120407TA – Michael Balsitis Interview

 

April 7, 2012 Top Agent Interview with

Michael Balsitis

Running Time: 1:25

Background:

Michael Balsitis is with Bellabay Realty in Caledonia, Michigan.

Last year, he closed 411 transactions with a total sales volume of 22.7 million.  His average sales price was 55 thousand of which 10 % were buyers and 90% were sellers.  He operates a team with 8 members:  1 transaction coordinator, 1 listing coordinator, 1 property manager, 2 runners, 1 marketing specialist, 1 bookkeeper, and 1 team leader.

Michael Balsitis and his wife own and operate Bellabay Realty.  He has been an agent for 17 years.  He works the West Michigan market including Grand Rapids, Kalamazoo, and Muskegon.

Michael started selling homes at 19 years old.  He went to night school and sold homes during the day.  Early on he worked as a buyer agent for a broker who specialized in estate sales.  The buyer investors he represented wanted more inventory to look at and convinced Michael to call banks looking for distressed properties.  It worked.

Michael has specialized in REO sales for 15 years.  He was in the right place at the right time as the REO market exploded with the current recession.  His business has grown as the economic has decline.

Michael shares a career’s worth of knowledge.  He tells us how the industry has developed and changed.  Michael lists conferences, classes, designations, and more.  He describes how he set up his team and which software to use.

Michael has even sold homes for hedge funds and bulk buyers.  He tells us how to find hedge funds, how to help them buy, how to help them sell, and how profitable they are.

2011 Stats:

  • 411 closings
  • 22.7 million sales volume
  • 55 thousand average price
  • 10% buyers and 90% sellers
  • 8 member team:
    • 1 transaction coordinator
    • 1 listing coordinator
    • 1 property manager
    • 2 runners
    • 1 marketing specialist
    • 1 bookkeeper
    • 1 team leader

Niche:

  • REO

Click here to listen to the interview with:      Michael Balsitis