Learn how real estate agents become successful REO agents and get the listings.
Make thousands listing and selling REOs!
Becoming an REO agent is easier than most real estate agents believe. Alot of real estate professionals believe that they pick up the phone and call asset managers and hope and wait for their call to utilize them to list their bank owned properties. This is not how this industry works. Most REO agents do not share their secrets to success! Why would they? They make hundreds and even millions of dollars a year listing & selling reos directly from the banks! Most agents want to know how to get into this amazing industry! All the answers can be found in the award winning e-book Becoming a Master at Listing & Selling Bank Owned Properties. It teaches new and experienced real estate professionals the entire foreclosure business as well as how to start getting the REO listings immediately!
What services do REO agents perform for the banks? BPOs (Broker Priced Opinions) and becoming the bank listing agent. What is a BPO? A BPO (Broker Priced Opinion) is an expanded CMA (Comparative Market Analysis). Basically it gives the bank a good idea of what their REO property is worth and how much they should list the property for when it comes onto the market. Banks will pay anywhere from $50-$150 per bpo order. There are agents out there doing in excess of 500 bpo orders per month!
What licenses are needed to become an REO agent? You must have an active real estate license. Do you need to have experience to become an REO agent? Most agents will tell you yes. But, actually anyone who is willing to learn this industry can do it with a real estate license.
How hard is it to break into REOs? It is actually much easier than most agents believe. The most important thing an REO agent will need to do is sign up with all the bank and asset management company sites. You will need a copy of your real estate license, a signed w-9 form, a copy of your errors and omission insurance policy, and be prepared to list all of your zip codes you are interested in receiving listings in.
How do I get more training to become an REO agent? This outstanding e-book called Becoming a Master at Listing & Selling Bank Owned Properties teaches real estate professionals the entire REO industry and most importantly how and where to get the bank REO listings. It is specifically written for the real estate professional looking to start listing REOs and performing BPOs for the banks. Many REO agents currently have listed anywhere from 15 to upwards of 1000 bank REOs at any given time. This year alone there is expected to be over 3 million foreclosures nationally! This is a very booming industry and your earning potential is unlimited!
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