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How can I be a REO agent?

Asked by , Sat Mar 8, 2014

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I am not sure how to become an REO agent.... BUT I do know that the bank owned inventory is at an all time low. There simply isn't enough around to hire any new agents. Agents are being let go every day. That market is gone for now. Hang in there, work hard and become your own boss. Take charge of your destiny. Treat your business as a real business. Dedicate 40 hours per week to work only. Do not get side tracked with unproductive things. You'll be fine.

Best of Luck,

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE lic #01456982
0 votes Thank Flag Link Tue Aug 19, 2014
Its really too late to get on the list for REO agents, most of the ones I know are
hurting as they do not have any to sell
0 votes Thank Flag Link Thu Mar 13, 2014
To register to sell HUD homes, you must:

Sign HUD's Selling Broker Certification forms.
You can do this by following the broker registration link on the Management and Marketing Contractors page for your state. You will need to submit the following forms (below)

SAMS 1111 Broker Application(http://www.hud.gov/offices/adm/hudclips/forms/files/1111sams.pdf)
SAMS 1111A Selling Broker Certification(http://www.myeasytrack.com/userfiles/file/HUD/SAMS-1111-A.pdf)

Attach required documentation, such as:
Copy of broker’s license
IRS documentation
Driver’s license
Utility bill or phone bill

Send forms to the Asset Manager (AM) who will forward the forms to the Home Ownership Center (HOC) in your area. Separate registration forms and signatures are required for each office in a multi-office firm.

After processing (usually in three to eight weeks), you will receive an official NAID number (Name Address Identifier).

Registrations must be renewed annually or when any changes are made to the name or address of the broker.


Your Connection in Real Estate,
Cecil Austria
Solitions Real Estate

CalBRE# 01904990

You're going to love my Facebook!!!
0 votes Thank Flag Link Thu Mar 13, 2014
Find a manager at an asset management company and bend over backwards for them, bring them doughnuts, take them out to lunch, whatever it takes to get in their favor and get that first listing. Then work really hard, as hard as you can, to impress them that you will do a good job.... J.R. Thrasher
(619) 929-0105
0 votes Thank Flag Link Mon Mar 10, 2014
Honestly, at this point in the game, I don't know why you'd want to become an REO agent. Foreclosures are at real lows. The agents in San Diego that flourished during the foreclosure boom are hardly doing anything these days.

My advice? Save your time and energy.
0 votes Thank Flag Link Sun Mar 9, 2014
it varies by the state as they are the ones who license you.
0 votes Thank Flag Link Sat Mar 8, 2014
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