Listing REO Properties

According to the book, REO Boom, chase reo properties are the cash cows of many real estate agents today. That is why it is ideal to start your own REO business. But how do you start listing bank owned properties? You might think that calling individual banks and lending companies will do the trick. However, most of the financing institutions outsource these services.

Banks rely on asset management companies to contact agents that will handle the selling of their homes. They collect and compile the said information in a list, which they make available to agents. This is why you need to work with an asset manager if you are just starting out.

You can use online information to contact asset managers. However, it is not guarantee that you will get a response. The REO Boom also presents a list of the said managers that you can contact and work with. Finding an asset manager is crucial for your business because they will provide you with the properties to sell. It is better to have a higher inventory of bank owned properties because you will have more opportunity to make money.

But how will you find reliable asset managers?

One of the ways to find an asset manager is to have a copy of the REO Boom. It provides a list of the managers, how to find them as well as how to maintain a good relationship with them. One advantage of having a copy of the book is that you can take it with you anywhere. This means that you can review the tricks and tips of the trade wherever you are.

You may also contact different banks. They can provide you with the contact information of their outsourced management company or team. As mentioned above, most banks outsource this service. However, there are also those who hire REO agents directly. If you want to find out who currently manages the property, then contact a local assessor's office. They have a list of information of asset management companies. Mortgage companies are good source of information as well.

Identify how asset managers want to be contacted. Most of them want the agents to register online. This is also the best way to go. Even if you are able to contact a manager directly, he will likely tell you to register to his website. Although there are free database, you will eventually need to purchase REO Bank list. These are better ways to acquire information and bank owned properties.