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(EMAILWIRE.COM, November 23, 2011 ) Harrisburg, PA – According to Frank Patrick of the American Society of REO Specialists, there has never been a worse time to be a real estate agent. Although he believes that there are certainly exceptions to this rule, many experts would agree that market conditions have never been quite like this.
In a recent webinar along with Josh Schoenly of Retechulous, LLC, Patrick stated, “Real estate agents on average have suffered a 65% decline in income over the past four years. Additionally, overall existing home sales continue to trend downwards as buyer activity is at an all time low, and prices are only predicted to progressively decline. In fact, there is currently a 12.5 month supply of existing homes where 7.5 is typically considered normal.”
On the other hand, Patrick also believes that those agents who learn to adapt to these market conditions can end up being very successful, especially when focusing on REO based properties. With plenty of great opportunities on the horizon, 2012 could be a very prosperous year for many.
Patrick continues, “At this time, there are 2.5 million foreclosures being processed with mortgages that are 90+ days delinquent. In the last 12 months alone, lenders were forced to take back approximately 1.1 million homes, as 23% of all homeowners are unable to stay current. Naturally, many of these properties will soon become REO listings.”
Since inventory is continually on the rise, this proposes an excellent opportunity for those agents who have not focused on REO properties in the past. In fact, REO sellers are now choosing to limit the amount of listings that agents can undertake, because current REO professionals will not be able to handle all of the volume.
Therefore, discover how an agent can begin to partake in this real estate goldmine for their business. Access this comprehensive training and coaching session right now at Real Estate Marketing.
About Retechulous, LLC:
Retechulous, LLC is focused on training agents, brokers, and other real estate professionals throughout the U.S. and Canada on how to effectively market their businesses online for maximum profits. The company is managed from two “secret headquarters” deep within undisclosed locations of Central PA. For more information visit realestatemarketing411.com.
Retechulous, LLC of Pennsylvania
Jeff Logue
(800) - 458 - 5390 jeff@retechulous.com
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(EMAILWIRE.COM, November 23, 2011 ) Harrisburg, PA – According to Frank Patrick of the American Society of REO Specialists, there has never been a worse time to be a real estate agent. Although he believes that there are certainly exceptions to this rule, many experts would agree that market conditions have never been quite like this.