REO Agent sign up
4 posts, 4 voices
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Lcortes (joined May 15, 2008) |
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luisest (joined Apr 18, 2007) |
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RyanAssist (joined May 16, 2008) |
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ryan (joined Apr 20, 2007) |
Lcortes writes, May 15, 2008: (1 post)
I am a realtor, I want to start getting REO listingds from Banks, do you have any suggestions?
luisest writes, May 16, 2008: (6 posts)
My first start would be to contact an agent that currently focuses on REOs, and ask how they got started. Thats a good question though, I’m not sure how one gets in to that niche? Maybe REO specific agents are former bank foreclosure managers?
RyanAssist writes, May 16, 2008: (2 posts)
As a general rule this is local and usually done through relationships that are established. I know locally there are about 4-5 agents that do the majority of REO listings. They know people at the bank and have a relationship that in many cases goes back years. Best place to start is to visit the banks and ask them who handles their REO listings. Another way I have found is to work short sales with banks. If you work hard and do a good job, they will throw you a bone. Like anything else you have to work your connections.
ryan writes, May 17, 2008: (27 posts)
hey ryan,
i bet your right, as is luisest. most of those agents have some existing relationship. Though with the amount of REOs and short sales coming on the market these days, it’s more likely the institutional lenders are open to forging new partnerships with eager agents. good luck lcortes. probably a smart niche to gravitate towards.