Message 2 of 190

REO and BPOs

I am a new Realtor and my focus is REOs.. I am seeking advice on connecting with Asset Managers.

I have purchased several eBooks on line and have been reading blogs on the subject. My problem is how to get in the door of these asset managing companies. I'm a professional individual and have been working for many years. I have a degree in accounting and business and have a sales background as well as good computer skills, office managing, secretarial and bookkeeping. I have sold several of my own properties over the past 25 years and had a couple of rental properties in the1990s. I have a good knowledge of home construction and so does my two assistants. However, I don't have a lot of Real Estate experience and have never done a BPO, although one of my assistant has some experience doing BPOs. My concern is applying to these Bank Asset Managers... I believe my competition will probably be seasoned Realtors or at least people who have done some BPOs. I am troubled about how to prepare an appropriate introduction letter to make them interested in a newbie without looking like a newbie and even more important what specific questions do they usually ask when they are screening and interviewing a prospective applicant to do their Broker Price Opinions. I hope to gain listings this way and if there are any particular companies, contacts or advice that you would suggest or be willing to share it would be greatly appreciated. Thanks and have a great week. Joey
NorthernExposure's profile
If one of your assistants has a lot of experience doing bpo's form a team and emphasize that you all work together as one. Emphasize your vast sales, management, construction etc experience, add theirs and market yourselves that way. Sounds like you have real estate experience, just not reo's. There is a group called National Reo Brokers Association. They charge a monthly fee, but they give you a list of asset managers, training, and huge conferences where you get to network with other reo agents and asset managers. It also gives you a means to apply to all the various asset companies and advertise you belong to NRBA. It's not easy work, but can be lucrative. I wish you the best of luck with it. Just so you know they are always adding new agents now, because of the vast number of foreclosures.
HarfordGirl's profile

about 1 month ago
Thanks.... Harford Girl, that information is very helpful and has given my some good ideas. ;-)
NorthernExposure's profile

about 1 month ago