I have had many Realtors ask about getting on the Countrywide's ("CW") REO list. I am also being open about the best ways to get on the list. Keep in mind we are not making it easy. I decided to do some more digging. I asked agents, many who have been approved for years how they got on our list. Well this is how!
This advice is in additions to my points before. ( Read my previous Blog: COUNTRYWIDE REO PROGRAM ) . Prior to this foreclosure boom what the Mitigation Division would do is find agents that worked on previous transactions. For example: A property is listed by an approved Realtor agent for CW. You go out shopping with your client and this listing happens to be the one for your client. You realize this is going to be a difficult transaction so you just happen to know a Countrywide Loan agent. You get your client approved through this CW agent. It turns out to be a difficult process but you do ok thanks to the help of your CW loan agent. At this time (remember prior to the Foreclosure boom) there are very few agents selling REOs. So the CW mitigation team actively seeks new talent. You did well so they call you up. You take on the task and now your on CWs Approved REO list.
Now in today's market the mitigation dept. is swamped. They are coming to look for Realtors. They are relying on us, the local CW loan agent. So think about this. You have buyers, why not show them a few CW REOs that are for sale and use a Countrywide agent (like myself if you are local to me) and after awhile when we have done a few loans together (hopefully short-sales, REOs, and standard business) I can recommend you to management who will be happy because you are giving his agent business through an established partnership. Also hopefully by the luck of your buyers preferences we sell a few REOs or short-sales and get your feet wet. Without previous experience and an already established relationship between a CW loan agent I think this is your best foot forward.
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