Patricia Harris

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Rainmaker
985,479
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

YOur broker is ultimately responsible for generating leads to fulfill your dream.

If you use 25% of what they teach you and apply it efficiently, you will be a famous realtor.  To get a head start you must treat it as a business, with a solid plan put in place.  95% fail after 1st year.

Apr 22, 2015 10:40 AM
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Why should they tell you a source of their business? I no longer do them so I will tell you to check out Resnet. When you sign up and pay you become listed on their referral network. And yes there is usually a referral fee to be paid on all REOs now.

Apr 22, 2015 10:01 AM
Rainmaker
4,796,551
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Patricia, there's no free ride in real estate.  Do your research, then put what you learn to work for you.

Apr 22, 2015 06:55 AM
Rainmaker
629,063
Ajay Pandya
e-Merge Real Estate - Columbus, OH
Realtor Ajay Pandya

I am sure you found the way out.

Apr 27, 2018 10:44 PM
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Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

We chose not to do REOs and opted for Short Sales...

Oct 01, 2017 06:20 AM
Rainmaker
5,270,927
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Developing strong relationships with lenders can be an effect step towards getting REO listings. Be prepared to demonstrate a successful record of REO sales in your area. You can sell the listings of others.

Apr 23, 2015 01:28 AM
Rainer
304,241
Teaching Amanda Fische
Teaching Amanda Fische - Denver, CO
Offering 30 plus years of sales insights

Patricia - it appears that you are the broker for your company so my suggestion would be to start here, find out which banks have the highest number of REO's, then try to find out who is currently servicing these homes. Make a connection with in the bank or in their asset managment department, once you do that you will need to know what they are looking for from an REO agent or brokerage

Bbe prepared to have some deep pockets or financial backing as most of these require an out of pocket expense by the listing agent, for replacing locks, keeping up with home maintenance, replacing fixtures etc., and if they hand you 20-30 listings it could add up to several thousand dollars very quickly.

This can be a very lucrative market, but it takes a lot of work to make those connections and build that trust and then $$$ to keep it running.

Hope this helps.

Apr 22, 2015 11:36 PM
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James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Go to your broker and ask for help.  He/she should be willing to help you get started.  If they don't you may need to look for another place to go.

Apr 22, 2015 08:49 PM
Rainer
1,945
Patricia Harris

Thanks, not talking about a free ride. Just a hardcore answer as to REO listings.

Apr 22, 2015 08:36 PM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Patricia Harris - not an expert at REO - however, for listing, easiest one is - call FSBO, Expired. There are some services that will provide you with such listings - of course, you'll have to pay for it.

Apr 22, 2015 10:58 AM
Rainmaker
730,830
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

You're talking about two totally separate things. if I were you, I would focus on listings first, and just gradually work towards learning the reo business. To get listings, you need to generat leads, then turn a % of those leads into appontments, then a % of appointments will become listings. Many agents won't tell you because they don't know.

Apr 22, 2015 10:24 AM
Rainmaker
745,017
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

The process into REO is different than getting listings. 

Take great care regarding the business you pursue.

Hi neighbor!

Apr 22, 2015 06:00 AM
Rainer
62,203
Evelyn M Epperson
Coldwell Banker Residential Brokerage - Johns Creek, GA
A Tradition Of [Excellence, Trust & Service]

You want information on how to obtain listings!  That is easy you need to call sellers of expired listings.  Or you can snail mail them a letter after their home expires.  Reo you can meet with a managers of a bank or go to homepath or hud and sign up to get listing of REO in your city or state.  Good Luck!  PS ask your broker or other agents in your office.

Apr 22, 2015 05:48 AM