Bank Reo information

7 Replies

You have to build relationships with the asset manager at the banks. Just go in and introduce yourself and start to build a relationship with them.

As an asset manager, the REO agents I work with are the ones that bring a purchase offer in on one of my REO's. That shows me they are hungry, and can get the business. The ones that come in and introduce themselves without a purchase offer, asking for my listings, are the ones I put on a list to not use. Anyone can list a property. Not anyone can bring a purchase offer in. If you want to build relationships with an asset manager, that's how you do it best in my opinion.

Ron's method of selection is not typical. Most asset managers seek Brokers who already understand the REO Property Management systems from the listing side.

Ron S, I am RE broker, with experience in short sales, familiar with Los Angeles rent control, reap, code violations, I am a Licensed General Contractor, I can bring an offer to any asset manager, but I have no experience with REO, If i get a listing today, i would not know what is the process. Please explain or someone's else