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Asset management companies handle the disposition of the REOs for the banks (also referred to as 'servicers'.)

When an asset management company has an asset to assign to an agent this is the process they use:

1) What agents do we have in our system who sell in the geographic area where the asset (REO) is located?

2) What is this agents track record with our company..have we used this agent before, did they do a good job?

3) What education of designations does this agent have? If the asset managers are choosing between agent A and agent B and agent A has more recognized education A Will get the listing. In the REO/ BPO industry the RSD Designation from Harris real estate University was suggested to me.

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Q: How to list REO's and foreclosures for banks?
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How can a real estate agent list bank reo properties?

Real estate agents list reos by registering with the banks and reo asset management companies to be placed on their preferred agents list. I would recommend getting a good bank reo contact list as there are literally hundreds of bank and reo asset management companies to sign up with. we got one from www.listbankrepos.com Once you have completed their registration process they will start assigning you reo listings, make sure to be very specific and add all the zip codes you want to receive reo listings in as this is how they assign the reo listings To become a listing agent for REO properties you need to find an asset manager at a bank or REO out sourcing company willing to give you business. First you need to know the process and what an asset manager will expect. The best way to get this knowledge is to find an agent that is willing to teach you the business. You can go ahead and list yourself on all of the reo databases that are online, most charge a yearly fee, depending what territory you live in you might get some good response. You also could go to the bank's websites and sign up as an approved agent/broker. Most Asset managers have their own network of agents and will not tolerate an agent that does not know what to do because the asset managers are managing 200 plus portfolios and do not have time to train an rookie.


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How do you find customers for your trash out business?

The banks and Reo Asset Management companies require trash out vendors to register with them directly to get the foreclosure cleaning jobs and contracts. There are literally hundreds of banks and asset management companies you can sign up with, I would recommend getting a good bank contact list and then signing up with them all. You should also consider the Foreclosure Cleanup Network to get work from Reo agents directly and the Property Preservation Directory.


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market list is market list.......thank you


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Explain why is it essential that banks ensure that their customer database is accurate and up to date if they want to sell more products.?

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