Since you are an agent I assume you are trying to procure foreclosure listings. Your broker can filll out applications on the websites of HUD, BidSelect, HomePath and foreclosure management companies, etc. to become an approved broker. On some of them the agent can complete the information with broker approval. You can also contact banks and servicing companies to build a relationship. You can also call on credit unions to see what you need to do to market their listings. Some of the credit unions like Vystar have their own realty division that markets their foreclosures. Certain realty companies in each area have an already established connection, so, you might want to interview those companies and check out the possibility of transfering your license to them in return for them supplying you with the foreclosure listings to market. They might be needing some help now.
If you are a buyer:
l REO/foreclosures are listed on your local MLS. Find a Realtor you feel comfortable working with and have them set you up on auto-email so you will be one of the first to see the new listings. If it is a government foreclosure (FHA/VA) a real estate associate has to submit the offer any way. Your Realtor can show you any home on the market regardless of which company or agent has it listed. That way you can set aside 2 -3 hours with your Realtor and see the foreclosures back to back.
Don't limit your search to just foreclosures. The most important thing is that the home meets your search criteria as far as price, condition, location, etc. It is true that in most cases the foreclosure may be the lowest price but it may not be in the best condition. If you have to do $35000 in repairs this will drive up your total investment in the property. Have your Realtor show you everything that is in your price range. They will let you know which ones are foreclosurs, short sales, and seller owned. That way you make an informed decision on your purchase and there all listed on MLS.
Brenda Gravitt CRS, GRI
Coral Shores Realty
I would like more information on How you get to BE an REO agent when you are not a Broker - so I will be following up. :>
Margaret Woods, Realtor
Keller Williams Clarkston, MIchigan