I pursued 3 types of companies to start listing REOs.
#1 BPO companies.
BPO companies only assign BPOs to Realtors, then they submit your completed report(s) to the investor/bank/lending institution that ordered it. I've completed a lot of BPOs for SummitValuations and they will never send me an REO listing. However, SummitValuations will pass my name along to their client(s) that order BPOs. So if you do consistently good work for BPO companies they forward your name on to the companies that actaully need to assign their REO listings.
#2 REO Companies.
REO companies companies are next. National Default Servicing LLC (NDS) is one that I work with. NDS orders their BPOs through SummitValuations and they assign REO listings to agents that complete BPO work for them and are located near the REO property.
#3 Banks and Lending instituations
This is the third type of company. FannieMae, WellsFargo, B of A and any other institutions that have portfolio loans are examples. Some of these will find agents in their own broker network to complete BPOs and list REOs. Others will contract with a BPO companies to find Realtors to complete their BPOs. It's case by case.
All three are worth pursuing. Completing BPOs is the best path toward gaining credibility in the REO listing world -- and getting your first REO listing.
PS: Check out http://www.LearnToListREO.com
For anybody seeking coaching & training, I'd suggest attending the Agent REO Secrets webinar at Harris Real Estate University, which is focused entirely on how to list REOs, make money from BPOs, and how to become a HREU Lender-Preferred Agent.
There are also a lot of other great free resources online - I'm the volunteer coordinator for the REO Pro agent network, and I see lots of discussion & advice there on a regular basis about REOs, BPOs, companies, and who's got volume at any particular time.
I started by searching for asset managers and banks online. Not easy but I made a couple of contacts. I offered to complete BPOs for each company and soon was assigned BPOs regularly.
I tried to impress asset management and BPO companies with my fabulous BPOs -- not being sarcastic. I worked hard at this after I registered with Homeq and SummitValuations. I got some ideas on making my BPOs stand out from a "BPO strategy Guide" I bought at LearnToListREO.com More pictures, personal contact with the asset management company... etc. Worth it for me becasue I was just getting started. Seemed to make a difference because I was assigned several REO listings. Yeah!