How can I get REO listings being a new agent ,-in California .?

Asked by John S, 91709 Sat Oct 31, 2009

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5
Larry Hodel, Agent, Chino Hills, CA
Sat Sep 15, 2012
John, I've been a REO listing agent for a number of years and have had abut 70 listings. In my humble opinion it is virtually impossible for anyone to get on board with an asset management company to get REO listings at this point. The window closed abut 3 to 4 years ago and they now have all the agents they need and hundreds of agents are chasing asset management companies that may have declining inventories.
0 votes
Cameron Novak, Agent, Corona, CA
Thu Apr 12, 2012
The 64,000 question. There is much competition for REO accounts right now as you can probably imagine. Additionally, the banks are looking for experienced agents for their REO accounts.

Start selling and build your reputation for getting the job done.

Good luck
0 votes
Kawain Payne, Agent, Seal Beach, CA
Mon Mar 26, 2012
Try placing your lic with a broker that does a lot of REO business. They may allow you to assist on some listings. You may get some experience and help making key contacts with assest managers.

I tried joiningg some REO platforms. I spent a lot of money and got nothing. I found that most of the assest managers are assinging listings to brokers they already have a relationship with. Sometimes they may give one broker 50 listings in one month.

Some banks claim to be implementing distance requirements, meaning they will assign listings to brokers/agents within a few miles of the property. If they do this new agents/brokers may have a chance at getting listings.

Best Of luck to you!

Kawain Payne, Realtor
0 votes
Leticia Hixs…, Agent, Chino, CA
Fri Jul 23, 2010
I would try forclosure.com, but usually the mls, is accurate as well.
0 votes
Maria Center, Agent, Middletown, OH
Sat Oct 31, 2009
Build your experience through first completing BPOs and network, network, network. It's a lot of work to get started but can be a great niche that has lots of rewards.
Web Reference:  http://www.askaboutreo.com
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