Johnny,  Congradulations on your listing!

Hang on my friend, you will probably get bombarded with questions....and I would like to be one of them......please tell me......how?

I have been doing BPO's for about 4 months now and not had one listing.  I am in the Corona area and understand if you do not wish to share too much but any small words of advise would be much appreciated. 

Johnny congrats on your success. Ive been signing up like crazy over the past couple of months as well. Im not necessarily ready for more listings yet and the maintainance required, just want to get my start in BPOs.

Congrads that is good will check out stir crazy blog.

The time to jump on the REO market was about two years ago, before the SHTF. The work you do now will set you up for the next round of foreclosures. Companies are just not looking for new agents.

Johnny -

The post by Mr. Winefield above is not entirely true. I am an asset manager with 10+ years in the industry and over 8 years with one of the largest default servicers in the nation.

We look for new agents every single day. There are some asset managers that seem to use the same agents time after time, although at some point we all need someone to cover the overflow.

Keep up the good work on the BPO's, although you do not want to get caught up in just doing BPO's and not get any listings.

Make sure to start networking where asset managers are looking for agents. The three sites that asset managers are locating there new agents are reo network, reoallstars.com and reobroker.com.

If you keep at it you will succeed. Send me a PM and we can talk more.

Thanks

Congratulations, Johnny!

I've been hearing tons of people in my office who have "given up" because they think that all AM's are "taken".

All AM's are not "Taken", We are always looking for new agents. There are too many properties for the amount of agents.

Keep up the good work and continue to network.

Thanks

I did not mean to insuate the doors are completely closed. In fact I have been picking up new accounts over the last few months.

If you have REO experience you will run into less roadblocks. However, the issue is going to be for those with no experience. Asset managers are under a lot of pressure, especially those that work for Asset Management companies. Our actions as agents can be the difference between a company like EMC switching from one firm to another. Asset Managers know this and are very reluctant to give an agent their first REO. Your best bet is to work in an office with a "team" that does a lot of REO work.

Also, new legislation that goes into effect in Ocitober could greatly reduce the amount of foreclosures.

Don't give up on BPO's even if they dont lead to REO work, it is still good money that adds up.

Thank you Asset Managers for you input.  I too continue to do as many BPOs as I can.  If anyone of you can recommend a BPO company for assignments here in California it would be appreciated.  I am struggling to keep my head above water and have contemplated giving up this business.  However, I believe in continuing to pursue my dream and would like very much to make a difference.  I hope some day to be in a position of success and write a blog about my struggling journey in hopes that it will will inspire those junior to me.  For, my struggle continues.

Cheers.

Great news, Johnny!  I hope it goes well and you end up with plenty more! 

George -

Keep your head up and trying to get REO Listings.

There are plenty to go around and it is only a matter of time.

If anyone is interested, here is the link to my former company to sign up as an agent.

https://re.oomc.com/BusinessPartners/servicing_div_busspart.html

Thanks

Dick -

No worries, I just did not want the new agents to get the impression that ALL asset managers only work with their select group and no one else can get in.

I will work with who ever will sell my properties, If they have 100 years experience or 1 year, I do not care as long as they sell my property and are ethical in doing so,

Thanks

That is really great Johnny. I also found that out when I "jumped in" and took on my first first BPO. Then within 4 weeks that same company gave my my first REO listing.

I found a great list of asset managers on www.reoprofessor.com for a great price.

There were over 65 companies and I started signing up like crazy. Now I complete over 200 BPO's per month and have 40 REO lisListings

Thomas Moore

REODB Inc.

Las Vegas, NV

Thomas - Interesting advertisement...Though I got my list of Asset Managers for free and did my learning on AR and internet for free. I would appreciate constructive comments rather than pure advertisement.

Thanks

Sorry Johnny I didn't mean to come in with a advertisement. This is an actual program that organizes all your REO's and help you coordinate with Asset Managers easier.

A lot of people like yourself are getting into Bpo's and REO's.

I think the readers can really benefit from this program is all

Johnny,

Let me know how can help you out. Do you need some personal contact with any paticular bank? Or need anything else.

I am here in Las Vegas, NV so the Foreclosure market is in full swing. I have been studying hard for 7 years and want to help out anybody that is interested.

Thanks Johhny and good luck

Thomas Moore

REODB Inc.

Las Vegas, NV

Johnny, congrats on your 1st REO listing! and whish you many more.

I am also begining to sign up for BPO's in the search for REO listings and look forward to doing as many BPO's as possible. I just bearly signed up with 2 companies.

Where do I find the FREE list you mentioned? I would appreciate it so much.

I got to say it is wonderful to have people like you in the blogs, very inspirational.

Carlos- I used www.garypedia.com, look for Broker Price Opinion. Good luck, work hard...and be patient :-) You'll come across names and companies when you get your name out in the field.

Johnny- Thanks so much I will start looking into it right away.

Thomas- good to hear this is working for you. Wow 200 BPO's a month is great!!

Could you tell me how to achieve something like that? I don't mind putting in all the driving,time and energy this may require as long as it proves to be rewarding. I'd like to learn the ins and outs of the whole BPO process.

Thanks

Congratulations on your listing!  Persistance and hard work does pay off!

Thanks for your post Johnny,

Congrats on your listing....the hard work eventually pays off

Johnny - I'm new to BPO's, but hope that they are a road to REO listings.  We've been doing them for the past couple months and are hoping to have the same success that you have.  Keep up the good work and we hope to join you soon. 

Hey There,

Came across this BPO Agents Wanted website regarding Banks Needing Realtor's to help with foreclosures.

I checked it out and signed up and there was a lot of valuable information and it didn't cost me a penny
.
So I figured you might want a crack at it! And sent this over to you.

Here is the link:
http://www.bpoagentswanted.com/?signup=1323

Hope you enjoy it as much as did.

Regards,
Eric

There's lots of free lists without signing up. Google BPO's and look around.

Wow congratulations on your success, I too am navigating the many BPO companies out there and have found the same issues as you. I agree that if you do BPO's like you mean it everyone wins.

Forgot to update, but my first listing was sold on 9/16/08. Very excited!

Hooray!!! 1 down, and hopefully many more to go. I have closed my first 2 REO listings and have 2 more in escrow. I started doing BPOs last October, and many BPOs later, its finally starting to pay off.

Johnny, Congrats on the listing!  I interviewed a few months back to become an Asset Manager and basically they told me that how they get Realtors is just how you would interview for any job... and if you do a great job for them then the listings will increase.

Congrats on the listing, i lived in Walnut Creek in the early 90"s when it was a bedroom community, so much has changed there over the years

Congrats on the listing & thanks for the post.

Hard work does pay off...keep it up.