The hot topic on the street, how do I get these REO Listings, where do I begin, what does it take?

All top REO Agents will agree on a few things.  REO Companies accepting Applications will usually look at Equator.com and/or REs.net and REOVM.com to see if you are a registered agent on the system.  I wouldn’t suggest paying money for any other sites besides these.

Keep in mind, some of the asset managers are also looking for agents to bring into the soon to come pre-approved short sales.  A Few banks are testing these out right now and they will be assigned the same way REO properties are assigned.  Typically through equator or res.net

A few tips:

1. Start networking and build a working relationship with local loan officers in your area that WORK for the bank you want to market REO Listings for.  Banks like, and typically have, recapture rates.  They want to hold a percentage of loans on the REO’s they assigned to you.  Having this working relationship with one of their lenders and sending them business on a regular basis will possibly place you on their RADAR!
2. Get a good resume.  Want to learn how to build a resume (in fact have the resume built for you and your applications to over 80+ companies submitted for you), check out REOWarrior.  This is a service offered by a former Asset Manager.  The one person who knows what you need to do!
3. Attend any local NAR or Local Association conferences where bank asset managers will attend to teach you about the market.  Make sure again you have that resume and a special business card outlining your professional services and your unique, yet powerful marketing system (a very cool tool they love and are amazed by is Text Marketing) – Check out Mobile Marketing for Real Estate Agents.
4. Be prepared to spend some time working at this before you get any listings or even contacted by an asset manager and/or bank.  Some agents got listings after a few months, some spend a year or two networking and applying.  It varies on your area and the needs of the asset managers.

Keep this in mind.  Don’t be discouraged.  The banks are switching things up.  Too many big REO agents got TOO Busy.  They had 50-150 listings per months and their performance dropped dramatically.  Banks are starting to put limits on the amount of homes any one agent can have, they are also placing a zip code radius around their registered address (A lot of banks have reduced this to 5 miles!!).  What does this do?  This creates an opening for new agents to get into the business!

1.  Look No further then getting help from a Former Asset Manager.  See what REOWarrior can do for you (From Registering you to 300+ Databases for REO and BPO work, to Full on Coaching and assistance. REOWarrior is Here NOW

2. Basic REO Info – From a List of Banks to Apply, REO directories, Tips from the Pros and More.  Check out Anthony Aires’ Program – one of the top programs on the internet for the past few years – REO Listing Pro

Get your Accounts setup on Equator and Res.net.  Don’t go out and start paying to register with so called Asset Management Companies (unless they are a Main Company featured at the Fivestar Converence or REO Expo.  There are literally hundreds out there who ask you to pay to register, but you will get no REO Listings.

You will also find sample reo resume info along the way.

• The ultimate Toolkit you will want to take a look at is the Ultimate REO Marketing Plan.  It will show you how to get the BPO, Turn BPO’s into Listings, Forms, Tips, Tricks, Who to talk to and a complete guide from A to Z.  Check out the Details Here
• If you want a Straight Forward – HERE YOU GO with Tons of INFO Program that shows you how to TURN A BPO into a Listing then go Straight to this Detailed Section: BPO INTO REO LISTINGS

One thing I highly suggest Every Agent and Broker to do before Leaving this Blog is to check out TextAnAgent.com – If you want to learn how to Capture Multiple Leads Every Day from Your Listings, Online Marketing (15 Minutes a day on craigslist), or reach out to Buyers and Investors faster than any other marketing method – then you need to Step up your Technology.

Being able to reach your Prospects Instantly, 24 hours a day via Text on their Cell Phone is the Next Era in Marketing.

Join a Special insider webinar and you be the judge.  Details and Webinar – Bulk REO Trader

For the past 3 years there has been a Frenzy of investors trying to obtain the ever elusive REO Tapes, REO Packages, BULK REO Deals – you name it, they were trying to find it.  Broker chains of 5,10, 15 people who had no idea even what a real REO Tape is, who at the bank would supply that info, or probably never even held a real estate license or purchased real estate ever!

Why? Because BULK REO Packages highly sought after, but only a few people know where and how to get them.  They have the education, the contacts, and the investor knowledge needed to property obtain, purchase and or broker a Bulk REO Package.

Again, you the be judge about Bulk REO Deals and this Mastermind who has been all over in the media.

More on the Bulk REO Trader System at www.REOPackageGroup.com

Bulk REO Packages and Non Performing Notes are in Hot Demand for the Savvy investors who realize the Short term and Long term investing power and profit potential of the current real estate market.  REO Notes creates both a Long Term and Quick Profit strategy both for Investors and Real Estate Agents who want to create their own REO Listings.  Non Performing Notes, NPN’s, also create the same potential, but offers more options to the investor.

1. REO Professional
A Lot of REO Coaching Programs that Charge $197/month x12 months, $3000+, $5000+ and so on all have one thing in common.  STOP WASTING YOUR MONEY With these so called 12 month Coaching Programs.

A Top Florida Agent has put all his Tips, Trick and Secrets together along with everything he uses including Video and Craigslist Info.  Take a look at all his Real Estate Agent Testimonials from those who have used his Tools.

REO & BPO KIT for Real Estate Agents

2. Get BPO Assignments

The Secret Guide to BPO’s and how to Make $100K plus per Year.
Check out the info this Professional reveals about receiving as many BPO assignments as you want!
Full Details Here

3. Short Sale Riches

- Learn Train your Investors How to Work with Short Sales so you can sell your short sale listings as soon as you get them
- Learn the Tips & Tricks to get your short sales approved faster and Save Time dealing with the banks.

Full Short Sale Riches Details Here

4. REO Resumes, Websites, and Beyond..
Our Newsletter subscribers will get the insider info on how to create a REO Resume and Other Important Items to get Noticed.

Stay tuned for other great updates and Real Estate Tips, Legal Protection as Agents, and Special Discounts on Agent Products such as Business Cards, Signs, etc….

Automate any BPO Form or Monthly Report

It can be used to automate any kind of BPO form and MONTHLY REPORT, from the most complex to the very simple. Including Integrated Assets, FARVV, First American REO servicing, Clear Capital, Res.Net, Goodman Dean, E-mortgage Logic and more. It is the only automation software you will need.

Automate Login and check for available orders.
Save valuable time by automatically checking for available orders at the push of a button with our task scheduler.
What is bpo5000?
bpo5000 is a solution to help REALTORS and BPO providers, optimize and accelerate the bpo processes, decrease errors and enhancing client satisfaction.

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Our Site covers the Following for Agents who are interested in REO Training & BPO Training:
- Short Sales
- REO & BPO Business
- CFS Designation for Agents – Ultimate REO/Foreclosure Tools * We no longer Refer Agents to this program, we Highly Suggest looking at the REO & BPO Kit Above.
- Marketing – Search Engine Optimization – Newsletters

We Cover the Following 4 Topics above throughout our site. Visit the “Recent Posts” to the Right and “Blogroll” to the left for all the articles. These Topics have Separated Top Brokers and Agents from the rest of the Real Estate World.

For One to Succeed, They have to want to learn and do what others do not want to” When Those who Learn and Start their Journey – They wonder why they ever had any doubts to begin with…

REO Training is a must if you want to be a Top agent in your Area.  If you want Asset Managers and Internal Bank REO Managers calling you to list Bank Owned Real Estate and Conduct BPO work you need to show them that you understand the entire process.  Not just from the Agent Point of View, but also from the Banks Point of View.

REO Training will get you the REO Listings that you want.  Put some time and effort into your business and it will pay off.  Nothing is easy.  If it were we could all win the lottery with a snap of a finger!!

[- Order Here -]

Have you ever seen how many FREE Listings Agents get from the banks? They don’t do any marketing, spending time knocking on doors to get listings or buyers. The banks simply send them an email with the homes in their area and their asking price. The agents list them and make the sale.

If you have looked through the Arizona MLS, California MLS, Texas MLS, Florida MLS – just to name a few, you will see a few agents who have 100’s of listings from the banks. How nice to just Sit back, list the banks properties, and let the other agents scrap for the buyers.

Get Started Today on the Fast Track.

We No Longer Refer Agents to This Product – We highly suggest a Well Know Program with Tons of Agent Testimonials at: REO & BPO KIT HERE

Table of Contents

Introduction

Overview of CFS designation and the 4 Realtor profit centers

Chapter 1 – Understanding Foreclosure
The importance of understanding foreclosure, foreclosure defined, how lenders accelerate foreclosure timelines, six basic steps to foreclosure.

Chapter 2 – Mortgage or Deed of Trust
Why Realtors need to understand the import and difference relative to foreclosure, each loan instrument defined in detail and how applicable to foreclosure

Chapter 3 – One on One with the Pre-foreclosure Prospect
Pre-foreclosure prospects state of mind, putting them at ease, setting the table, providing “real” post sale relocation options

Chapter 4 – Homeowners Alternatives to Short Sales
Why an overview MUST be a prerequisite before any hands on representation, representing client interest is a legal responsibility, the five alternatives to foreclosure, what is FHA Secure, the natural segue into the first 2 profit centers; Home Redemption Business and Listing Short Sales

Chapter 5 – The Home Redemption Business Model for Realtors
THIS IS AN UNTAPPED MARKET AND A NATURAL EXTENSION OF YOUR EXISTING BUSINESS! Is loan modification a feasible option, lenders criteria for modification, complete Home Redemption Business model, average fee to charge, information to collect from borrower, maximizing approval rates, working with the lender on behalf of the borrower;
BONUS MATERIAL: Necessary contracts, agreements, checklists, forms and actual case study of a loan modification.

Chapter 6 – Foreclosure and short sale consequences
The consequences of foreclosure and short sale, requirements of a Realtor to disclose prior to listing, addressing deficiencies and tax liabilities, what is HR 3648.
BONUS MATERIAL: Sample promissory note.

Chapter 7 – Listing Pre-foreclosures properties
This is an expanded version of our book “Listing and Selling Pre-Foreclosures”.
Comprehensive definition, detailed components of a short sale package, nuances of listing the property, importance of the lenders BPO and the BPO the agent performs, the HUD-1 settlement, dealing with multiple lien holders, dealing with all the lender responses, changing MLS status, representing short sale buyers, complete marketing strategy to gain pre-foreclosure leads, detailed prospecting script;
BONUS MATERIAL: Agreements, contracts, case studies, forms: hold harmless agreement, short sale checklist, 3 detailed case studies with lien releases, Sample HUD-1 and MLS print outs, authorization to release, Repair bid template, Blank BPO template, completed BPO, financial statement, short equity addendum, direct mail and display ad samples.

Chapter 8 – Broker Price Opinions
This is an expanded version of our book “The BPO Business”.
BPO defined, who orders them and for what, typical variables on all BPOs, what BPOs pay, ways BPOs serve agents, information to gather prior to applying, how to convert BPO orders into listings, getting paid more than the initial offer amount;
BONUS MATERIAL: Sample BPO application, completed BPO example

CHAPTER 9 – Listing and Selling Bank Foreclosures
This is an expanded version of our book “Become an REO Power Lister”.
Overview of industry, who hires Realtors, commissions, when assets are assigned, REO agent detailed service model, what departments to prospect to and whom within the company does the hiring, prospecting script, importance of broker price opinions, reimbursement of expenses, the import of your contractor team, marketing plan to gain new business;
BONUS MATERIAL: Sample Master Listing agreement, sample REO Broker service manual, REO Marketing case study with MLS listing

CFS Appendix

Glossary

State by State Foreclosure Laws

CFS Final Test

Just a few benefits of being a CFS

• Armed with the most comprehensive education available on foreclosure
• Fully understand the 4 Realtor Profit models in foreclosure
• Supplied with REO and BPO Leads (see database below)
• Expertly versed on marketing strategies that procure pre-foreclosure leads
• Placed in the Foreclosure U database of CFS to be viewed by lenders, REO management companies and consumers
• Market yourself as a CFS and Foreclosure U graduate when applying, competing and marketing for REO, BPO and Pre-foreclosure business
• Utilization of the CFS logo

Upon completion of the CFS Training and passing grade (75%) on the Final “CFS Test” you will be educated and proficient in the following aspects of foreclosure:

• State foreclosure law
• Property foreclosure alternatives
• Legal, tax and accounting ramifications
• Loan modification & Home Redemption
• Listing and Selling Short Sales
• Performing Broker Price Opinions
• Listing & Selling Bank Owned Properties
• Expertly versed on how to WIN business in each profit center

Manual Specifics

• Pages: 270
• Professional Grade 3-ring organizer

That is significantly less than other paper tiger designations such as GRI, CRS and ePro, to name a few. This training DOES NOT simply provide you an education! It details the marketing aspects of each respective “profit center” and includes the actual contact information of the most qualified leads that exist!

1. National Default Database CD $99 VALUE

Database includes:

• 103 Loss Mitigation Departments
• 119 Lender REO Departments
• 81 BPO Vendors
• 59 REO Management Companies
• 14 REO Organizations
• 323 Lenders that report to have their own internal REO Department