Hello all.....Me and my friend and partner went an "Into to REO" class today. Now neither of us were brand new to this REO business, we went mainly because it was taught by the top REO agent in Las Vegas and we wanted to hear him speak. As a matter of fact, we were the only two agents in the room that had any kind of REO listing or BPO experience. The class was so good information that was more geared toward educating the agents that were putting in offers on his 500+ listing, about how the whole REO world worked from the buyer's agent's point of view, but it was good information non the less. During the class he spoke of some of the ways to break into the REO listing business, and the number one way on his list was doing tons of BPO's to get your name out there. He stated that now he does 1500 BPO's per month. Now I know that this is impossible for one person and that he has a team of people doing them for him, but we calculated that out and it came out to right at $100,000 per month!!! That's incredible!!!! An associate did 100 BPO last month (with the help of his wife/assistant) and made $7,000. So take that 7 grand for 100 and multiply that by 15 and you get..........................$105,000!!!!! Take a 5 person team, pay them all $5,000 per month (a good salary) and that's 25,000 out to the team...and 80,000 in your pocket!!!!!
How you like them apples!!!!!!
Bryan Knight in Las Vegas Nevada, Real Estate Consultant 702-845-8435
Check out Tales of a Las Vegas REO agent.
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