The previous post discussed how a REO Transaction Coordinator can help REO agents apply to asset companies and help agents connect to asset managers.
After this article, a lot of agents contacted me thinking that I had instant access to a network of Asset Managers. And that I could just instantly connect the agent to the AM and they would receive assets.
So I want to clarify what I am able to help the agent with. As written before in the previous post, I offer the service of signing up the agent with many asset companies. That involves uploading or faxing the necessary paperwork to the company. Since it is advantageous to apply to about 50 – 100 asset companies, some agents prefer to outsource this task. That is where I come in. This does not guarantee that you will receive BPOs or REO Listings. That of course is based on the need of the company and the criteria they have for accepting more REO agents.
I also help the agent connect with asset managers. As written previously asset managers are busy and they do appreciate building successful networking relationships. They do not appreciate being continually contacted for BPOs or REO Listings. So I do help agents develop a social networking program that helps them connect successfully with asset managers. This is a way to build a good networking relationship with asset managers. And in this business, it does help to have a solid network of asset managers. I have been able to successfully connect some agents with asset managers which resulted in the agent receiving REO work.
So in summary:
- I help the agent apply to the asset companies
- I also help the agent develop a social networking program. This program is designed to connect and build an asset manager network for the REO agent.
My next topic will cover things you can do to make the asset manager’s job easier – which in turn will grant you more listings!
To your business success!
Roxanne Tidmore
Comments
There are REO and BPO Companies. The agents who request this service already have a specific list that they are targeting. And we do have a list that we add to the agent's list. It actually depends on what the agent wants to sign up for.
If you would like to contact me, I can be reached at 513-407-9194 or roxanne@elitereva.com
I look forward to hearing from you!
Roxanne
I live in Chico, California. I would love to become a part of an REO comapany. I am starving agent who spends hours and days talking to short sale department. Pain in the ........ Any how please help me if you can I would love to get REO listings.
Thank you
Sima
For 50 companies, I charge $150. That works out to $3.00 per company.
Thank you.
Roxanne Tidmore
We have a plan and we coordinate it with the agent's plan. We solidify a plan before we begin submitting the applications. We have a general idea of what companies are accepting applications because of past responses. And we would base our plan on what area the agent does business in.