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Kelli, Real Estate Pro in Atlanta, GA

Please help!! Doesn anyone know of any REO companies in Georgia where they're looking to hire more agents??

Asked by Kelli, Atlanta, GA Tue Aug 19, 2008

It seems like they're the ones getn all the listings since the market is upside down right now! PLEASE HELP!!

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6
Goldmine Realty Group is hiring agents looking to join our REO team.
0 votes Thank Flag Link Fri Dec 3, 2010
Actually most REO companies operate in multistate regions if not nationwide. This is becuase lenders usually lend on properties all over the country. What I think you might be looking for is an REO company that needs REO/BPO work in your area.

I recommend getting signed up with several BPO companies and start completely BPOs to get some exposure. When you sign up you can indicate which areas in Georgia you want to work.

Once you get signed up you will need to complete a lot of BPOs but you should get paid a small amount on each one. It's important to find ways to promote your name on each one so that you stand out from all the other Realtors completing BPOs. Check out http://www.LearnTOListREO.com .

Hope this helps!

Dave
0 votes Thank Flag Link Tue Jan 20, 2009
The REO Servicers I work with are not regional (i.e. Georgia). They are all national companies, farming BPO's & listings out to agents in their database that service a specific area where they have an REO property.

It's a difficult segment of business. Work twice as hard, earn half as much (or, depending on your market, be the only agent in your office to earn ANYTHING). You must have money to make money. All the REO Servicers I work with require a time & money commitment prior to even securing the listing (i.e. occupancy check, rekey, repair of health & safety hazards, trash-out, lots of other footwork). You need to be good at bookkeeping & scanning into PDF files to submit your invoices and keep track of what they owe you. You essentially become not just a Licensed Real Estate Salesperson, but also a Property Manager and a Bookkeeper. The listing agreements protect the lender, no the agent. Generally, they can pull the listing from you with 24 hours notice -- no reason -- no recourse.

Anyhow, if you're looking for REO companies, don't limit your search to Geogia.
0 votes Thank Flag Link Tue Aug 19, 2008
You gotta check out http://www.shortsalesforrealestateagents.com
sign up for the free newsletter...It's all about short sales...even gets into the whole REO/BPO deal.

You should look into doing BPOs..that's (in my opinion) the BEST way to get into being able to list REOs..Gain the trust of the lenders you will be working with.

Best of Luck
0 votes Thank Flag Link Tue Aug 19, 2008
Kelli
I work with IASREO out of Denver . The way I got in was to go to one of their annual meetings, attend all the workshops, send my info to several of them, do BPO's. I then got listings in the 22 to 45,000 range to start and worked my way up. The seminar was $1500, not counting airfare, hotel, meals, and handouts (pens, markers, etc with my info & company info on them.
0 votes Thank Flag Link Tue Aug 19, 2008
I would just search FMLS in your area and use special circumstance "corporate owner" and/or "foreclosure" to see who is actively listing - you can obviously also choose "sold" properties or "pending/contingent" to see who is actually closing them.

Best of luck to you!

Lee
0 votes Thank Flag Link Tue Aug 19, 2008
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