Get more Reo Listings
The most frequently asked questions among all agents today “How do I get REO Listings”. There are a few ways you can do this and results will depend on the agent’s tenacity and determination to really become a force in REO’s.
The first thing you need to do is sign up on a ton of sites. The trick here is that you must follow up with all the sites you sign up on and you must also be persistent. Many agents tell me that they signed up for 40 sites two months ago and have not seen one single order. They will then admit that they didn’t call the asset managers after signing up or attempt any other form of solicitation. Remember that these asset managers are very busy and you just coming to them is often half the battle. Follow up is really the key here and make yourself known as a full time hard working REO agent.
The other thing that I always recommend is to do extensive research in your area. I know it always seems that REO agents are too busy to share some knowledge but every now and then you will find somebody that just loves to share great information. Agents in your area will know which asset managers are working and which ones are not. Agents in your area will know which banks are slow paying and are difficult to work with. These qualities will vary from state to state and from region to region. Great informative sites like active rain are also great because it’s a community of like minded people willing to educate each other. Here alone you will find tons of great free information on how to crack into this business. Keep your eyes and ears open and you will find that there is an abundance of resources out there for you to enjoy.
Another way to get your foot in the door is with some inexpensive marketing tools. Simple email brochures, mailers, and even cold calls have been proven to be very successful. Thinking outside of the box will get you attention which will in turn give you a chance to prove yourself. Even if you landed only one account using one of these techniques, it would be worth all the time you put into it. Often times just showing that you’re motivated enough to market to these asset managers will end up landing you work.
The hardest part is truly getting that first order. Then you will provide quality work and you will end up with more REO business than you ever wanted. Be ambitious and never give up!
Thomas Moore
REODB Inc.
702-580-0125
It is a great business REO for listings heck our office stays so busy in general I guess hire few other agents handle that side....
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