Foreclosures

By
Real Estate Agent with William RAVEIS Realty

I have been receiving a lot of mass emails regarding foreclosures. Each website will email  list of foreclosures for a small fee, however I don't feel that this list will help me to list a foreclosure. Throughout my 2 years in real estate I keep hearing that the key to getting foreclosure listings in to form a relationship with the banks. Question to my fellow bloggers: Does anyone have any suggestions on how to connect with the proper contact at the banks? HAs anyone has a lot of success with foreclosures?

Comments (5)

Steve Dawson
J. Rockcliff Realtors (#01723588) - Walnut Creek, CA

At this point, the market is saturated with agents trying to get reo's.  I am not sure it is possible at this point to get in. At least that is the way in my area.

Jul 27, 2008 01:11 PM
Jim Albano
Prudential Damiano Realty - Little Falls, NJ
Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

It's the old adage that applies here...it's not what you know, it's who you know. I've yet to find that right person. Still looking though....

Jul 27, 2008 01:19 PM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Many banks are capping agents and 20-30 listings so I don't think it is too late to get in.  I heard BPOs were the way but I have done 50-100 a month for almost a year and nadda.  I have one possible REO listing in the next month.

What bites is that many want REO experience for you to apply.  Catch-22 for many of us.

Jul 27, 2008 01:29 PM
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Diane and Bob

What happens when it runs out and they have to get used to a normal market again?

Sincerely

Tom Braatz

Jul 27, 2008 01:52 PM
Thomas Santore Lic Associate Real Estate Broker
Coldwell Banker Realty/Coldwell Banker Commercial NRT - Yorktown Heights, NY
Realtor®-ABR-Land, Residential & Commercial Sa

Hey Bob and Diane,

I have had some listings (foreclosures) over the years, but they came through BPO's. The funny thing is the agents in our area are not getting the foreclosure listings sold in a timely fashion but the banks stay with them any way. Most agents that having ins with the banks are not willing to give any info on how to crack this field.

Aug 05, 2008 03:32 AM