I have a list of reo and bpo companies on my blog, you need to register with the reo asset management companies to get the reo listings, this should help you get started

John: So glad to see that you asked this question, as I also want to start getting involved in REO listings and BPO's. There are some great answers listed below.

One place to go is Realty Trac. They have a fairly complete list of foreclosed properties at all stages of the process and who the property owners (lenders) are, as well as some contact information. They also seem to update on a regular basis.

You should try to do well with BPOs first and register with lenders as an experienced agent. Good luck.

I had the very same question. All the answers here are great. I also found a couching program which is providing resources, weeking training/coaching, etc. It's helping me to make the right contacts and know what to say in the process. See the web reference link I've included with my post. And have a great day! Louann.

Hey John,

This is a very tough business! To get listings; REO's, short sales or others with equity you must make a lot of contacts. There is no short cuts or secrets. Spend 80% of your time trying to get listings and 20% of you time with the rest of the business and you will do well.

The best way is to register with all banks, some banks are not taking anymore agents but they will keep your name on the waiting list.

Just visit http://www.reointelligence.com and download their FREE Bonuses. They supply you with over 400 REO/BPO companies for free. Then they sell all of the direct contact information to the actual people that assign the listings for about 80 different companies. If you want listings it will come from these people so this info is what you need.

They have a bunch of REAL testimonials on their site as well.

Well you have some easier ways to do it, if you sign a foreclosure site you will have thousand and thousand of properties, including REO.

Dont forget the typical sites Guillermo mentioned.
the best way to go is to register on management companies like:RES.NET
IASREO.COM
REOTRANS.COM
USRES.COM
they send you BPO and they start giving you listings
(And one of my favorites) http://www.reoprep.com
Thu Aug 6 2009, 05:31

Yes I agree I have learned that cold calling does not work. I have learned that friendly emails do work though. Maybe try some "hello do you have any listings for me this week?"

Try some good old fashion cold calling of asset companies.

the best way to go is to register on management companies like:RES.NET
IASREO.COM
REOTRANS.COM
USRES.COM
they send you BPO and they start giving you listings

Check into becoming a Prudential agent. They've just signed a huge deal with SAM which will open up numerous opportunities for agents to work the REO network.

Some links below lead directly to the lenders REO Department while other link to third party websites that provide REO services for the lender.
Countrywide REO:
http://www.countrywide.com/purchase/f_reo.asp
Bank of America REO:
http://bankofamerica.reo.com/search/
HSBC REO:
http://www.banking.us.hsbc.com/

IndyMac Bank REO:
http://apps.indymacbank.com/individuals/realestate/search.asp
Ocwen Financial REO:
http://www.ocwen.com/reo/home.cfm
JP Morgan Chase Bank REO:
http://mortgage.chase.com/pages/other/co_properties_landing.jsp
M&T Bank REO:
http://services.mandtbank.com/personal/bank_owned_prop.cfm
Wells Fargo REO:
https://www.pasreo.com/reo/
Washington Mutual REO (WAMU):
http://www.wamuproperties.com
American Home Mortgage REO:
They aren't taking mortgage applications anymore but they are selling real estate, go figure. ;)
http://www.ahmhomes.com
Wachovia REO:
http://reo.wachovia.com/
Washington Mutual REO:
I could not locate any information about their REO.
Deutsche Bank REO:
No information is available online.
SunTrust REO:
SunTrust Mortgage, Inc website claims that all REO is listed with local real estate agents. Below is a link to their REO practices.
http://www.suntrustmortgage.com/reo.asp
First Niagra Bank REO:
The First Niagra website states that REO listings are not currently available but they do list contact information.
http://www.fnfg.com/personal_banking/mortgages/real_estate_o…
Key Bank REO:
No Key Bank REO information is availabe at this time.
Compass Bank REO:
https://www.compassbank.com/appforms/properties/index.jsp
Fannie Mae REO:
http://www.mortgagecontent.net/reoSearchApplication/fanniemae/
Freddie Mac REO:
http://www.homesteps.com/hm01_1featuresearch.htm
HUD REO:
http://www.hud.gov/homes/index.cfm
HomeSales.gov also offers properties offered for sale by the government.
Coldwell Banker REO Division
Coldwell Banker REO Division
Regions Bank Properties
http://realestate.regions.com/servlet/Ore/ForeclosedProperty…
Citibank REO
http://www.citimortgage.com/Mortgage/Oreo/SearchListing.do
SBA Properties
http://app1.sba.gov/pfsales/dsp_search.html
FDIC Real Estate Owned
http://www4.fdic.gov/DRRORE/
Reo Prep.com: (management&direct)
http://www.reoprep.com
Sallie Mae Financial Services Properties
http://www.grpcapital.com/properties/index.html
BB&T REO (Branch Bank and Trust)
http://www.bbt.com/applications/specialassets/search.asp
Beal Bank Commercial REO
http://www.bealbank.com/Content.aspx?ID=13
GRP Financial Services Properties
http://www.grpcapital.com/properties/index.php
Fifth Third Bank REO:
No information is available online.
First Charter REO:
No information is available online.
People's Bank REO
http://www.peoples.com/im/cda/multi_elements/0,,1355,00.html

hey bud, did you buy the list or???
Jim

Most bank owned properties are listed through REO companies that then contract with Realtors. I started working at getting registered with REO companies early this year. And then the BPOs started! I completed over 50 BPOs in the last few months. The good news is that all my hard work has started to pay off.

So for this year I've listed 3 REO properties and I have 5 more that 3 different REO companies are indicating they will ask me to bring on the market in the next few weeks. We (meaning "I")have to get the properties re-keyed, utilities turned on and some cleanup taken care of first.

It's not a list of lenders but check out http://www.learntolistREO.com for a list of REO/BPO companies.

Good luck!

What I was referring to was the Asset Manager list that is sold by a company called REO Intelligence. I bough some of their company listts and have found them to be very accurate and helpful. The info is not outdated because they keep it updated regulary.

If i can contact each asset manger in a given REO department as opposed to just the REO department itself it makes a huge difference. i have dome both and this way has a much higher success rate.

Hi Jake,

your take on the Lane Guide is correct - to a point. They do have REO departments listings nationwide. They do allow you to search lenders ALL OVER the country which lend in your state. That saves time and keeps me from contacting lenders which have no contact in my area.

As far as individual names? I have used list like that and you'll find that those people have left the company or they get a lot of calls for "Mr. Smith" and they are automatically directed to the "audio round file".

Sure you can surf the web, but I find that my time is too valuable to pawn through thousands of webpages when I can pull up a list of 400 lenders in California or Nevada or Wherever in a second.

Thanks for the reply and ideas!

Isn't laneguide just the general contact info to the REO department? It doesnt give you actual asset managers to contact. You can find the info in laneguide by just going to each company's website cant you?

The asset manager direct contact info is what you want so you can contact them directly. If you just contact the REO department in general your info will most times be lost in the shuffle of thousands of other agents doing the same thing.

Hi John,

REO Department contacts? You need to check out Lane Guide try http://www.laneguide.com. They have a national database of lenders and index REO departments by states lending or servicing loans in. Check out the CD version, it is what I use and it has a form letter that you can modify and send out directly. I think it is under $200 and is updated monthly.

Some good primer tips? Check out http://www.realestateproguide.com, Margot Murphy has a series of webinars on REO brokering, Short Sales and BPO. I think she has a free webinar on REO marketing on her website -- check it out -- some good tips there. That's where I found out about the Lane Guide.

I've said this over and over in previous posts.... The F-word is for the novice or average frustrated investor. What makes people think that putting an offer on a foreclosed house is going to get them the best price? You can count the number of TV ads promoting a system that teaches how to buy foreclosures.... That makes 50 other people dropping offers at the same time, at a price that was already "market".... That's just crazy talk. You want a deal, ok I can understand that but you are not going to find it with a foreclosure without one of two things 1. cash and personal connection with a REO manager or 2. a overpriced offer that you beat 15 other people for.

It's easier to knock on a door of a house that needs repair and say "my wife and I are looking for a home in this area and yours looks cute from the outside". Do you know anyone selling in this area? A hand written note works well too. My closure rate is almost 70% on the notes.... And you get the best deals with no competition.

Good morning, John. As a Sacramento Realtor I provide that to my investors and home buyers that ask. So, if you have Realtor working with you, just ask them and if don't, feel free to contact me. Would love to help you.

Your profiile describes you as a Real Estate Pro - Are you an agent seeking to list? Or an investor seeking to buy? If you are an agent you can subscribe to Metrolist and search specifically for REO's - If you are an investor you can contact any of the Sacramento agents who can get you these lists of REO listings.

If you are an agent and you are asking us how can you become a listing agent for banks. I have to tell you, they like to use agents that have a lot of REO listing experience already.

Hi John. I am also in the Sacramento area. I can give you more information about what I know but I would prefer if you'd contact me via e-mail. I can tell you that there's no magic bullet answer. It's a lot of work and some luck is involved too. Please e-mail me through the website link below if you'd like to know more.

Hi, John. An agent in my office is getting a lot of foreclosure listings from lenders that he has done business with over the past few years. It appears that he is be rewarded for all the business he gave them - that's my guess!