I have to reiterate the comments already posted below. The only other comment that I can add is to be consistent with your follow up. The hardest part is going to be getting your foot in the door. The long term relationships and/or company owned businesses have established presence.

The sources, as stated below, are both direct departments within the banks, and rela estate agents who represent the banks. I do caution you on searching real estate companies. In today's market, a number of agents who have not had long term experience in dealing with REO's are now trying their hand at it. In addition, the banks are also utilizing more agents because of the inventory available. Therefore, not all of the agents that are advertising foreclosures are seasoned verterans of the business.

Good luck and let me know if I can be of further assistance.

Jason Gaia
Prudential Collins-Maury, Inc., REALTORS
Office: 901-751-4357
Company: 901-259-8500 x 1831
Jason@JasonGaiaTeam.com

Alicia,

All the below are good resources, but in the day of so many REOs it can be so hard to figure out who is doing what business. So many times, one bank or secondary REO companies are now hiring more than one firm to do their listings.

My suggestion is go with the smaller intities. The larger ones have their own guys in place and I know from the 3 large banks we represent - they haven't changed in 10 years. You will be barking up the wrong tree........However, by going with the smaller ones or secondary REO companies - they put the burden upon the agent to contract out this.

Now, how to find them - go to the paper on Sunday, check out the property transfers. Make a list of the bank owned properties. Then either search (google) the company's website for contact info or research who the listing agent was and contact them. Ask to give a bid and if they are friendly folks ask what ball park they have been paying. In most cases, the agent must pay for this out of their own pocket with the smaller REO companies and then get reimbursed. So, you see we are all about not having to shell out a lot of up front money. I have in the past had over $5,000 out awaiting for reimbursement from a listing (cleanout, repairs, rekey, grass cutting, electric bills, etc.). That's why our team prefers dealing with the larger REO/Banks, where they have their own crew established.

I admire a hardworker and it sounds like you are willing to do what it takes. The very best wishes to you!

Jo Shaner
Lipsey/Shaner Team LLC.
Keller Williams Realty

Alicia,
You won't get all of the Realtor that work in bank owned. Only the ones that have paid extra to Realtor.com to have their info shared. It is a great place to start though. If you see a foreclosed listing....call the listing agent and try to develop a relationship. Good luck!

I have to agree with Gerald. But, to go a little further, you can google asset managers or management and get some companies to start contacting. I know that Keystone actually hires the cleanout companies directly instead of relying on the Realtor so going straight to them would be better.

A lot of you Realtors who do forclosures will say so on there websites so, once again, I would start with the Internet to identify the ones who work with banks. You can go to Realtor.com and in your search for homes be sure and check the box that says your looking for bank owned homes. This will give you a list of bank owned homes withe the agents contact information.

I hope this is helpful and good luck! It's always exciting to start a new company.

Alicia,

Contact two sets of people; realtors who list these homes and Bank REO departments that manage the sale for the bank.

Gerald Williams
Affiliate Broker
BenchMark Realtors, LLC
901-413-2233
gh_williams@yahoo.com