only one chance with all these companies to make a good first impression and you need to make it a solid one.

5. Follow up! Especially on problematic Interior orders.

If your communication is timely and consistent, One of the biggest complaints from asset managers is the lack of communication from the agent to the actual asset manager. This is mostly concerning interior bpo orders. Sometime these type of orders are more difficult to complete because you must gain interior access and take a dozen pictures or so. Not a problem if the property is vacant and has lockbox. You will have orders that inhabit tenants or homeowners that are difficult to work with. Eventually you will be able to make your way into these properties but sometimes this can take a week or two. The more frequently you update your AM, the better that you look and are considered a pleasure to deal with. I suggest updating them every day until the order is completed. Most asset managers have great portals that allow you to update them quickly and easily over the web.

These are just a few things that can really impress the Banks and Asset Managers. These seem real easy to follow but a lot of agents fail to do these items. If you follow this and keep attacking your asset manager contact list by signing up on as many sites as possible, then you will be very busy in no time. Keep up the great work and please reply back with questions or anything else you consider relevant. I will be adding more tips soon!

At 06:32PM on December 15, 2008 - John Gee said...

great advice

At 11:56PM on November 08, 2009 - Elaine Edwards said...

I agree with this article, Ive seen REO agents not answer phones, neglect to submit offers because they are overloaded with to many properties. Its a shame better to only take what you can handle, be professional, dependable and attentive -. I believe what you say the squeeky wheel gets the grease.... great article thank you