Any tips out there on how to get listings from banks? It irks me to no end to see new listings pop up in my market area that have frequent errors by an agent that is over an hour away who seems to monopolize REO listings. As a premium member of DispoSolutions, I have only received one bank owned property in about two years.
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Need to go out and find or meet asset managers. I know that one of my Banks decided to send all assets to AMC as of the end of the month. Now I have an opportunity to go to a national conference sponsored by one of the new AMC's I have NO relationship with. It will cost $1,000 but I think it's worth while to introduce myself to the company and shake the hand of the asset managers that might have a bank owned property in my area.
If you have ever been to any REO convention you can tell who the assest managers are cause there is a line to talk to them, a crowd around them and the asset manager has a hand full of business cards. How much can one aset manager do for anyone unless you are in an area that is real rural. I have been doing REO work for 30 years and as you all know companies have come and gone as has asset managers. Asset managers can request agents but in general asset managers do not assign properties. In todays market many asset managers are wondering about their own career and if they will have a job tomorrow. How much money does an agent pay, conventions, fees, dues, etc. a year to possibly get some business. It is frustrating if you get an REO listing, do a great job get it closed and then things dry up. You can make the calls you want and send the emails but no return calls. I guess what I am trying to say is that it difficult for agents and REO companies in todays market. BPO's are more in depth, longer and most pay less than years in the past. I guess it would be nice that REO and BPO companies had more loyalty to agents that deserve it and have done a good job as the loyalty that agens have.