how to get listings for REO?

There are a lot of REO agent sites and also you can contact the banks directly. Most of htem have REO Asset Manager (or companies they hire with asset managers) and you sign up to there site and/or call them.

Also be willing to do BPO's for free.

Edited: 06/26/2010 at 04:09AM

Mark David

Commercial Lender · los angeles, CA

10 posts

Icon_minipost Oct 26 '07, 06:21 AM

call any customer service # for any bank that is still in business and ask for the REO department or ask for the loss mitigation department. Start with Countrywide.

Edited: 06/26/2010 at 04:10AM

Tom Wood

Residential Real Estate Broker · St. Louis, Missouri

254 posts
13 Influence
1 Award

Icon_minipost Oct 26 '07, 10:21 AM

Most REO listing agents start by doing BPO's. BPO's are lots of work and the pay is usually only $50 - $100. Probably a combination of what the others have suggested with signing up to do BPO's will take you down that path.

Edited: 06/26/2010 at 04:10AM

Twyla Craven

Residential Real Estate Agent · Kansas City, MO

13 posts
2 Influence
1 Award

Icon_minipost Nov 04 '07, 12:33 AM

I've recently learned Countywide is getting their listing agents for their REO properties through their local loan officers.

Edited: 06/26/2010 at 04:13AM

Mike Binford

Real Estate Investor · columbus, OH

16 posts

Icon_minipost Nov 07 '07, 09:48 AM

alot of the time its about who you know.

Edited: 06/26/2010 at 04:13AM

N/A N/A

6 posts

Icon_minipost Nov 07 '07, 11:19 PM

If you are interested, right now my brokerage has a list of over 400 REO's and foreclosures in Southern California that we are moving at 65 to 80 cents on the dollar. Almost none of these homes are listed on the MLS as the banks have entrusted us to move them. If you are really looking for some great deals then give me a call and we can chat some more.

Edited: 06/26/2010 at 04:14AM

Twyla Craven

Residential Real Estate Agent · Kansas City, MO

13 posts
2 Influence
1 Award

Icon_minipost Nov 08 '07, 09:39 PM

As interesting as that sounds I don't have anyone to invest in Southern California. I've got investors in Kansas City investing in Kansas City and Investors from other areas investing in Kansas City. I will keep my ears open for you though.

Edited: 06/26/2010 at 04:14AM

N/A N/A

6 posts

Icon_minipost Nov 09 '07, 12:09 AM

I appreciate it.

Edited: 06/26/2010 at 04:14AM

N/A N/A

1 post

Icon_minipost Nov 15 '07, 02:41 AM

I know that real estate educate is offering default training which is now being required by REO companies before you can get their REO listings and BPO work.

Edited: 06/26/2010 at 04:16AM

Sosina Makbebe

Real Estate Agent · los angeles, CA

2 posts

Icon_minipost Nov 17 '07, 10:25 PM

Originally posted by "joepica"

If you are interested, right now my brokerage has a list of over 400 REO's and foreclosures in Southern California that we are moving at 65 to 80 cents on the dollar. Almost none of these homes are listed on the MLS as the banks have entrusted us to move them. If you are really looking for some great deals then give me a call and we can chat some more.

send me reo's and short sale propertys for my invistors in southern california. they are looking in los angeles and san fernando aria

thank you
myagentsuzy

Edited: 06/26/2010 at 04:16AM

Alex Vainberg

13 posts
1 Award

Icon_minipost Nov 30 '07, 05:12 AM

If you have properties in Bay Area I am interested.

Thank you

Edited: 06/26/2010 at 04:19AM

Carmelita Sams

· Chicago Area, IL

14 posts
1 Award

Icon_minipost Dec 24 '07, 05:04 AM

There's two associations I know of that may be helpful to you. One is REOMAC. I don't know much about them other than the fact that a Chicago broker that I know is a member and he named some REO listing heavy hitters as members, too.

The one I really like is NRBA, which stands for NATIONAL REO BROKERS ASSOCIATION. I learned about them through a local Keller Williams agent that deals with REO's.

What I like most about them is their question and answer (faq) page about what to expect and what skills you need to be an REO broker. I think you'll find their faq's page very helpful.

Edited: 06/26/2010 at 04:25AM

Wayne Long

Real Estate Agent · Columbus, GA

12 posts
1 Award

Icon_minipost Dec 24 '07, 04:34 PM

Thanks for the associations. It looks like a good way to get hooked up and find info. :)

Edited: 06/26/2010 at 04:25AM

Jaime Kosofsky

Real Estate Attorney · Charlotte, NC

56 posts
73 Influence
1 Award

Icon_minipost Dec 24 '07, 05:07 PM

Wayne -

There are a number of reo confrences each year which are sponsored by REOMAC, NRBA, etc...

They have roundtables and intros to the asset management companies for agents... I do not know how successful an agent is if they show up... but the companies realize the agent spent about 1000 to get there and that they are serious....

Some of the confrences offer great classes and networking opportunities...

check out: REOMAC, FIVESTAR CONFERENCE, MBA

Edited: 06/26/2010 at 04:25AM

Wayne Long

Real Estate Agent · Columbus, GA

12 posts
1 Award

Icon_minipost Dec 24 '07, 10:01 PM

I think that is an awesome idea. Usually the personal relationships take you further than anything else and conferences would be an excellent place to develop those relationships. REOs are tough in a lot of ways but they almost always sell eventually so there is a payday at the end of the tunnel.

Edited: 06/26/2010 at 04:25AM

Jeremy Meyer

6 posts
1 Award

Icon_minipost Jan 02 '08, 06:39 AM

I've been doing a few BPOs and they are a ton of work, but if I can get an REO account by doing a good job, it'll be well worth the time. Considering all my time and money I've put into making Real Estate work, it's amazing that a bank will pay me anything to do a BPO.

Edited: 06/26/2010 at 04:27AM

Mark Maly

20 posts
1 Award

Icon_minipost Jan 06 '08, 10:22 AM

Like everyone else is mentioning, starting off doing BPO's will lead you to get some listings.

Edited: 06/26/2010 at 04:28AM

Lauro Ruiz

Real Estate Consultant · Tustin, CA

12 posts

Icon_minipost Jan 09 '08, 12:55 PM

Try registering with some asset management firms like KEYSTONE Asset Management.

Edited: 06/26/2010 at 04:29AM

Craig Ignatowitz

15 posts
1 Award

Icon_minipost Jan 20 '08, 01:16 AM

Originally posted by "joepica"

If you are interested, right now my brokerage has a list of over 400 REO's and foreclosures in Southern California that we are moving at 65 to 80 cents on the dollar. Almost none of these homes are listed on the MLS as the banks have entrusted us to move them. If you are really looking for some great deals then give me a call and we can chat some more.

I just passed this info on to the owners of my company. If they are interested they will be calling you.
Im sure we can help.
Craig Ignatowitz

Edited: 06/26/2010 at 04:33AM

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