How do I get listings or BPO work from lenders?

User login

Member Directory

Location:

County:

Categories:

Enter the code below:

How do I get listings or BPO work from lenders?

Submitted by Jeff on Thu, 04/24/2008 - 11:30pm.

How do I get started doing REO's? Where can I get more information on becoming an REO broker?

Comments:

Submitted by Sean on Thu, 04/24/2008 - 11:31pm.

Like all other clients,

Like all other clients, getting bank clients is a matter of relationship building.

If want to reach a specific bank we'd recommend looking into the Lane Guide (www.laneguide.com) a directory of bank and lender contacts.

Many REO Brokers get their start and introductions to banks by doing BPOs (broker price opinions), or working with smaller local banks and lenders where it is possible to meet management in person (very rare these days).

Here are some other resources to look into:

National Association of REO Brokers - NRBA.com
Five Star Conference - FiveStarConference.com
REOBroker - REOBroker.com
REOConnection - REOConnection.com
REOMAC - REOMAC.com
REONetwork - REONetwork.com
REORedbook - REORedbook.com

Submitted by Anonymous (not verified) on Fri, 05/30/2008 - 4:20pm.

Have you been sucessful with

Have you been sucessful with any of the listed companies? I'm very interested in getting connected with some Asset Mangers and becomming an approved vendor. Any assitance with this would ge appreicated.

Linda R.

Submitted by cdelgado on Tue, 09/02/2008 - 8:10am.

I started searching for

I started searching for Banks and Asset Managers back in January. I purchased a product called REOShortcuts.com for $99 dollars and i now have 7 accounts and sold two houses last month. I made my money back in BPO's in 1 months. REO's are a lot of work but we are dealing with motivated sellers!

Good luck,

Christine

Submitted by Pbuschur on Sun, 05/04/2008 - 10:33pm.

Countrywide now uses REO

Countrywide now uses REO trans.com to track all of its transactions you will not get any assignments from Countrywide on this site as you have to already be an approved agent for them to list properties with you. They do say that it gives exposure to banks looking for BPO's and you may possibly get a listing out of it.

Submitted by Sean on Sun, 05/04/2008 - 11:58pm.

Here is some feedback on REO

Here is some feedback on REO trans. Note that there are a lot of these REO outsourcing firms out there. Most promise listings in exchange for doing broker price opinions (BPO's). Note that a number of the folks in the feedback link above say they got paid zero for the BPO's they did. Seems to me going rates are in the $75-150 range.

Any of our experienced REO brokers have any good advice for those looking to get started?

Submitted by Corey (not verified) on Wed, 07/30/2008 - 9:05pm.

Check out AssignREO.com a

Check out AssignREO.com a free network of REO professionals who list and sell REO properties nationwide.