Why go to those REO conventions (not going to call out names) held annually that cost thousands of dollars? At these conventions you will participate in classes that are taught by other REALTORS who are not revealing the secrets on how to actually apply for REO accounts. Here is an opportunity to aquire specialized knowledge from a proven asset manager.
Tony,
Just wondering, do you NOT recommend attending any REO conventions? This would be for an agent such as myself who wants REO business. Or would you recommend getting the certifications (which also cost several hundred dollars) on the REO websites, such as REO.TRANS? Any information would be helpful. Thank you.
Hello Maribeth,
Although taking these courses and/or attending the conventions can be of great benefit to you they are definitely not essential in receiving assignments. I believe the most important part of getting the opportunity to get REO listings is making the connections with these asset managers on a more personal level, in other words put yourself out there and network, network, network. Did I mention network, remember that these asset managers get bombarded by agents at these conventions and they purposely do not have business cards with them in case you ask. How will you ask them for business without saying "Hi I am a Realtor with deep pockets and a team that can handle your REO assignments"???. They are people just like me and you and they want to know how you can help them out as well.
The REO business will be around till about 2015 with a huge wave of foreclosure still off the books and many still to come. There is still a window of opportunity to get into the REO business. So get your networking hat on!
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