DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/1509474
MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 70 REO space is poised for a sharp increase in business. The panelists delved into how agents can prepare for that rush and learn to determine valuations, select preferred listing platforms, and create marketing strategies specific to the commercial mar- ket. Panelists included: » Jim Hastings, Broker/Owner, Hastings Brokerage (moderator) » Gay-Lynn Barnes, COO, LCC Invest- ment Group » Louis Chavez, CEO, LLC Investment Group » Rande Johnsen, Director, Trustee Corpsr The Make the Market Work for You panel was the third of the day, discussing the current lack of REO volume and inven- tory, as well as lingering economic effects and approaches successful businesses can take to overcome these obstacles. The panel provided actionable advice for what agents can do—and are doing—to run successful business models in these challenging economic times. Panelists included: » Laura Dietz, Broker/Auctioneer, Sum- mit Realty (moderator) » Holly Pagano, Owner, First Hawaiian Realty » Rick Sharga, President & CEO, CJ Patrick Company » Charles Weinraub, CEO, Mandalay Holdings Moderator Laura Dietz first touched on the power of social media and solicited comments from Jesse Gonzalez. "Well, I came into the business in 2005, and we were still a retail market at that point in Nashville. And then, of course, the Great Recession in 2007 changed every- thing," Gonzalez said to kick off the panel. "So everything I had learned in school, ev- erything I had learned from my brokers, I kind of had to throw out the door because everything had changed. That's the key when you're a real estate agent, especially in REO: our business fluctuates more so than probably the average realtor who's just doing retail." Rick Sharga commented: "If you want to stay ahead in the distressed/de- fault industry, you need to keep moving upstream." The day's final panel was Soft Skills for Difficult Moments, which explored the "soft skills" critical for navigating an agent's role within the default servic- ing space. When dealing with people experiencing tough times, tempers are to be expected, emotions are reactive, and situations are complicated. Additionally, there are legalities that constrict your clients and vendors and require a more nuanced touch. This is where soft skills come into play; the panel discussed how to polish your interactions with the full array of personalities and circumstances you need in this specific line of work. Panelists included: » Tamika Marks, Managing Broker, Trademarks & Associates, LLC (mod- erator) » Michael Friedman, Managing Partner, Lending Direct Mortgage Bank » Jennifer Kuhn, Owner, JLK Sales Group - eXp Realty » Garrett Mays, VP of Valuation and Vendor Management, USRES » Tamika Moses, CEO & Broker, Robin Bird Realty Following the final panel of the day, FORCE Membership Director Gina Gallutia gave some final closing remarks and invited attendees to attend a private re- ception at Monduel's, the bar at the heart of the atrium of the Dallas Hyatt Regency Hotel, for two hours of one-on-one and group networking. F I V E S T A R M E M B E R S H I P S S P O T L I G H T : T H E L A T E S T N E W S A N D I N S I G H T S