Mortgage Company Lists Over 100 Homes with Steve O And Sells 100%

A large national mortgage company has listed over 100 REOs with Steve Overgard of Re/Max Commonwealth Group over the last 11 years. The results are pretty astounding, 100% hit ratio !

It all started in 1987. Steve O, while prospecting for new business, called on an owner who had his property advertised in the foreclosure section of the newspaper. He figured, "now there’s a person who REALLY needs to sell fast." The owner told him to sell the house but also to contact the mortgage company to see if they would hold off the foreclosure process. The mortgage company agreed to delay the foreclosure if a fast sale could be brought to the table. Luckily, Steve was able to find an investor who made an attractive ALL-CASH offer. The seller was happy, and so was the mortgage company.

After closing, the branch manager contacted Steve to handle the marketing of some REOs that the mortgage company owned. These difficult properties were sold one right after another. The price ranges have gone from $50 to well over $100,000.

"After all these years and all those deals, we still enjoy a vibrant and robust business relationship," remarks Steve. "I’m extremely honored and pleased to be their REALTOR in the Richmond area."