| Getting into the world of REO’s and generating | | | | - Mail them promotional items with your name / logo / |
| consistent, REO leads is one of the best ways to | | | | contact information |
| guarantee a constant flow of income for your Real | | | | - Mail them every month with a unique item (holiday |
| Estate business. The following is a list of tips and tricks | | | | postcard, sports schedule, etc) |
| the top agents have used to start and grow their REO | | | | This one simple step will put you far above the rest of |
| and BPO business. | | | | your competition! |
| Using these steps and HARD WORK, you can | | | | Step 3: When you get a REO Client, WOW Them! |
| dominate the REO and BPO market in your market. | | | | Most asset managers have literally hundreds of REO's |
| Step 1: Find The REO Banks | | | | they issue every week. If you can get them to |
| You can be the best agent in the world, but if the | | | | remember your REO listing and your name, you will |
| banks, asset managers and lenders don't know about | | | | get the next REO lead they have in your market area. |
| you, you will never earn a cent. You need to start by | | | | - Personally email your client and Thank them for |
| finding an up to date, quality list of companies that | | | | assigning you the REO. |
| need REO agents. | | | | - Send them a Hand Written thank you card |
| You can start by calling local banks, lenders etc, but | | | | - Do a great job on your REO (many agents forget |
| the fastest way to break into the REO business is to | | | | this step) |
| purchase a list from a reputable provider. Much time | | | | - Market your reo and send your client updates |
| should be spent on finding the right list. The best REO / | | | | A thank you card can go a long way to helping a |
| BPO Bank list is HERE. Use it! | | | | REO client remember you and provide you future |
| Remember, if you don't focus on the right REO leads, | | | | REO leads! |
| the next steps are worthless. | | | | Step 4: Use the right REO tools: |
| Step 2: Impress The REO Leads | | | | Many of the daily tasks of a REO agent can be |
| Most agents will simply email or call the REO leads and | | | | repetitive. Using the right REO tools can help you |
| request to be added to their list of authorized | | | | spend your time on the tasks that turn your REO |
| providers. WRONG! | | | | leads into REO income. |
| In this market, these banks and lenders are getting | | | | The best site to review the available REO agent tools |
| dozens of these calls every single day. You need to | | | | can be found HERE |
| be stand out! | | | | Step 5: Repeat |
| The key to being remembered is treating the REO | | | | Getting into the REO business is hard work, but if you |
| leads like you would any other, high value real estate | | | | follow the above steps, you wil be amazed at the |
| client: | | | | results you can achieve. |
| - Email them weekly/monthly with stats on your | | | | DON'T QUIT! |
| market | | | | |