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UNDERSTAND THE PROCEDURES, GUIDELINES, and TIMELINES OF THE BPO & REO PROCESS........
What is "REO Certified"?
The Real Estate Owned Certification is a designation given to real estate professionals who have completed course work related the BPO and REO process. This course work provides a thorough understanding of the complex procedures, guidelines, timeframes, and tasks the Outsourcers, Banks and Lenders demand in today's REO Bank Owned Market. Through comprehensive training and the knowledge obtained attending the (BPO & REO Simplified) REO Institute courses, "REOCertified" professionals are able to provide solutions for the Outsourcers, Banks and Lenders on foreclosed and bank owned properties/assets.
Are you a real estate professional, agent or broker, curious about BPO's (Broker Price Opinion), and wanting to find out how doing BPO's can enhance and further your real estate career?
Once professionally trained, established, and vetted with a few BPO companies, a real estate professional can earn a consistent and reliable income performing BPO's.
Performing BPO's can establish a powerful reputation with Outsourcers, Banks and Lenders, and some BPO assignments may lead to receiving listings through these clients.
As a real estate professional, once you have learned the basics of how to value distressed properties, you can then move on to understanding the Banks REO Systems and Procedures:
It is extremely important to understand the Banks systems and procedures before you attempt to enter the REO arena.
Through training, the real estate professional will be learning new terminology to successfully obtain REO accounts from:
Asset Management Companies
Mortgage Insurance Companies
Statistics state that a foreclosure occurs every 13 seconds nationally. There are 3 million to 3.3 million projected foreclosures per year until the year 2013/14. The developers of the "REOCertified" Designation believe that the real estate professional can obtain the tools necessary to succeed as a BPO/REO Broker in the future.
The "REOCertified" designation is recognized by Asset Managers as providing real estate professionals with superior REO training & knowledge.
The REOCertified two course program is the most important and successful education a real estate professional can find in today's distressed market.
There is a growing nationwide network of thousands of real estate professionals who have received the"REOCertified" designation. After completing the "Income=BPO Simplified class, these professionals are changing the way BPO's are performed, by applying the training, knowledge, and education received to more accurately value properties. Not only do they understand how to place value on properties, but they also comprehend the role BPO's play in the REO process. Simply put, the "Income=BPO Simplified" course is superior to other educational opportunities being offered elsewhere.
The second course, "Income=REO Simplified" created and developed by the REO Institute, moves into the world of REO and explains the procedures, expectations, and demands that Outsourcers/Banks require in today's market. The mystery of what REO brokers do is covered step by step, so you leave with a clear understanding of what to do should you choose to work in the REO arena. We also explain the mistakes, pitfalls, and obstacles that we have encountered over many years of experience as REO real estate brokers. We share our experiences and the REO stories that the traditional real estate Broker can identify with.
ONE OF OUR "REOCERTIFIED" DESIGNEE'S SAID IT THE BEST: "When solving the REO or Foreclosure problems in today's distressed market, the day will come when REALTORS and Industry professionals are recognized."
By completing the REO Institute's comprehensive training in the BPO & REO Simplified courses, "REOCertified" designees will know how to accurately value distressed properties and have a total understanding of the complex timelines, guidelines, and tasks that the Outsourcers/Banks/Lenders demand to perform the 3-M's (Marketing, Management, and Maintaining). You will know how to liquidate REO and Bank owned properties/assets in the shortest period of time with the most profitable margin for your clients, in today's distressed market, if given the opportunity.
What is "Short Sales Certified?"
The Short Sales Certification is a designation given to real estate professionals who have completed course work related to the Short Sales process. This course work provides a thorough understanding of the complex procedures, timelines, guidelines, and tasks the Banks, Lenders, and Outsourcers, demand in the today's short sales or distressed market. Through comprehensive training and the knowledge obtained attending the Short Sales Simplified REO Institute course, "Short Sale Certified" professionals are able to provide solutions for Sellers, Buyers, Banks, Lenders, and Outsourcers on Short Sale properties/assets.
"Short Sales Simplified"
Topics covered include:
The short sale prospect
Gathering the correct property and seller's information
The importance of correctly pricing the property
Detailed review of the short sale listing and submission package
Working with the Loss Mitigation Department
Marketing the short sale listing
Common problems and pitfalls
Step by step review of the short sale contract process
Negotiating and working from contract to close
Overview of important short sale legislation
The Short Sale process is complicated and requires brokers to have the knowledge and understanding of the procedures, guidelines, timeframes and expectations that lenders and sellers demand from real estate professionals in today's market conditions. Attendees will have the opportunity to thoroughly learn the short sale process from A-Z and though the eyes of a Short Sales Broker. Upon successful completion of the course, you will earn the "Short Sales Certified" Designation which will demonstrate to sellers, buyers and lenders that you have the proper tools and credentials required to handle these types of difficult transactions.
Less than one percent of the homes at risk for foreclosure are approved by banks for short sales.
Only 40,000 short sales were completed nationwide in the first half of 2009.
Only 8-12 percent of the homeowners who initiate a short sale actually succeed.
Major Banks claim they have added staff to handle the increased volume of customer inquiries about short sales.
JP Morgan Chase says it has hired 5000 new employees to handle the flood of calls.
Bank of America, which services 14 million mortgages, says it has also invested in building capacity, but the bank is reportedly under fire for outsourcing much of the call center work to India. (I think this may be a spurious allegation - I haven't ever been connected to an Indian call center during many months of dealing with B of A).
The "Short Sale Certified" designation is recognized by Banks/Lenders/Outsourcers as providing Real Estate Professionals with superior Short Sales training & knowledge.
The REO Institute of Colorado REOINSTITUTECOLORADO.COM
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.