Over the last few weeks, I have spoken to a number of top producers who have decided they’re simply not getting paid enough to put up with the hassles of either listing or selling a short-sale property. Their new mantra: no more distressed property sales for my business!
The same goes for writing broker price opinions (BPOs) for lenders who have foreclosure inventory. Getting paid $50 to drive out to the property, take measurements, and do all the work to determine the sale price is simply not a good return on their time. In fact, it barely covers their mileage expenses.
Given that distressed properties are still a major portion of the market, where can an agent specialize and still make money without having to wait months on a deal that may not ever close? If you’re fed up with the distressed-property game, here are five alternatives that can keep your business strong without having to ever utter the words "short sale, REO (bank-owned property) or foreclosure."