2018 List of REO signups and outsourcers provided by me, an active REO Real Estate Broker in the State of Oregon. The most common question I get among aspiring REO Real Estate Brokers are how do I start to work for Banks, how do I get REO assignments?
Through blood, sweat, and tears, I have put together a lengthy list of banks or outsourcers to sign up with to make application for REO Listing work. It is through my appreciation of how much time I can save fellow Brokers, that I share my findings. I also like the idea of helping people.
I should tell you that my method of obtaining REO work, was purely to apply through the channels that the Outsourcer or Asset Managers have made available. I am not a person who attends conferences or takes time away from work to get work. I have literally been to zero REO conferences. First, I hate to travel, and second, I can't take time offof work. I update my application information every 6 months, and I try to learn methods in which I can get an opportunity. Quite honestly, the majority of my assignments came because a previous Listing Agent made a mistake.
If you are taking your first REO Listing, please be prepared with BPO experience so you don't screw up a big opportunity. If you mess up or do not meet their deadlines, they will re-assign the listing to someone else. No forgiveness in this business. Some Real Estate Brokers complain about REO Listing Agents being terrible or non-responsive, but I promise their Asset Managers are gettingtop notch service from them to keep them active. Be ready to do a great job for them. This may require you to enlist a more experienced REO Agent through your first few listings, if you have someone you can trust.
REO Vendor requires a lot of ap...
