"Pro" Foreclosure Question From A "Newer" Agent

**mazamotuck** · 08-28-2009, 11:38 PM

So I am a newer agent only having my license for about a year now. Been working in my office for about 4-5 years now with my family owning the agency I work at.

Anyways, my point of the post is a REO question. How does the REO agent, the listing agent, become an REO agent. How do they get the listings, the "reputation" should I say to receive these listings? Seems to be the only way in the real estate market these days to still make the amount of money that the agents were making 2-4 years ago when the market was booming. I know it's not a simple process, but I was just curious! Thank you!

**Greg** · 08-30-2009, 04:57 AM

After you do a bunch of BPOs for the right company then they might send you a listing. Start doing a bunch of BPOs for a bunch of companies and get in line behind everybody else who wants to do the same thing.

**Mike Taylor** · 08-31-2009, 02:35 AM

Yep, I think if you don't have the relationships by now you have missed the gravy train. This forum and others have sections to help you out with this, but you are late to the game.

**mazamotuck** · 08-31-2009, 09:36 AM

Well, like I stated, I was just curious. I was sure the process was more of a "get in line". Thanks

**Codythebest** · 08-31-2009, 05:15 PM

You have to know the banker. There is no reputation to have or even the ethics to handle. Here, is East TN, with one exception, REO agents are not polite, couldn't careless about you, your questions and/or your showing, and invite the high school buddy, who became the local bank manager, for BBQ every sunday...

**mWoods** · 12-11-2009, 06:54 AM

Call the banks. The larger lenders are probably a long shot because it's almost impossible to reach a real person some days. Maybe try to reach out to some local lenders and see where that gets you.

**PreviewOrangeCounty** · 12-11-2009, 07:00 PM

Yes, try to build relationships with a few local lenders and they may sign you up with their bank's reo division. Of course, giving buyer pre-approval leads to these local lenders will give them motivation to get you in with the bank as they will in turn receive more buyer leads.