anybody knows how to get reo business? I tried several websites, pay thousand of dollars for the past 12

Asked by Rene Bautista, Mission Hills, CA Mon Nov 24, 2008

months an nothing yet, ..Thanks for your honest advise

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Kawain Payne’s answer
Kawain Payne, Agent, Seal Beach, CA
Mon Feb 27, 2012
Hello Realestate18,

I too have tried to break into the REO game. I have spent about $1000 and so far nothing.

I joined Equator, and paid for their Platinum certification. I joined a few directories and signed up with four asset management companies. I have concludes that most of the REO listings are going to a few brokers who have been in the REO business for a while and have well established relationships with the asset managers for the banks. Some bank asset managers assign one broker up to 100 listings at a time. In Orange county where I work we have two or three brokers getting most of the REO business! If you go on Equator and check listings you will see the same brokers/agents over and over. Some banks now claim to be trying to have listings assigned to agents closest to the property. I guess we have to wait and see if they apply this idea, and if so perhaps the door will open for some new REO agents.

Best of luck to you.

Kawain Payne
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