Foreclosure in Los Angeles>Question Details

Victor Plana,  in Santa Barbara, CA

As a realtor, how do I get banks/lenders to chose me to market their REOs?

Asked by Victor Plana, Santa Barbara, CA Wed Apr 15, 2009

The realtors who are handling the REOs in my area are doing a poor job marketing them, in my opinion, and I believe I could do better, but the lenders seem to send all their REOs to those few select agents---how do I get the lenders to look my way?

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I think that both previous answers are correct...meaning, most of the time there are previous relationships in play. If the district manager of a bank sees that a certain REALTOR has brought a lot of business and always has been on top of things...the district manager will remember that person when they need help...hence when banks needed help, those agents were asked first.
However, there are always other ways...and in this case, I believe there are three: meeting with bank people, attending classes and applying to sites online.
0 votes Thank Flag Link Sun Apr 19, 2009
They usually choose agents who have had clients get loans through them
0 votes Thank Flag Link Sat Apr 18, 2009
Prepare your professional resume and submit to individual lenders, preferably by appointment and in person. Also have your marketing plan in place and be prepared to show samples of your listing and marketing approach both print and electronic. Include a few success story sales in your portfolio. Remember to keep in touch with a drip campaign of emails,phone calls, mailings where practical.
0 votes Thank Flag Link Sat Apr 18, 2009
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