How can I get REO listings from an asset management company or bank?
Saturday, February 6th, 2010 at
12:27 pm
I am a very skilled realtor but I want to get in to REO listings… can anyone help me or give me some leads in northern California
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Tagged with: management
Filed under: REO Management
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Basically-you would have to cold sell yourself to individual banks as most have realtors they deal with and from there the house goes to multiple listing, You would have to cut someones throat commission and service wise. This will be tough business as most banks are not motivated to move these properties because of the federal bailout and qualified buyers are aware of the state of the market and low-balling everything creating a flood of inventory and stalemates which depresses the value of everything..
I specialize in REO’s and HUD’s here in Texas. What I do is on the MLS if you go to add fields. Add miscellaneous to your search. From there you can Click on miscellaneous and add HUD and Lender owned properties to your daily search. Then daily you can do a search on the list and be able to pass to your clients. Just give them a heads up that the good deals are usually bid on within 2-5 days. Luckily the good ones follow up with a multiple offers addendum so that if you are not lucky enough to be the only bid(winner) you have a chance of revising your bid. Any other questions look me up on activerain and we can talk strategies.
Good Luck
Adan Aguillon, Realtor
Keller Williams Realty
San Antonio Texas