Just got an REO

I got an REO re assignment today from single source! They called me up said hey, im getting ready to re assign this listing, I see you did a BPO on it back in november do you want the listing. This is one of the first times we have gotten an REO directly from doing a BPO.

 

For those of you who care about figuring out the REO world. The bank on this is First Horizon, which is now metlife. First Horizon outsources to Land America, Single Source, and USRES.

 

FYI my business partner and I broke into the REO world in the begging of last year. Never done a BPO, didnt know the first thing about getting an REO assignment. We now run a team doing over 200 BPO's a month and have gotten over 60 REO listings in the last 12 months. Let me know if you would like to network

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  • Right on Nate! Isn't it great when all of our hard work starts to pay off? I started doing BPO's last year and did over 400 in less than 8 months and I'm starting to see the fruits of all of my labor pay off with breaking into REO's. Even when a company says they're not accepting new agents we need to be diligent and follow up. I love this business!
  • I signed up with them back in March and in April I did several BPOs for them. Last week they just stopped and I received all the paperwork for their affiliation with American Destiny and no more BPOs....hopefully they will get busy again!
  • I signed up with Single Source about a week ago and sent my resume to their email as they request and haven't heard anything. I sent a follow up email earlier today as well. I live in So Cal.
    How long do they normally take to approve?

    Thanks!
    • they are affiliated with ADR, American Destiny Real Estate .........i originally registered with them and can't remember how long they took, a month or 2 i think.............clarification: i did do 10 or 15 BPO's for Single Source, but not for the property that i was assigned to list
  • That's great. I just got one from Single Source as well, but I did not do the BPO for it.
  • Thanks mike, I am very big go getter! Even though we have only been in the business for about a year 60 listings from 11 different companies did not come easy. I feel I have a good understanding of how the system works and how to break into more companies.

    Two listings I got this month from IAS and singlesource were both companies that "were not hiring" Well we broke in and now have gotted 5 listings from these guys, and do a ton of BPO's. I am very happy to share with people and would love to see how we can grow eachothers business
  • Congratulations! Hard work and a willingness to learn pays off! Great Job!!!!
  • hey nate i am open for any tidbit of info....any companies your willing to share iam open..thanks
    • Mike,

      Read his blogs...very informative and agressive.
  • Nate- congrats! hope there is many more to come.
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