In EPISODE 1 we learned how to get listings through database POP-BYs. In EPISODE 2, we learned how to get listings through “New Listing” and “Open House” DOOR KNOCKING. In this final episode find out how to get REO listings. Watch the video or read blog below.
03/19/2014 HOW TO GET LISTINGS Part 3: In EPISODE 1 we learned how to get listings through database POP-BYs. In EPISODE 2, we learned how to get listings through “New Listing” and “Open House” DOOR KNOCKING. In this final episode we take you on a trip to a NAHREP REO Conference in Los Angeles. Many agent travel to REO conferences in hope of getting their foot in the REO door. They try everything to meet an asset manager thinking that if the butter up an asset manager, they will get REO’s. These agents are wrong. Those days are long gone. Most asset managers do not have the authority to assign listings. Most big banks have an automated system that assigns you REOs once you have been approved to be in their network. SO the trick is to become an approved REO vendor with these companies. Once you are in, you can request listings. The amount of listings depend on your area and how many agents are in their network.
In 2008 I traveled to Southern California for an REO convention. I found the classes to be boring and impossible to speak to the REO speakers. I started networking with an agent from a different area than me (no competition) and went to lunch. We talked family, business and fun. He received a call from an asset manager from CoreLogic who wanted to assign him 2 REO listings in Stockton, CA. He did not service Stockton, but I did. I was at the right place, at the right time. That’s how I got my first CoreLogic REOs. I continues to travel to these conventions, not for the classes, not for the speakers but to network. Thank God, I made a great living off of this. Watch the video above for more details.