How do you get REO business? You have to get noticed, face it you and I are just a part of a hungry herd, scouring for business. Here's what's worked for me. I find a asset management company that has property in my area. I go to Hoovers.com. if you don't have an account with Hoovers, go to the public library. I look up the people in the company and find a VP who's in charge of asset managers property marketing, then I go to jigsaw.com and look up the company's email format. So now I have a name, a phone # and an email address.
You go big or you can go small. I always go big. I write a short letter, two paragraphs max, attach my resume and references. I send them to the VP via FedEx 3 day, I send it so it arrives on a Wednesday. One the same day I order a small order of Shari's Berries, 9 count berries, $19,95 and schedule the gift to arrive on Thrusday, and I call on Friday.
I've had good success with this method. Right now the banks are sitting on their properties hoping to hatch another bail out from the Feds. That's topic for another post.
Comments
Nationstar!! Thank you!!
go here https://www.nationstarmtg.com/Realtors/RealtorApplication_Step1.aspx
Northstar? Do they offer an online application? I can't find them
Normally BofA only assigns one agent per brokerage office. I'm the one for my office. All the listing assignments come out of Plano TX and it's top secret who does the assignments, I've tried to find out, no luck. I'm sure someone knows but I hadn't found them. Northstar Mortgage is the newest outsourcer for BofA and they are located in Lewisville TX
I am not the Broker, our office is located in Miami FL, yes we have retail BOA branches (loan officers cannot offer help, I have family friends in BOA) and yes there is an agent in our office (not the Broker) receiving listings directly from BOA and 2 of their outsourcers Core Logic and Atlas. We submitted applications to all BOA outsourcers and BOA around the same time from 2007 to present. Did he get a little "push"? I don't know....going back to Atlas, I know they are assigning a ton of BOA and Chase listings in Miami, I have emailed Vendor Management numerous times, I have 5 years of experience marketing properties for these 2 Lenders, still no results...FRUSTRATING!!
First Preston, start at the top,
How many agents do you have in your office? Where is it located, what city and state? Do you have a retail BofA mortgage office in the city? Is agent in your office receiving BofA direct listings? Is you office a Coldwell or Prudential like national office?
You mentioned on another blog that you have been working with BOA for over 5 years. You offered on your reply the link to apply with BOA which I have already done. I was receiving listings from BOA through IAS, of course we all know that they lost that account. I have tried many things to receive listings directly from BOA, they already know that I have marketed their properties before, that I am quite familiar with all their procedures, the H&S, the marketing of the property, that I I hold Equator's Platinum Certification (promised to help), what else do I need to do?? About them weeding their agents....