REO Overview

Hello Everyone!

Realty Corporation of America has been doing "short sales" and bank REO work for over a decade. While the big companies laughed at our initiative and were excited to keep getting overpriced listings and fight a "brand image" war, we were able to build our business with our bank owned listings. The top earners at our Company have always been members of our short sale and bank listing team! This e mail is being sent to newer team members who have asked about jumping into this sector of our Company. We've been successful in this business segment thanks to the amazing hard work of Mike Mulloy, Brian Jordan, Richard Zecchini, Mike Sanderson, Andy Morris, Harry King and Abby in our corporate office. Other factors critical to our success include these:

(1) It's easier to sell the cheapest house on the street -- even if it needs work!

(2) We earned lots of small checks instead of waiting for one big deal to close to make money

(3) Banks lower prices until the house sells -- unlike "retail" sellers that might just rent the house or take the home off the market

(4) Many bank owned homes are purchased with cash or hard money -- so we often avoid the "Mortgage Drama" and delayed closings!

(5) Our low overhead structure and high commission split means that our team can still make good money even when the commission check isn't as large as we'd like!

AND NOW our auction business (www.realtycorpauctions.com) gives us the ability to offer this service to banks as well as our more traditional listing programs. The auction business has become a huge competitive advantage -- it generates buyer leads, builds awareness of the Company and gives us a service that few others offer!

Given the huge growth in this segment (20,000 foreclosures in Cuyahoga County this year and 1.3 million bank owned homes expected to sell next year -- almost 1/3 of the market), consider spending time with us as we discuss adding to our "BPO" team. BPOs, or Broker Price Opinions, are our reports to our asset manager clients -- most of these banks pay us for this work! If you'd like to make steady money or want to learn more about how this service can make you money, please join us next Tuesday while Mike Mulloy and I provide everyone with a market overview and details on how to make money with bank owned listings.

This meeting is COMPLETELY OPTIONAL and is set for 2 PM on Tuesday November 18th on the 16th Floor of the Beautiful Superior Building in our conference room! Hope you can stop by!

Thank you very much for being a part of the Company and helping us compete and succeed in challenging times. I'm deeply appreciative of your help!
Tony