Currently Bank owned property inventory exceeds $49 Billion
REO/BPO agents are in High Demand
Banks are overflowing with REO properties, and 2012 continues to set new foreclosure and REO records. New properties go on the market every day, creating a constant need for qualified agents.
So, what do REO and BPO agents do?
Good question. The two main jobs of REO/BPO agents are:
- Establishing property values with broker price opinions, or BPOs
- Listing Bank owned properties for sale (REOs)
Who gives out REO and BPO assignments?
REO and BPO assignments are handled by specially trained employees known as Asset Managers. When assigning REOs and BPOs, AMs select agents from their company’s approved agent or broker list. The key to getting assignments is to get on these lists! Companies that need agents include:
- Banks
- Asset Management, or REO companies
- Mortgage Servicers
- BPO companies
Where are these companies found? RIGHT HERE!
Below are links to some of the leading REO management companies. Whether you are new to the game, or an industry vet, these companies are a great way to grow your REO business. Just about every one has a link on their site to begin the approval process.
- FAS Financial Asset Services Inc.
- Excellen REO
- National Default Servicing
- Olympus Asset Management Inc
- REO Experts
- Keystone Asset Management
- Integrated Asset Services
- REO World
- Equity Pointe
- LAMCO
- Bankers Asset Management
- NREIS Asset Management
- New Vista Asset Management
- Corporate Asset Management, LLC
- Platinum Real Estate Services, Inc.
- J.E.M. REO Resources, Inc.
- National REO Services, Inc.
- REO Solutions
- Precision Asset Management
- Archon Group
- REO Nationwide
- HUD
- Bank of America
- Premiere Asset Services (Wells Fargo)
They go by many names- reo asset management companies, reo management providers, foreclosure management companies, bank asset managers, real property managers, and let me say it again… REOs and BPOs are a great way to get more reo listings, bpo assignments, and to grow your real estate business.
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