Foreclosure Boom Coming? Legendary REO Broker Compares 2008 & 2024 Markets | Stacy Sutter

Stacy Sutter, president and owner of Summit VA Solutions, sits with Byron Lazine to discuss the benefits of hiring virtual office support through Summit, Sutter’s time in REO, why he started Summit, and his thoughts on the real estate industry, including the rumors of another housing crash or foreclosure crisis and what agents should be focusing on as August 17th approaches.

Summit VA Solutions: https://www.summitvasolutions.com/byr...

Become a member of BAMx: https://bamx.uscreen.io/pages/subscribe
Use discount code BYRON for 10% off your annual subscription!

Subscribe to the BAM YouTube channel: https://tinyurl.com/aatxhaka
Subscribe to BAM Newsletter: https://mailchi.mp/nowbam/the-best-ne...

Connect with Byron Lazine:   / byronlazine  
Connect with Stacy Sutter:   / stacy-sutter-251740191  

Timestamps:

00:00–01:50 Intro
01:50 Wilde Cigars (Burleson, TX) & the story behind a 15+-yr cigar
04:57 Sutter’s backstory (before starting Summit VA Solutions)
11:56 Starting over in Houston
13:18 “My career in RE has been a lot of being in the right place at the right time and…”
16:20 Learning about REO (while working with HUD homes)
18:30 Buying an REO business in 2001
24:37 “I had a gun pulled on me at least twice a year every year I was an REO broker….”
29:54 Getting out of REO in 2017
33:22 “I had two assistants from my REO days…”
36:54 Opening Summit VA Solutions with $6K on April Fools Day (2018)
38:32 “When something works in this industry, brokers, team leaders, they all talk.”
41:20 “The Philippines is one of the most educated countries in the world…”
42:43 “To be very honest, I will fire a client before I allow them to be abusive toward a VA.”
45:42 The biggest disadvantage to being fully virtual
48:00 Brick-and-mortar offices vs. fully virtual in real estate—and reimagining RE office space
50:28 Agents leaving the industry and the rise of large teams
52:18 How do you see the next 10 years going for real estate agents?
55:07 What role are Realtor association leaders going to have in the future?
55:21 The power of MLSs over the associations
59:31 “Are we walking into a market that is about to crash…?”
01:01:14 “In this day and age, not everybody gets to live the American dream…”
01:02:01 “I’ve said this before; I’ve never said it publicly…”
01:09:14 Labor/unemployment and foreclosures
01:10:56 “Should agents be thinking, ‘How do I get into REO accounts?’”
01:20:46 Biggest takeaway for agents

———
BAM PARTNERS
𝐌𝐨𝐬𝐚𝐢𝐤 is everything you need once a lead becomes a client: Collaborative Search. Listing Management. Transaction Management. Forms. Client Retention. Advanced Analytics. Unlock your digital sidekick today. Use code “bam200” for $200 off the one-time implementation fee → https://www.mosaik.io/
𝐑𝐞𝐦𝐢𝐧𝐝𝐞𝐫𝐌𝐞𝐝𝐢𝐚: Tired of spending your hard earned money on marketing you know never makes it past the trash can or spam filter? Imagine getting texts and calls thanking you for your marketing. That’s what we do for you → https://remindermedia.com/bamsample/
𝐕𝐮𝐥𝐜𝐚𝐧𝟕: The most accurate, powerful, and effective real estate seller lead generation resource to build your business. GET STARTED TODAY → https://www.vulcan7.com/bam/
𝐕𝐢𝐫𝐭𝐮𝐝𝐞𝐬𝐤: Hire a Virtual Assistant Today! Use code BAM200 for $250 OFF the signup fee → https://trial.propstreampro.com/bam/
𝐏𝐫𝐨𝐩𝐒𝐭𝐫𝐞𝐚𝐦: The most trusted provider of comprehensive real estate data nationwide. Try it FREE → https://signup.propstream.com/name
𝐒𝐢𝐬𝐮: Increases real estate team & brokerage annual volume by 107% and agent annual volume by 28% → https://sisu.grsm.io/bam-pod-partners
𝐒𝐢𝐞𝐫𝐫𝐚 𝐈𝐧𝐭𝐞𝐫𝐚𝐜𝐭𝐢𝐯𝐞: Solutions That Maximize ROI. SEO powered IDX websites and a predictive CRM driven by marketing automations that help you capture, convert and close. Faster. Let's Chat → https://get.sierrainteractive.com/bam
𝐅𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧𝐬: Maximize tax savings, reduce administrative burdens, and increase take-home pay with a financial management solution specifically for real estate agents: https://get.formationscorp.com/bam
———

#ByronLazine #BAMinterview #virtualassistant