Foreclosure in Phoenix>Question Details

MrPrincipalR…, Other/Just Looking in Phoenix, AZ

I need an way to contact Asset Managers to the Major Banks, anyone know how to get a list?

Asked by MrPrincipalReduction, Phoenix, AZ Sun Jan 10, 2010

We need to speak to Asset Managers for the Major Banks, BofA, Wells, Chase, Citi, GMAC, etc, how does someone get this phone number or email list?

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31
Deborah Madey’s answer
Kent,

That's too bad....because many REO agents should be fired for not answering their hones, full voice mails,not returning calls, etc. Because there are no lockboxes or combo lockboxes, showing appts depend upon the ability to reach the REO agent.

It's too bad that the asset managers do not care to follow up and find out how poorly some listings are serviced. If they did, they might not delete those emails. Some REO agents provide minimal services because they know there is no threat from competition,
5 votes Thank Flag Link Sun Jun 27, 2010
The agent is right about many REO agents do very little. I have been an REO agent and unfortunately the agents that get the majority of the listing don't get signs up and don't answer their phone they even warp their BPO's so they can list at lower price to sell faster.
Flag Tue Mar 1, 2016
Its too bad you have no idea about handling a REO Listing. If you did then you would know that we do a lot of work on them. So if you have never listed or worked on a REO you should not have anything to say. Try on my shoes for a while, before you start throwing stones. Only ignorant people will have something to say if they don't know what is going on. Not to state the obvious.
Flag Mon Apr 14, 2014
Deborah Madey, Real Estate Pro in Brick, NJ
MVP'08
Contact
Look on the MLS for other REO homes from Bank of America, that are already listed. Call up the agent representing the BofA listed home, and tell him you want to make an offer on a home not yet listed.

Asset managers find REO agents on the website by searching in the same market area as the reo listings they need to assign. http://reohomes.org/bank-of-america/
6 votes Thank Flag Link Wed Jun 10, 2015
For JP Morgan Chase REO Details: http://chasereo.com
Flag Thu Jul 7, 2016
I recently purchased a REO Contact List that included over 1200 contacts. It's a great list and it includes emails, direct contacts, web, address, and phone number. I'd be happy to pass on the information. you can email me: debera@chartwellbiz.com. I've closed a couple of deals, so I'm happy I purchased the list.
3 votes Thank Flag Link Tue Dec 6, 2011
HI Bebe. Do you know of a current list? Noticed this posting was from 2011. Thanks
scott@ibuymilehigh.com
Flag Fri Sep 9, 2016
HI I am a real estate broker in north east PA and try to contact some asset managers to get to get some REO business. I saw on a blog that you'd be willing to share this list. I would really appreciate it. Thank you in advance.Faith Sarisky faithsarisky@gmail.com
Flag Tue Aug 30, 2016
hello im a newbie to this and trying to make an effort to flip houses please email me
a copy to my email kerry_tranquillus@yahoo.com please and thank you. I am located in Jacksonville fl
Flag Tue Aug 23, 2016
I also purchased a list and it does not have the local banks I need. I am looking for contact information for US Bank or Caliber Home Loans. Any help would be appreciated. My email is Kathy@kdocnj.com
Flag Sun Aug 7, 2016
Do still have that list i would love for you send a copy to restorationgrp@yahoo.com. Thanks
Flag Tue Jul 26, 2016
My name is Jessica, I came across the message you posted in Trulia regarding Asset Manager List, would you be able to share the information perhaps we make some type of deal, thank you. Look forwarding hearing from you.

My email is jessica.fonseca000@gmail.com
Flag Sun May 1, 2016
May i have a copy of your list? naomilwright@gmail.com
Flag Tue Apr 12, 2016
Please send us a copy to at shortsales@reo-nw.com
Flag Fri Apr 8, 2016
I would love a copy please and thank you
Flag Wed Jan 20, 2016
sorry i am looking at a bank owned home in pa not florida
Flag Tue Sep 1, 2015
http://www.bestreolist.com has a full list with phone numbers, and email address of asset managers
2 votes Thank Flag Link Thu Apr 14, 2011
Thats link is no longer valid
Flag Tue Dec 29, 2015
BS
Flag Thu Jul 30, 2015
The banks are now changing the area's in which they work. Some companies are every 3 months and others are every 6 months. Writing to an asset manager is a complete waste of time. They do not want you to write to them ,l they dont have time to look at your letter and will not give out work based on a letter asking for listings. It may actually get you off their list.

Asste managers work with a team of people, there are processors, preporty preservation specialist, listing specialists, a specialist to negotite offers and a speicialist that takes care of the closings. the team will pick a realtor based on experience and a grade form what they have done in the past. it will be for completing bpo's and doing a great job, it will be from a refferral from another bank or company they do business with . they just dont pick strangers, they pick who is known to them by their hard work. Bpos are the key. Any money paid ofr a list is a complete waste of time and money.

Once an agent does get a listing and does a good job, they tend to stick with that agent, some companies only allow each agent to have 4 or 5 agents at a time and others will give everything to 1 agent until they cant handle it anymore. so sign up to do bpos, your name will get known, the bpos are graded and you will be assigned a rating, when they have an opening they will call on you. However it is like coming to the baseball game in teh top of the ninth inning, you missed 8 innings already, most companies lists are full and they are not taking on new agents. Earn you way in, becuase the list wont buy your way in.

I
2 votes Thank Flag Link Wed Jun 30, 2010
As a matter of fact I know a great place to buy an REO asset manager contact list for all the national banks and lenders, and it's only $99.

http://reoindustrydirectory.com/reo-bank-list
1 vote Thank Flag Link Tue Dec 6, 2011
It's hard to get a list and even harder to get their attention because they don't take solicite calls. They want to find YOU! That's why you need to create a profile (it's free) on http://www.reoindustrydirectory.com/ and list your full REO resume with experience, associations, any training or REO certifications you may have, as well as your full contact info. Asset managers find REO agents on the website by searching in the same market area as the reo listings they need to assign.
1 vote Thank Flag Link Wed Mar 16, 2011
Thank you for the information, we will create a profile...
Flag Wed Mar 19, 2014
Try getting BPO's to start and check out reomac.com
Web Reference: http://www.SearchAZmls.com
1 vote Thank Flag Link Mon Oct 25, 2010
Here is an excellent place to be face to face with Asset Managers and other broker/agents that can refer you to them. Attend the Five Star Conference in month in Dallas, TX. It is held at the Dallas Sheraton. It will cost you money, but the return for agents is a wealth of information.

Everybody sells cheap list that you can get for FREE if you searched long enough..... Go to the real deal Sept 19-22th. Hope to see you there!
1 vote Thank Flag Link Thu Aug 19, 2010
The best way to find out asset managers is to complete BPO's for any bank you may want to work with. Let it be known that you are looking to provide that service. After you prove yourself with them, they may offer you a listing and then you will discover asset managers.
1 vote Thank Flag Link Thu Jun 24, 2010
Mr. PrincipalR,
Depends on what you want your outcome to be? If you are looking to get help with Mitigating a loan, then that is one thing, if are looking to solicit REO's you will not get very far. Any list you get will not be current. What banks are doing for the REO's is using REO Vendor sites. It is monster.com for realtors type. REO Vendor is one choice, their annual fee $199.00 (this is pretty good). You upload your resume and E&O insurance, and what you would specialize in. I have been in the Property/Asset Management since 1990 and cold calling will not work. We screen. Get on as many of the REO sights and go to as many banking mixers as you can then you will meet that special one that will introduce to the circle. Hope this helps.
1 vote Thank Flag Link Thu Jun 24, 2010
Try REO MAC

http://reomac.com/
1 vote Thank Flag Link Fri May 7, 2010
Simply put.... These banks do not have asset managers that you can contact. They utilize asset management companies to list, manage and sell their reo properties. It is common for the banks to now use more than 1 company and do not put all thier listings withone source any longer. You need to apply with the companies they use in order to get listings. First thing is there is no magic list, do not pay for lists or contacts, you need to start at the bottom and earn your way to listings. Most companies are not accepting new brokers except as on an as needed basis. Once you are accepted in a company, the most common way to earn listings is to complete bpo's. The agents that complete the bpos are the ones that get the listings. In the past there was a ratio of so many bpo's in order to get a listing. Alot of teh companies use a rating system or points system to rank their brokers. The companies are rotating their asset managers so the same manager does not have a state or county for a prolonged time. This eliminates favortism and gifting that was going on. The bottom line is there is no quick way to get listings, you need to put your time in and you will earn listings. If you want to list bank owned properties you need to know the responsibility of this. You will need to have a network of contractors, you will have to manage the properties, you will have to pay for repairs and preservation tasks up fornt with your money and wiat 30 to 60 days to get paid back. You will want at least $5000 to $10000 in a seperate account you can use towards the listings. You have to be ready to deal with evictions, lining up estomates for lawn care, repairs, changing locks and worst, is if something fails on a home inspection get it fixed and paid for so it can close. I hope this helps open you to the workd of bank owned homes.
Web Reference: http://www.ScottSellsNH.com
1 vote Thank Flag Link Mon Jan 11, 2010
Im advertising in http://www.SocalShopper.com magazine and my website is http://www.FieldInspections.com - I am looking to mail asset managers in Southern California about my services.
0 votes Thank Flag Link Fri Aug 28, 2015
Contact REO officers or agentsthat handle foreclosures at any bank.
0 votes Thank Flag Link Tue Jul 21, 2015
Real estate agents can connect with these REO asset management companies to conduct BPOs (Broker Price Opinions) and provide pricing on these real estate assets, which is often a great path towards getting these REO listings.

Reference Link: http://reohomes.org/directory/
0 votes Thank Flag Link Wed Jun 10, 2015
0 votes Thank Flag Link Wed Dec 28, 2011
Hi yes, as a matter of fact I do. REOIndustryDirectory.com sells a list of over 100 bank reo asset management companies, with ways to contact them, and direct registration links to apply for them all as well. It's only $99 and well worth the money!

http://www.reoindustrydirectory.com/ReoListing.aspx
0 votes Thank Flag Link Fri Nov 4, 2011
The best way that I have found was to get one local bank to use as a reference for other banks.

Being that you are located in Phoenix, you could also attend the national REO convention where asset managers meet. Most of the big REO agents attend that convention and the asset managers conduct classes. You just need to stand out...

Blessings!!
Steve Dyer
0 votes Thank Flag Link Tue Jun 29, 2010
REO Preps seems to be a good start.
0 votes Thank Flag Link Tue Jun 29, 2010
Write the asset manager's a letter and ask for their business.
0 votes Thank Flag Link Tue Jun 29, 2010
Any list or contact number you get is likely outdated by the time you get it, with all the turnover in the industyr.

I just did an interview with a former asset manager, and it sounds like it might be helpful. I am putting the finishing touches on it and will make it available for free to my blog subscribers.

-Rob
http://www.bporeo.org
Web Reference: http://www.bporeo.org
0 votes Thank Flag Link Sun Jun 27, 2010
You and everyone else my friend, having a list of asset managers to contact is going to do you no good. Most the the asset managers I deal with have hundreds of files they are working on and if they get an email from an agent looking to get in on the selling side of thier REO business they simply say thank you and delete your email. they are way to busy to be bothered with. Even with the relationships I have we never talk personal stuff all business, bottom line, find another way to get business, sit open houses, find buyers, get short sale listings etc. Good luck it is rought out there.

Now if you want, you can purchase lists they do exist, but again you are wasting your money...
Good luck
0 votes Thank Flag Link Sun Jun 27, 2010
I would suggest you join the Five Star Institute and come to the 5 Star Conference in September, there will be Asset Managers everywhere and you will learn a lot about the Default Industry
http://www.FiveStarConference.com
Web Reference: http://www.come2killeen.com
0 votes Thank Flag Link Sun Jun 27, 2010
I do REO's and short sales. The list these companies often sell you...........well...it is difficult at best to get a asset manager on the phone. Very difficult. Even if you do get one, they are super busy and may not even recall your name after you hang up. It took me years of really hard work to get my accounts and it takes a great deal of hard work to keep them. I have been doing BPO's for years and invest quite a bit in promoting myself. I would start with the BPO's. My very first Broker, 29 years ago told me..................work hard and it always pays off. I have found that to be very true.
0 votes Thank Flag Link Sat Jun 26, 2010
Reo Preps are the quickest route without the work. if you can do the work start doing BPOS to get the inside contacts and work up. If all else fails buyers can sometimes open doors realtors cant...
0 votes Thank Flag Link Fri Jun 25, 2010
Its pretty difficult to just call/email anyone at a particular bank & get business. You will have more luck starting from the bottom & working your way up....start doing BPOs & making contacts.
Unfortunately there is no quick way into the business.
0 votes Thank Flag Link Mon Jun 21, 2010
REOMAC is a trade organization that has many contacts and resources to help you.
http://reomac.com/
0 votes Thank Flag Link Thu May 6, 2010
Deborah Madey, Real Estate Pro in Brick, NJ
MVP'08
Contact
If you are a buyer or seller why woould you need to contact all the different managers?
If your looking for an asset manager for a specific bank just call that bank.
If your looking to sell your own place contact an agent in your area and also contact your mortgage holder too.
0 votes Thank Flag Link Mon Jan 11, 2010
Asset Managers for REO foreclosures conduct their business through Real Estate listing/seller's agents, just as auto manufactures conduct their business through the dealerships. If you want to conduct your own investigative research, you can do so by using internet search engines. However, just because you may be able to locate the Asset Management company name, this does not mean that the asset managers or anybody within those companies will give you the time of day.

-----
PAUL WELDEN
602-503-4010
HomeSmart
Exclusive Buyer's Agent
0 votes Thank Flag Link Mon Jan 11, 2010
Stayaftersh...

I've tried many sites that people say have legitimate phone number for Asset managers. None have proven to be legitimate.

Most agents that have this info. are not willing to share.

Will watch to see if you get any better info. from out of the area agents that don't feel the competition if they share this info. = )
Web Reference: http://kathyweberhomes.com
0 votes Thank Flag Link Sun Jan 10, 2010
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