One of the main draws to my blog includes my free BPO list I make available to all agents. What goes into a good BPO list? How do you know which are the good and bad companies?

Constant Work-in-Progress

Since I compiled my list back in 2009, there have been many changes in the BPO/REO industry. Some companies are out of business, some companies have gotten better, some worse, and some new ones have come along.

Most of the time, I rely on you, the agents, to help keep my list current and up-to-date. The last update I did was a few months ago and I’m sure it already needs updating! So if you have received my list and you find that I need to update it, please let me know. I do take pride in providing this list free of charge.

How I compiled my list

Almost all of the companies and links on my BPO company list were compiled through internet searches. I feel like I have a knack for finding information online that most people can’t find. Some of the information I find through simple google or yahoo searches, and some of it I found through forums and other similar websites. If you start bouncing around from page-to-page, you’ll start learning new search terms you should look for and that’s what generally happens to me. If my first search was for “bpo jobs in Rochester NY”, I may bounce around different websites until I find a website that says the best BPO company in this area is John Jones Asset Management then I might do a new search for “John Jones bpo signup”…and that search may lead me somewhere else. It almost feels like a treasure hunt sometimes.

Once I have found the information, I add it to the list I’m compiling. If I receive feedback that a company is no longer in business, I remove them from my list.

Over the months (and years), this fluid list has proven to be a great tool for many new agents. Some people are selling this same information elsewhere on the internet and I feel that you don’t need to pay for it – spend your money on something else worthwhile (get a dinner for your significant other, that’s definitely more important than a silly BPO list).

Thanks for your support and readership, keep letting me know how I can improve!

-Rob

No shortcuts

Some real estate agents think that they can just call a bank and ask for their REO Department, and BOOM!  Instant BPOs and REO listings!  In the real world, that’s not the way it works.  It takes hard work, just like anything else in life.  There are no shortcuts – you must put in your time and eventually you will be rewarded if you work hard

Many real estate agents want to start listing foreclosures for banks but they are unaware of all of the steps required to begin. For example, unless you have a personal contact at a bank, it’s virtually impossible to just call a bank and start listing their REO properties.

To receive BPOs (and eventually list REO properties) directly for a bank, you need to build a relationship.  Isn’t that what being a Real Estate Agent is about anyway?  This is no different.  You’ll need to network, schmooze, perform quality work when given the chance, and then do it all again & again. 

If the bank DOES assign out REO listings directly to agents, they will need some sort of assurance that you will perform quality work.  What can you offer to a bank if you’re just starting off in a brand-new relationship?  Let’s brainstorm here.  

• Offer to do “X” BPOs for free/for a reduced price
• Partner up with an agent who already has an established relationship with the bank
• Attend events where you can get some one-on-one face time with decision-makers within the bank.

Offer Free/Reduced BPOs

This is a good way to get your foot in the door.  If you’re dealing directly with the bank, often you can “prove your worth” by offering free or reduced-price BPOs.  This is a no-risk way for the bank to get to know you and your quality of work.  Present it that way to the bank – “no risk, high-quality BPO service”…

How successful you are with this technique will depend on a lot of factors such as your persistence, your drive, your determination, your selling skills, your personality, the bank’s current needs, the bank’s business model, the bank personnel’s personality, and many more things. 

Partner up with an established agent

This can be the most effective way to get your name out there.  Find out who the big hitters are in your market, or in your office, and offer to partner up with that agent.  Once again, your success will depend on many factors but most of all, your success depends on you – how well you can sell that agent that you can help them with their business.  Don’t go up to this super-agent and grovel, beg, plead, or act self-serving.  That won’t work.  You need to present it as beneficial to that agent.  Otherwise, what’s the point in working with you?

Attending Events

Sometimes, it all comes down to networking.  That’s how many things get done in life – a chance meeting with some decision-maker that turns into a long-lasting, profitable relationship.  Attending events where you know these bank decision-makers will be present will increase your odds of picking up new BPO and REO business. 

Some examples of these events would include your local Chamber of Commerce meetings, local Realtor® meetings, title company gatherings, any local event involving the bank you’re targeting, and national lending/REO/foreclosure seminars.

As you can see, a lot depends on you, the agent and your own efforts. Put in the time, effort, and hard work it takes to build a solid foundation and you will have the best chance of succeeding in this highly-competitive field.

As always, feel free to leave your comments or questions below.

In today’s market, dominated by short sales and REO properties, a new breed of real estate agent has emerged: The BPO Guy.

You many know The BPO Guy – he (or she) does hundreds, if not thousands, of BPOs each and every year as their primary source of income. You might even BE The BPO Guy.

There are many reasons why an agent would choose to be The BPO Guy:

• Faster, more consistent income stream than waiting on commissions
• Helps newer agents become familiar with the market
• Opens the door to possible REO listings down the road
• Some agents may find BPOs more enjoyable than selling houses (personal preference)

These are all good reasons and the current marketplace is very conducive to this method of earning a living. Let’s talk about the 4 reasons listed above.

Faster, more consistent income stream than waiting on commissions

The traditional way of getting paid is still the most lucrative. There are some agents who have the right combination of factors to sell houses – they have the proper connections, they work extremely hard, and/or they just plain have “luck” on their side. In these cases, selling houses represents the best way to make money. And usually, these agents make A LOT of money!

For other agents though, BPOs represent a steady stream of income. Sure, they still sell houses every now & then but it’s the BPO business that puts food on their table. When a house is sold, it’s more of a “bonus” income rather than their primary income. More & more agents are “morphing” into The BPO Guy. How much can you make? See this post for some ideas.

Helps newer agents become familiar with the market

For a new agent, real estate can be intimidating. They have just completed countless hours of education to receive their state license, and now their head is spinning with ideas. They are raring to go, ready to tackle the world. They receive their first listing through some combination of luck and/or connections, and start counting their commission already. Then the real world hits and they are stuck with an overpriced property with no buyer interest and little to no offers.

If the agent had more experience with the market, they would have had a better idea where to price that property. Performing BPOs will force an agent to become familiar with property values. Just filling out the actual BPO form is like taking a mini course on property valuation every time. Once an agent is intimately familiar with the property values in their area, they will invariably become a better agent.

Opens the door to possible REO listings down the road

One of the main reasons agents perform BPOs is for the potential REO listings on the back end. Getting REO listings means commissions, which means larger paychecks.

Some BPO Companies require agents to complete BPOs in order to receive REO listings so they have no choice in the matter. Some BPO Companies pay, some do not – the expectation of REO listings is the proverbial “carrot” dangling in front of the agent.

Earlier I wrote a blog post about this subject so check it out here:
REO Listings

Some agents may find BPOs more enjoyable than selling houses (personal preference)

There’s a whole other category of real estate agents who just feel more in a comfort zone performing BPOs rather than selling houses. It’s more a matter of personal preference but generally these are the “busy-body” people who want to stay constantly busy. Or they could be a current or former appraiser, and property valuation comes easy to them. Or they could be a computer/tech type person, and they find that filling out BPO forms is more enjoyable than writing up contracts. It all depends on the person.

Most people would cringe at the idea of knocking on a door, telling a family they need to move out within xx days…but as an REO agent, that’s part of your job. When a bank takes back a property as REO, it’s one of the first steps they need to take to properly market the property.

Emotions can run high – you’re kicking a family out of their home, and they often have no alternative in mind. In the case of a renter, your visit to evict them may come as a total surprise. They may not even know their landlord lost the property! If it’s a homeowner, they may be difficult to work with – there may be sentimental value attached to the home, or they may hold a grudge against the lender. Remember, it’s a stressful time for the tenant/homeowner so the situation needs to be handled with the utmost care.

The most expensive (as well as time-consuming) way to get rid of a tenant or homeowner is the old-fashioned court eviction. There’s a long, drawn-out court process involved and with today’s housing environment, it can take a very long time.

Cash for keys

Therefore, the most common way to evict a tenant is the “Cash for Keys” program. The bank pays a certain amount of money to the tenant/homeowner, if they agree to move out within a specified time period. For instance, the bank may offer the tenant/homeowner $1,000 to move out within 1 month.

Some banks offer differing amounts of money, depending on how fast the tenants/homeowners move out. For instance, they might offer $1,500 if they move out within 2 weeks, $1,000 if they move out within 4 weeks, $500 if they move out within 6 weeks, and nothing if they move out after that.

Vacant Properties

Sometimes, the property is already vacant and the agent has to perform a “Personal Property Eviction”. It sounds funny because you’re evicting property instead of a person, but sometimes it’s necessary. There are different guidelines that vary by state – in some states, there are laws that give tenants/borrowers a specified period of time to collect their personal property. Other states also have statutes that require specific handling of personal property left behind.

Normally, the asset manager will ask for photos of the personal property. Once all time periods/statutes have passed, any remaining personal property would be evicted and/or trashed out. Anything of value is often stored in a storage unit.

The Argument

Many appraisers try to argue that broker price opinions are a HUGE problem in the market. they say that BPOs are causing all sorts of problems since they are basically “cheap appraisals” and the old adage “you get what you pay for” applies. In general, here’s the argument from the appraisers:

• Appraisers are highly-skilled, well-trained experts in valuation.
• Real estate agents do not have the level of training/competence in valuation.
• Lenders rely on a cheap $50 product, what kind of quality can you expect?
• Appraisers are trained to do technical/analytical work, whereas real estate agents are trained to be Marketers/Salespeople. So marketers cannot possibly value a property.
• By using BPOs, lenders can circumvent the USPAP guidelines which were put in place to protect the industry.

Rebuttal

Here’s my opinion to rebut these points (and these points apply to full-time agents, not part-timers):

• Real estate agents who perform BPOs are often MORE in-tune with the market trends than an appraiser, since they are doing more volume and they spend more time in the market.
• Although real estate agents are being paid “peanuts”, there is usually a higher payday down the road with listings – also, the more activity an agent generates, the more money they make (in general).
• Many times, the real estate agent has already viewed the INTERIOR of the comps chosen – at least for the listings – appraisers almost never do this (they just take drive-by photos of comps). Therefore by being “marketers”, this actually gives the real estate agent an ADVANTAGE over the appraiser.
• Lenders normally do not order BPOs for purposes of lending – a full appraisal is still needed. Usually the BPO is ordered as part of a default situation, which is much different from a purchase or refinance valuation.

Real estate agents are more apt to give an accurate value as they KNOW what properties are selling for and they are giving a 30, 60, and 90-day value. A property which is “appraised” for $100,000 will normally sell for a different amount – what good is the appraisal then?

The fact is, when an appraiser gives a value on a property, that value could be a wide range of numbers. The same could be said about broker price opinions. So which one is better? It’s subjective. Appraisers say they are more accurate, and real estate agents say the opposite.

Bottom Line

The bottom line is, there are good appraisers and bad appraisers. There are good real estate agents and bad real estate agents. If you ever got your hands on lender’s “exclusion lists”, you’ll see there are thousands and thousands of appraisers AND real estate agents who are excluded from doing business with that lender. Usually it’s because of shoddy work. It’s these “bad apples” that often get all the press.

But saying all that, I believe there’s a place for both appraisals and BPOs in this marketplace, and I believe the good appraisers realize this.

Not so fast…

Sometimes, the REO listing can be more of a hassle than it’s worth. If you are eager to just accept any ol’ REO listing, you might find yourself disappointed. Let’s take a look at an example:

Let’s say your market is like mine, houses routinely sell for under $100,000. Now let’s say an asset manager calls you up and says, “Ok Mr./Mrs. agent, I have a new listing for you.” You instantly perk up and see dollar signs (commission). “Tell me more,” you say. Then you get the details: “This house will not qualify for traditional financing, it needs too much work. We need all cash offers only.”

Ok, you perform your initial BPO you determine that the property is worth $60,000 in it’s “as-is” condition. There are some repairs (about $15,000) and the “repaired” value is $90,000. Now you immediately have a potential problem: cash buyers are much easier to find for a really cheap property in the $10-20k range, but now we’re talking $60,000. That’s a decent chunk of change in this economy.

You go through your established list of potential buyers in that area, you show the property to several prospects and nobody makes an offer. You submit a Listing Price Reduction to your Asset Manager, asking for a price reduction to $55,000. That oughta sell it, you think. Get that listing “refreshed” in your MLS system. Listing price reductions get attention.

More months go by. More buyers go through the property, but still you receive no offers. You’re struggling to keep any sort of activity going with this property. Worse yet, your expenses are piling up:

• Gas money driving to & from the property
• Advertising/marketing the property
• Maintaining the property

9 months in, you have the listing price now reduced to $45,000. You finally find a buyer at a price of $40,000. You submit the offer to the bank and they accept!

What did you earn?

NOW – What is your commission on this sale? Normally the bank or REO Asset Management Company will pay about a 6% commission. If your broker listed and sold the property, they would receive a $2,400 commission on this $40,000 sale. If you are an agent under your broker, your pay would depend on your commission structure but for argument’s sake, let’s say you get a 50/50 split on commissions. So your broker makes $1,200 and you make $1,200 out of the $2,400 commission earned by your broker.

If it took you 9 months to sell, it’s reasonable to say that you put in at least 2 full work weeks (80 hours) trying to sell the property – whether through evicting tenants, cleaning up the place, marketing, networking, inspecting, showing, or any other phase. The actual amount of hours is probably more than this, but for the sake of this example we will use that figure. That means you made $15 per hour for those 80 hours. Or, broken down into months, you made about $133.33 a month for the 9 months it took to sell the property.

In many cases, however, you made HALF of all these numbers because there was another agent/broker involved. If you had to split the commissions with another broker, your broker would only receive a 3% commission and you (as an agent) would receive only 1.5% of that. So in this example, you would make $600. Hardly anything to get excited about, for a 9-month grind.

Factoring in the fact that some brokers have a huge monthly advertising budget, it’s quite possible that the broker actually LOST money on such a small commission.

So although most agents are clamoring for REO listings, and rightfully so, it’s not always going to work out well. There’s going to be some “stinkers” thrown in along with your “home runs”. If you’re new to REO listings, you would be wise to team up with a veteran who can show you the ropes. You’ll have to network to find the right person but once you do, they will be invaluable to your career.

This topic took me awhile to actually “grasp” the concept. But for those of you who are new, I’d like to try to simplify the concept of web hosting.

When you purchase a domain name such as www.yourname.com, you just own that name. That domain name, in and of itself, isn’t a website (you can’t go to that website yet)…you must first purchase a web hosting plan.

A web hosting company is a company that gives you space to store your website files. They provide a “server” which is basically a super-powered computer that’s connected to the internet. You can’t have a website online without using some form of web hosting.

The company I’ve been using for my blog is Bluehost.com. I like them because they are extremely user-friendly and their support department is unbelievable. Every time I’ve had a question, I’ve had a response within 24 hours, usually much less than that.

And trust me, I have asked many questions and I expect that you will too. If you want to sign up with Bluehost, click CLICK HERE.

In general, you can expect to pay about $6-10 a month for hosting.

What I like about Bluehost is that they make it easy to start your blog, and they have an easy-to-use Control Panel. The Control Panel is where you make all the changes to your website. For example, they have a WordPress link in their Control Panel, all you have to do is click on the WordPress link and follow a few simple instructions, and BOOM!! Your blog is installed and ready to go. The advantage to having your blog hosted on your own website is that you own it, you can make whatever changes you like (full control). This means you can change the appearance however you’d like, you can do basically anything, because you own it. Additionally, your customers/readers will be able to type in YourName.com instead of YourName.blogspot.com.

Domain names are a lot like real estate. The valuable names are worth a lot of money and just like they say about land, “They ain’t making any more”…

So, if you find YourName.com has already been snapped up, you’ll have to get more creative with your domain name. Some people use a first name along with a catchy word, like “SusieSells.com” or “BuyFromGuy.com” . Some people use a hyphen between their first and last names. Still others use other domain extensions like .net, .org, .us, .cc, and so on.

A word about domain extensions

By far, the most popular domain extension is .com. If you can get a .com domain name, it’ll be easier to remember for your clients. In general, purchasing a .com domain name is as cheap, if not cheaper, than any other domain extension.

However, if you absolutely MUST get another domain extension, you should go with a .net or .org domain name. Both of these domain extensions are well-recognized and most of your clients should have heard of them, so it will keep your credibility in their minds. As you can see, my blog was on a .org domain extension, that is because the .com and .net were both taken. If the .com or .net (or both) comes available sometime in the future, I’ll likely try to grab it but for now, I’m happy with the .org version.

As far as search engine rankings, it doesn’t matter which domain extension you use. What matters most is the content on your website.

Other extensions such as .us, .cc, .tv, and others are also available but I wouldn’t recommend them unless you REALLY need YourName.com or some specific wording you REALLY want. The reason I say that is that you should be able to give your website out to somebody verbally, without having to explain to them that “instead of .com, make sure you type .tv”. Some people don’t understand this – instead of YourName.tv, they’ll type in YourNametv.com. Why not remove the confusion and just get a .com?

Using “Realtor®” in your domain name

There’s only a couple cases where you can use the term “Realtor®” in your domain name. Those cases would be:

• Using your name – example: YourNameRealtor.com
• Using your broker’s name – example: yourbrokernamerealtors.com

Here’s some examples of domain names you CANNOT use:

• bestrealtor.com
• sandiegorealtor.com
• yourcitysbestrealtor.com
• therealtorblogger.com

This is how I understand the rules – the actual rules can be reviewed here. The main thing is, if the NAR were to deem your domain name unacceptable, you could find yourself in some trouble. All the hard work you’ve done building your website will be gone, as they will likely confiscate your domain name.

The bottom line is, you should probably just avoid using the term “Realtor” in your domain name – there’s so many other combinations you can use, just be creative.

Next post, we’ll talk about web hosting for your domain name.

Blogging Basics

One of the first things many people wonder when starting a blog is, “How do I get readers?” I had the exact same question. I started this blog just earlier this year in February and I had some other friends with blogs who told me, “Just start writing good, interesting content and your audience will come.” I didn’t understand how that would work, but that’s exactly what I set out to do.

My first obstacle was to write something good/interesting. With my background in the BPO and REO industry, and all the questions I constantly heard from agents, I knew that a blog of this type would garner some interest. So I just started typing. My first post, titled: Completing Your BPO – How to Find Comps when there are No Comps! – was just an idea that popped into my head because I knew that it was a question I had been asked before. So I figured it would be interesting to some people.

After that first post, I got a little more comfortable and realized that it wasn’t too hard or intimidating, so I continued to put out new posts on various topics. Later, I realized that I had something of value (a BPO company list that I had compiled from various sources)…I noticed that some other blogs and websites were selling this information. I compiled my list for free and felt that the other websites might be trying to take advantage of people. I also knew that my list was probably as good as any of these “pay” lists, so I decided to offer this for free to my readers. This has been a huge success, as this is my most popular page and it’s how many of you came to find out about this blog in the first place. So I’m glad I did it, and will continue to do so indefinitely.

One of the best things I have found from blogging is the satisfaction I’ve received from the comments I’ve received. Most people have been very encouraging and this helps to keep me going! I really have tried to help real estate agents as much as possible, so I hope that it shows in my posts. The free list is an example of this.

Getting Started

So if you’re a real estate agent interested in starting a blog for your own real estate business, I do think it can be helpful both for your personal satisfaction, as well as your business success. If you’re writing good, interesting content, the search engines will begin to pick up your blog. And that will lead to more visitors. For example, if you target your blog towards first-time home buyers in a specific area, you’ll start getting first-time home buyer visitors that can potentially lead to sales/commissions. You’ll need to target your blog posts towards the keywords you are looking for but if you do it right, it will work.

I know of another guy who does a blog on making passive online income (not real estate). If you’re not going to do real estate in some capacity, pick an area of expertise where you could give your readers interesting facts – maybe you have some specialized knowledge/training in a specific area? Put that knowledge to work with your new blog.

For those of you out there who currently HAVE a blog, what else could you add? I’d love to hear your comments!

Ohio realty agents wary after 2 killings, robbery

By Meghan Barr and Thomas J. Sheeran
Associated Press

POSTED: 08:08 a.m. EDT, Sep 23, 2010

KENT: The killings of two real estate agents and robbery of a third within a week have agents in Northeast Ohio on alert, and some are even cutting back on business as police warn them not to go alone to show properties.

One agent was found Monday strangled in a burning home that had been vacant and on the market. The next day, another was found shot once, also in vacant home up for sale. A third was threatened and robbed of her purse at gunpoint as she showed an apartment building Sept. 15.

Two brothers are charged in the robbery and are to be arraigned Thursday. Police are investigating whether the robbery is related to the first killing, and authorities said the investigation into the second death was focused on a person who is not one of the brothers.

”A lot of agents are really scared and upset,” said Suzanne Brown, an office coordinator at RE/MAX Valley Real Estate in Youngstown, where all 24 agents in her office have canceled open houses scheduled for this weekend. She said the office has stopped taking on new clients until police are confident that all suspects are in custody.

Brown is reminding agents to take standard precautions when showing homes, such as following the prospective buyer into the property and not bending down or turning your back to the clients. Agents are also encouraged to meet new clients at the office, get identification and verify that they are preapproved for loans, all to help ensure that the potential buyers are serious and credible.

The agent who was robbed was showing a vacant apartment building in Boardman Township, outside Youngstown. She was told she’d be killed if she called police, Boardman police Capt. Donald Hawkins said. Her name was not released.

Paul Brooks, 27, and Robert Brooks, 25, were charged with aggravated robbery. They were being held in the Mahoning County Jail, Hawkins said. It wasn’t immediately clear whether either had an attorney.

Vivian Martin, 67, was found dead Monday on the kitchen floor of a burning home in Youngstown, according to police chief Jimmy Hughes. She was strangled, and authorities said the fire was arson.

The body of 51-year-old Andrew VonStein was found Tuesday in a vacant ranch-style house he was trying to sell about 40 miles west of Youngstown in a lakefront community near Kent State University.

VonStein, a prominent real estate agent who had worked in the Kent area for 32 years, was reported missing by his family when he failed to come home from work Monday night.

Police tracked VonStein, of nearby Ravenna, using a device in his car parked outside the tidy ranch home, which sits on half an acre of tree-shaded land with a swimming pool. Property records show the home, which sits across the street from a lake, is worth about $235,000.

At VonStein’s home, his two grown daughters cried as they remembered him.

Brooke VonStein said her parents had returned from a vacation in Georgia on Saturday night.

”He went to work on Monday and never came home,” she said.

VonStein often worked seven days a week, sometimes even selling houses while he was on vacation, his daughter said. He was active in the community and, for years, had been named the county’s real estate agent of the year.

”It’s just the oddest thing,” said Judy VonStein, his sister-in-law. ”The oddest thing. To know how much he is loved, that anybody would do this is very hard to understand.”

Sheeran reported from Cleveland. Associated Press Writer Matt Leingang in Columbus contributed to this report.

KENT: The killings of two real estate agents and robbery of a third within a week have agents in Northeast Ohio on alert, and some are even cutting back on business as police warn them not to go alone to show properties.

One agent was found Monday strangled in a burning home that had been vacant and on the market. The next day, another was found shot once, also in vacant home up for sale. A third was threatened and robbed of her purse at gunpoint as she showed an apartment building Sept. 15.

Two brothers are charged in the robbery and are to be arraigned Thursday. Police are investigating whether the robbery is related to the first killing, and authorities said the investigation into the second death was focused on a person who is not one of the brothers.
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”A lot of agents are really scared and upset,” said Suzanne Brown, an office coordinator at RE/MAX Valley Real Estate in Youngstown, where all 24 agents in her office have canceled open houses scheduled for this weekend. She said the office has stopped taking on new clients until police are confident that all suspects are in custody.

Brown is reminding agents to take standard precautions when showing homes, such as following the prospective buyer into the property and not bending down or turning your back to the clients. Agents are also encouraged to meet new clients at the office, get identification and verify that they are preapproved for loans, all to help ensure that the potential buyers are serious and credible.

The agent who was robbed was showing a vacant apartment building in Boardman Township, outside Youngstown. She was told she’d be killed if she called police, Boardman police Capt. Donald Hawkins said. Her name was not released.

Paul Brooks, 27, and Robert Brooks, 25, were charged with aggravated robbery. They were being held in the Mahoning County Jail, Hawkins said. It wasn’t immediately clear whether either had an attorney.

Vivian Martin, 67, was found dead Monday on the kitchen floor of a burning home in Youngstown, according to police chief Jimmy Hughes. She was strangled, and authorities said the fire was arson.

The body of 51-year-old Andrew VonStein was found Tuesday in a vacant ranch-style house he was trying to sell about 40 miles west of Youngstown in a lakefront community near Kent State University.

VonStein, a prominent real estate agent who had worked in the Kent area for 32 years, was reported missing by his family when he failed to come home from work Monday night.

Police tracked VonStein, of nearby Ravenna, using a device in his car parked outside the tidy ranch home, which sits on half an acre of tree-shaded land with a swimming pool. Property records show the home, which sits across the street from a lake, is worth about $235,000.

At VonStein’s home, his two grown daughters cried as they remembered him.

Brooke VonStein said her parents had returned from a vacation in Georgia on Saturday night.

”He went to work on Monday and never came home,” she said.

VonStein often worked seven days a week, sometimes even selling houses while he was on vacation, his daughter said. He was active in the community and, for years, had been named the county’s real estate agent of the year.

”It’s just the oddest thing,” said Judy VonStein, his sister-in-law. ”The oddest thing. To know how much he is loved, that anybody would do this is very hard to understand.”