And, call REO agents in your area that are swamped. Some might be willing to have you help them service some of the listings for a piece of the pie. Or, better yet, maybe they'll refer their buyers to you!

Sun Jun 29 2008, 13:12

I triedhttp:// www.AssignREO.com it's a FREE online REO agent directory that pretty much markets my services for me to Asset management companies and banks.

Sat Jun 28 2008, 23:03

Mini,
Other thoughts on becoming an REO agent. The Lane Guide has the vast majority of lenders loss mitigation, servicing and reo departments. We have a copy at our office and you are welcome to copy pages for the lenders you might send a resume/marketing plan/video demo/ request too. I have been recommending to some of my clients to submit a video summary of the BPO along with the regular BPO to the lender to stand out from othe contenders. You can see some of the videos I created for marketing and education at http://www.fredeckertgroup.com . You can also go to http://www.youtube.com and put fred eckert in the search box. Then click on 3fredeckert3 to see all 10 videos. If you are working with buyers on REOs, consider looking at all the paperwork form the bank to see possible contacts for leads. I agree that BPOs are lots of work, however, making your BPOs stand out from the crowd may help. I have other ideas if you want them, so call me if you would like to discuss them.

Tue Jun 24 2008, 21:35

I am part time real estate broker in SF bay area. I put together list of BPO companies at http://www.garypedia.com/realest/rebpoinf.php

Tue Jun 24 2008, 18:22

We have all these "Celeb" lookalikes on trulia! Mimi above looks like a young Marie Osmond and I swear Brett Noel looks like Al Gore!!

Wed Jun 4 2008, 20:31

I agree with Brett as far as BPO's.

It used to pay $150 for a drive by. But, all the ones I've seen lately are offering $40 and if finished in 24hrs. an additional $10. I would say to view the property and take the required photos, research the comps and put it all together in their report format is a very poor return for your time and gas. Sure, they hold out the hope of getting the listings...but, don't count on it. I know one broker who has done over 40 bpo's and never been contacted for the listing on anyone.

I would say you would be far better off working the expired listings.

Wed Jun 4 2008, 12:08

Mini,
Chicago Title is having a How to Become an REO agent seminar on the 12th of June. It is free, though you can expect some up selling by the vendors presenting. The information is at the link below...

Wed Jun 4 2008, 08:24

Check out the website http://www.BPOaccess.com for a free list of companies to sign up with. Good luck

Tue Jun 3 2008, 23:29

Do you really want to work these? The time spent closing these deals and putting up front cash to sell these homes can t be spent better elsewhwere. Fsbo's Expired Sphere of Influence

Sat May 17 2008, 23:56

2 ways to do it it; do what Tony said below..including get on reo trans.com, reomac.com.

The second way is to find an agent through yor brokerage who has reo's. Form a temporary relationship wherein you help them with their reo's. Strike a deal wherein every other REO, you are listed as primary agent. Mnay reo agents are so bogged down they can't return calls, take descent photos etc...some may be open to you working under them for a bit. Then after a year you will have a portfolio of experience wherein you can site to the asset managers and say look, I already have reo's from xyz...I would like more.

Remember; with Reo's you will need to make sure you have some cash flow. You will be putting the utilities in your name. You will get reimbursed, but it may not always be timely. It is more like a property managing. You have to make sure the property is maintained and secure while vacant, pay for utilities and do a lot of administrative work.
My 2 friends are doing a workshop soon on how to get these REO's.One of them is a realtor, the other was in charge of wholesale lending, as well as asset management for two large banks. Email me if you would like infor on that.

Fri May 16 2008, 07:59

Mini,
Here is a list of places to find BPO providers. http://www.google.com/search?client=firefox-a&rls=org.mozill…

Most BPO companies use online requests and agents submit BPO's online for acceptance. This is one foot in the door for REO accounts since you will be communicating with REO asset managers / Loss Mitigators. I have the Lane guide available for you to look at at our office in Mission Valley. You can copy information on the companies you are interested in. The Lane Guide is also available online (it is not free however) at http://www.laneguide.com/
Tony is correct that it can take persistence to become an REO agent. BPO work is easier to get, however, you won't get paid much for the work you will have to do. The experience and possible bank connections are probably worth the effort if you really want this type of work.

Fri May 16 2008, 07:53

START WITH THE LANE GUIDE. IDENTIFY REO DEPEARTMENTS FOR THE DIFFERENT LENDERS. SEND THEM A PACKAGE THAT INCLUDES A LETER OF INTORODUCTION DETAILING YOUR EXPERTISE AT MARKETING PROPERTIES. BUILD YOUR RESUME TO REFLECT EXPERIENCE WITH REO'S. CALL LENDERS TO IDENTIFY THEIR ASSET MANAGERS AS THEY ACTUALLY ASIGN THE REO'S. DELIVER PACKAGE IN PERSON IF AT ALL POSSIBLE. IDENTIFY LOCAL SMALLER BANKS AROUND YOU THAT YOU CAN VISIT TO INTRODUCE YOURSELF. JOIN REOMAC AND OTHER ORGANIZATIONS THAT DEAL WITH REO'S. GO ONLINE AND IDENTIFY BPO SERVICE PROVIDERWS AND GET ON THEIR LIST. IT TAKES TIME, EFFORT, ENERGY AND A LITTLE LICK. BUT IT IS POSSIBLE. I HAVE TRAINED AGENTS ON HOW TO DO SO. FEEL FREE TO E-MAIL ME AT: vonwymar@aol.com
FEEL FREE TO E MAIL ME IF YOU ARE SERIOUS

Fri May 16 2008, 04:48