Foreclosure in 11706>Question Details

Frank Conigl…,  in New York, NY

why do certain realtors get all the reo listings from the banks and fannie and freddie?

Asked by Frank Conigliaro, New York, NY Mon Aug 31, 2009

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It's part of the real estate business. Agents, like myself, who enjoy this aspect of the business, choose to specialize in reo's. It's fast-moving and it's always a necessary part of the real estate market.

I enjoy dealing with banks because it's very dry and to the point. Don't get me wrong, banks and loan servicing companies can be VERY difficult to work with, but all-in-all, it's demanding and I like that.

There is also other avenues for income, not just selling properties.
0 votes Thank Flag Link Wed Dec 30, 2009
I have been a Broker for 24 years.
Agents activly persue that business.
REO business is pretty much a property management business.
They are choosing to make REO's their primary business generally because their private practice was not well established enough when the market changed This is a temporary market. What will they do when things turn around ?
There still are home owners with equity.

I moved to Phx. from Bay Shore & East Islip
Life is GOOD !
0 votes Thank Flag Link Mon Dec 14, 2009
coincidence? corruption? The real question is why are many reo properties absolute dogs, but the better properties are sold without unaffiliated buyers hearing about them until after they close.
0 votes Thank Flag Link Mon Sep 14, 2009
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