How do I get lenders to contact me to list their bank owned properties?

Buddy King
Agent
32413

Answers (2)
Laura Graves
Agent
Miami, FL

Buddy,

You should also go ahead and join a few websites such as http://www.reotrans.com; and http://www.res.net. They have a very large network of Banks that submit properties on these sites. This will give you more exposure. It would be helpful to you to go and contact 1-2 local Bank's and establish relationships with them as well. Let them know you will do bpo's for them and that you are looking to represent them in the marketing and sale of their reo assets.

Good luck. Working the REO world is very hard work and there is an enormous amout of paperwork, but it will keep you busy!

Laura Graves
Real Estate Pro
Miami Beach, FL

Sun Nov 23 2008, 16:27
Scott Godzyk
Agent
New Hampshire
FIRST ANSWER

Simply hard work......... Most lenders have already closed their lists for taking on new agents. The key is to do bpo's, dont buy lists, there are no short cuts... by doing the bpos you get your name in front of the reo managers. you get graded on your bpos and the listings are given out accordingly, i have figured on average it takes 13 bpos to get a listing. you should start with teh banks you refer your customers to get mortgages, ask the loan officer for a referal, this will get you in and you can grow from there.

Sat Nov 22 2008, 14:38

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