Brokers working in the REO space face stiff competition, but social media — when used correctly — is leveling the playing field, making it easier for tech-savvy professionals to gain a foothold in the space.
Social media, conferences and networking all play a role in a professional's success.
Experts at HousingWire's Real Estate Expo (REX) discussed how growing your REO business starts with you.
The panel featured Windy Keefe, manager of business development with REO Network; Brent Taggart, senior vice president with Green River Capital; Kirby Pearson with Pearson Realty Group; Lauretta Martin with The Martin Group and TMG Properties; Marcia Toms with PEMCO; and Patti Donovan with Freddie Mac.
When it comes to standing out as a broker, Taggart said a simple letter of recommendation makes a world of difference, especially when it's exposed online or through simple social media tools.
In addition, he said people should be active and involved in boards, including the National Association or Realtors, rather than simply limiting their involvement to paying membership dues.
Meanwhile, Donovan said, "A strong thing for us is people who are making a difference in peoples lives that live in the communities that they work in."
But, perhaps, the greatest change in real estate networking revolves around the social media space.
"Social media is a good way to connect and help build that relationship. It should be an extension of a way to stay in contact," said Toms.