Jacob Babins is the President of The Recovery Agents, LLC, Jacob is a thought leader, influencer, visionary, and successful entrepreneur. Jacob provides the leadership and energy that has inspired the creation of The Recovery Agents, LLC.
Jacob Babins joins other leading Bestselling Authors, International Speakers & entrepreneurs, CEOs, and Founders taking part in our Leader Roundtable Interview Series. The DotCom Magazine editorial team is delighted to have Jacob join us for our Leader Roundtable Interview.
Jacob Babins has many years of experience as an entrepreneur and operational leader in the real estate and healthcare industries, working with startups and family businesses through growth and development phases. Currently, he serves as the President of The Recovery Agents, LLC and Lien Capital, LLC, both of which are based in Pompano Beach, Florida. Jacob oversees the accounting, operations, finance, and business development teams, as well as directs the day-to-day functions of the companies. He attended Clemson University, where he earned a Bachelor of Science degree in economics and marketing. When he is not hard at work, Jacob enjoys spending quality time with his wife and newborn daughter and cheering for his Clemson University Tigers.
The Recovery Agents, LLC is a solution-oriented real estate platform company that helps homeowners facing foreclosure or having recently gone through the foreclosure process. They specialize in the recovery of real estate surplus funds—these are the funds remaining after payment of all disbursements required by the final judgment of foreclosure. The Recovery Agents, LLC uses a simple but effective process and has a team of seasoned foreclosure agents who ensure that the property owner receives the funds that are rightfully theirs. In addition to the recovery of surplus funds, they can assist the property owner in reviewing the foreclosure case, finding an independent attorney, and making arrangements for what follows the foreclosure process. Jacob Babins has a comprehensive knowledge of working with distressed properties as well as many years of experience with real estate in general. He and his team at The Recovery Agents, LLC are continually increasing their client services and working to make the client experience seamless and stress free.
Q: Why did you become an entrepreneur in the first place?
I knew early on that I wanted to work for myself and to build something from scratch. I had held various jobs in high school and college, and I saw what some of the pitfalls were of different business owners and experienced for myself what some of the drawbacks were of working for someone else.
Q: How did you get started in this business?
I have been in real estate for quite a while. My partners and I combine for over 30 years of experience in real estate. Much of the work that we have done is with homeowners in difficult financial situations and with distressed properties. We have worked through a variety of complex situations—lis pendens, foreclosures, code violations, title chain issues, and more.
We have helped homeowners manage those cases by means of short sales, refinancing, or other processes, but we wanted to also figure out how to assist people who were unable to avoid foreclosure. That is when we created The Recovery Agents. We were immediately able to help homeowners recover surplus funds because we were already experts in dealing with distressed properties and foreclosures. We have been able to help in situations where other similar companies, and at times attorneys, haven't had success. With The Recovery Agents we focus on assisting homeowners in a wide range of ways: recover excess funds, review their foreclosure case, find an independent attorney, find suitable housing, assist with moving, and make sure that they are set up for what comes next.
Q: Please tell us the one thing that separates your business from the competition?
The process for recovering surplus funds requires a lot of paperwork and detail, and I have heard from more than one of our clients that the reason they chose us is that other companies made them feel like "more paperwork" or "another case." We make sure that regardless of the detailed process, we always make clients our number one priority.
Q: What does the future hold for your business? What are you most excited about?
We are continuously expanding our client offerings and evolving into a one stop shop. Whatever the next step is for a client we want to help provide it: we can help find additional financing, hire an attorney, or protect their surplus funds against competing claims. In addition to that, we make sure to stay up-to-date on any industry trends or add new capabilities based on customer feedback.
Q: What does your typical day look like and how do you make it effective?
I start every day by meeting with my team and looking at the current cases we have going and setting a clear outline of what we need to accomplish that day. Part of my day is in client development and assisting our recovery agents who are talking with potential clients. As president of The Recovery Agents I make it my business to know every one of our clients by name and to make sure that each of them is being treated as an individual and getting as much time as they need.
Q: What has been your most satisfying moment in business?
We were able to help a single mother with two children get back $50,000 in surplus funds that were rightfully hers. She was a hardworking mom and the nicest lady. To be able to help her and her kids out as a part of my normal work is a great feeling.
Q: What's a personal self-talk, mantra, affirmation, or self-belief that contributes to your success?
I believe that there is no one out there that is going to outwork me. I'm going to put in the hours and work necessary to get the job done. Whether it is research, talking with clients, meeting with my team…whatever it might be, I know I'm going to follow through until it is 100% complete and done the right way.
Q: How do you bring ideas to life?
The most important part is to develop a plan and a course of action. Once you have established that you are able to set expectations for yourself and your team, and then to hold everyone accountable. Afterwards, it is important to make use of self-reflection and self-analysis. That is the only way to continue to improve.
Q: What piece of advice do you wish someone had given you at the start of your career?
Don't be afraid to fail. I wish I had started on my own endeavors earlier in life. I still have plenty of years to pursue my own ideas and build my own businesses, but if I hadn't been so hesitant earlier on I could be a little farther ahead.
Q: With that in mind, how do you deal with fear?
Everyone feels afraid at times. That is only natural. The important thing is how we react. I've found that for me the important thing is to take a step back and make a rational analysis of the situation. More often than not, the situation is not as dire as it seems. After getting a realistic idea of what I'm dealing with, I start on a plan of action. Usually from there I'm focused on my next step and forget to dwell on the fears.
Q: What is one habit of yours that makes you more productive as an entrepreneur?
I actively seek out criticism from my partners or trusted business peers, and when receiving it, to do so openly. We all have blinds spots, and the only way to improve my performance as a leader is to get an outside perspective. Then once I receive that criticism, I consider what I can reasonably change and in what time frame.
Q: One key to effective leadership is good communication. What advice can you offer on that?
Read your emails from oldest to newest and don't respond until you have made it through them all. It is a simple thing, but can help prevent miscommunication and confusion. You might spend time researching an issue and responding to a question only to find out that the situation changed and a later email was telling you to disregard the previous one. Things change quickly, especially in our industry, and bad communication slows everyone down.
Q: What do you see as your greatest success in life, so far?
I've started a few businesses but so far The Recovery Agents is probably what I'm most proud of. Not because of profitability or size but because it is also a business that focuses on helping people out when they really need it.
Q: What book would you recommend and why?
The Effective Executive" by Peter Drucker. It is a key book on understanding how to be a great leader in business.
Q: What is your favorite quote?
"If you can, you should, and if you're brave enough to start, you will." – Stephen King
Jacob Babins, thank you so much for participating in the DotCom Magazine Leader Roundtable Interview Series. We appreciate you participating in this important roundtable interview series, and helping our readers learn more about what it takes to build a great company and become a great leader. We wish you, your family, and of course The Recovery Agents, LLC, nothing but the best.