The one and only book for Realtors looking to start an REO business. We provide the know how, the system and the LEADS!

Did you know that ten percent of the REO agents dominate 90% of the REO listing market? The majority of these agents tenure is a decade or more, statistically having a strangle hold amongst top producers nationwide.

REO agents have been successfully managing their clients (banks) inventory, until now.

Soaring bank foreclosure inventories are driving the demand (and thus opportunity) for droves of new agents to break into this emerging market. Existing REO agents can no longer manage their inventory. REO agents that were accustomed to averaging 10–20 listings at any one time are now carrying a staggering 70 – 100 listings. Sales conversion rates and service are falling proportionally.

( see case study )

View REO Master Listing Document

The banks need help!
NOW IS THE TIME TO BREAK INTO THIS BUSINESS!

Our REO business e-book covers the topics you need to know to become an instant success:

• Chapter I: Overview of the REO Industry.
  Which lender “arms” manage property disposition / foreclosure laws / REO commissions / hiring guidelines, when assets are assigned / pros and cons of the REO industry.
• Chapter II: Services required and expected of the REO agent.
  Specific & detailed REO service model / Sample REO Brokers Guide
• Chapter III: List of REO Organizations - Why are they critical?
  Listing of all major REO organizations. These affiliations will be your first step into the world of REO.
• Chapter IV: Listing of 100 banks & their contact information.
  Top 100 lender list with contact information / What departments to ask for / Who are the decision makers / What to say / Requirements for hiring REO agents / Speaking the REO language / Job skills to highlight / Sample Power Point presentation to provide prospects
• Chapter V:“Broker Price Opinions” - Listings of 20 “BPO”companies.
  “BPO” defined: A brokers price opinion is a service in which Lenders hire real estate agents to complete property valuations. You DO NOT need to be a broker. Most commonly, lenders request BPO’s when a mortgage is delinquent by 60 or more days. Performing BPO’s serves real estate agents in 2 ways:

1. BPOs turn into REO listings. Upon the BPO property “defaulting”, you can get the listing.

2. You get paid for your work! The average BPO pays $50- $200. Many agents are completing in excess of 100 BPO’s per month. At an average of $75 per BPO, that’s $90k per year! Each BPO takes approximately 30 minutes to complete. Listing of 20 BPO companies / How to sign up and what ‘s required / How to convert into listings.
 

• Chapter VI: Accounting - Expense reimbursement.
  Understanding this aspect of the REO business can make or break you. Who pays for what? Reimbursement model. What to be cautious of when getting reimbursed for expenses? How to track, submit and document. The importance of your contractor team.
• Chapter VII: Managing Inventory Systems.
  Software specific to REO industry, organizing various client templates.
• Chapter VIII: Maximizing double end transactions.
  Transforming your REO business from profitable into a cash cow by “double ending” 50% of your REO listings.
• Chapter IX: Power Networking Listing of the top 5 Foreclosure Forums on the internet.
  Network, brainstorm with REO agents, REO asset managers and investors through out the country.

NOTE: This Ebook is in PDF format. If you do not have Adobe Reader on your computer, you can download a free copy HERE

The information in this book is applicable to all states.