real estate: So, You want to be an REO Broker...
- 02/28/07 08:58 PM
This is my third lap, if you will. Having been in the business since 1978, I've seen three full market cycles. The slow cycle for most agents comes when homes stop selling overnight and inventories creep skyward. This is when you need to ramp up for REO's. (REO = Real Estate Owned) This is the shorthand used by the industry to discribe the inventory of property owned by the financial institutions. Most of which come through foreclosure. Being an REO Broker can be very rewarding. One such individual in Los Vegas claims to hold more than 400 properties that are listed or … (31 comments)
This is my third lap, if you will. Having been in the business since 1978, I've seen three full market cycles. The slow cycle for most agents comes when homes stop selling overnight and inventories creep skyward. This is when you need to ramp up for REO's. (REO = Real Estate Owned) This is the shorthand used by the industry to discribe the inventory of property owned by the financial institutions. Most of which come through foreclosure.;)
;)
