3/6/2020 Agenda Greetings Welcome New Members to USREOP - PowerPoint PPT Presentation

3/6/2020

Agenda  Greetings – Welcome New Members to USREOP  Conference Calendar – Upcoming Conferences/Events  Economic Outlook – Where are we & what’s coming?  Monthly Topic – Selling REO In an Infected World

Greetings  Welcome to the Call  New members:  Elaine Corbin (PA)  Jennifer Kuhn (NJ)  If you know someone that you feel would benefit from being associated with this AWESOME GROUP  Refer them to Mary and Angela

Conference Calendar  Best Source: https://www.usreop.com/events/list/  Green River Capital Symposium (SLC) 3/11 – 3/13/20  US REO Partners Luncheon (SLC) 3/11/20  California MBA Legislative Day (Sacto, CA) 3/23/20  The Five Star Government Forumn (D.C.) 4/1/20  AMDC Diversity Symposium (NOLA) 5/6 – 5/7/2020  NRBA 19th Annual Education Conference (LV) 6/3 – 6/6/20  REOMAC @Gaylord Rockies, Denver 7/18-7/20/20  USREOP Client Appreciation & Charity Event (Dallas) 9/13/20

Economic Outlook  Inventory down  33% across our state  Current Actives at 7,791  Lowest point in 15 years  Only the 8 th time below 10,000 and we’re below 8,000!  Rates at historic lows  Market is heating up!  Buyers are coming out of the woodwork!

Monthly Training

Monthly Training  The Goal of Today’s Training…  To Make Us All More Educated on Covid-19  To Help Us Serve Clients in a Time of Uneasiness  Let’s Talk About  Influenza  SARS  MERS  COVID-19

Monthly Training  Previous Outbreaks  SARS (Severe Acute Respiratory Syndrome) (2002)  MERS (Middle eastern Respiratory Syndrome) (2012)  Both are actually types of Corona Viruses  Now, CoVid- 19…

Monthly Training  Which Countries have been effected?

Covid-19 vs Influenza Symptoms  Both cause fever, cough, body aches, fatigue; sometimes vomiting and diarrhea.  Can be mild or severe, even fatal in rare cases.  Can result in pneumonia. Source: John Hopkins Medicine, Lisa Lockerd Maragakis, M.D., M.P.H. – 3/5/2020

Covid-19 vs Influenza Transmission  Both can be spread from person to person through droplets in the air from an infected person coughing, sneezing or talking.  A possible difference: COVID-19 might possibly be spread through the airborne route.  Flu can be spread by an infected person for several days before their symptoms appear, and COVID-19 is believed to be spread in the same manner, but we don’t yet know for sure.

Covid-19 vs Influenza Treatment  Neither virus is treatable with antibiotics, which only work on bacterial infections.  Both may be treated by addressing symptoms, such as reducing fever. Severe cases may require hospitalization and support such as mechanical ventilation.

Covid-19 vs Influenza Cause  COVID-19 : Caused by one virus, the novel 2019 coronavirus, now called severe acute respiratory syndrome coronavirus 2, or SARS-CoV-2.  Flu : Caused by any of several different types and strains of influenza viruses.

Covid-19 vs Influenza Prevention  Both may be prevented by frequent, thorough hand washing, coughing into the crook of your elbow, staying home when sick and limiting contact with people who are infected.

Covid-19 vs Influenza Deaths  COVID-19 : Approximately 3,347 deaths reported worldwide; 11 deaths in the U.S., as of Mar. 5, 2020.  Flu : 291,000 to 646,000 deaths worldwide; 12,000 to 61,000 deaths in the U.S. per year.  The COVID-19 situation is changing rapidly. Since this disease is caused by a new virus, people do not have immunity to it, and a vaccine may be many months away. Doctors and scientists are working on estimating the mortality rate of COVID-19, but at present, it is thought to be higher than that of most strains of the flu.

SARS vs MERS vs Covid-19

The Impact on the Market  The Stock Market  Schools Are Closing All Over WA  The Business Community Reaction  Microsoft Closed  Facebook Closed  Amazon Considering Closing  Many companies have said “If your job can be done from home, stay home”

The Impact On Real Estate  Just in my office, we have:  Had Sellers Take Their Homes Off The Market  Had Buyers Leave and Return to China Because “it’s safer”  Had Brokers ask “Should we tell our clients to wait to buy, because it will be cheaper?”  NO!

So, What Do We Do?  Follow a few basic rules:  Rule #1 – You can’t decide for someone, how anxious they feel about the Virus Situation.  Rule #2 – If they are anxious – let them know that they are not alone, and that they could probably sit on the sidelines for a bit, as many other people are as well.  Rule #3 – If they are NOT anxious – there are deals to be had!

So, What Do We Do?  If they are a Buyer or a Seller, they will have less competition.  If they are financing, they have better rates than everyone else at this time.  And, guess what?  When things settle down, the rates will go up!  So, give the same GREAT advice you always give, but gauge their anxiety level first.

So, Now You Know What To Do  Questions?

Closing  Does anyone have a struggle that they want this POWERFUL Group’s ideas on?

Ed’s Contact Details  E: ed.laine@hometownadvisorre.com  P: (206) 229-5515  A: 2331 130 th Ave NE, Ste. 100, Bellevue, WA 98005  Service Area: King, Pierce, Snohomish Counties (and beyond for some clients…)  For Training Videos:  https://www.youtube.com/user/MrEdlaine1967/  For Blog:  https://www.realestateanswers.guru/