From 790163bf2bafc50fd73bd05131a65ca0f8ccc394 Mon Sep 17 00:00:00 2001 From: jeffersonk7995 Date: Sun, 31 Aug 2025 13:05:15 +0000 Subject: [PATCH] Add 'How to get REO Listings in 2025' --- How-to-get-REO-Listings-in-2025.md | 68 ++++++++++++++++++++++++++++++ 1 file changed, 68 insertions(+) create mode 100644 How-to-get-REO-Listings-in-2025.md diff --git a/How-to-get-REO-Listings-in-2025.md b/How-to-get-REO-Listings-in-2025.md new file mode 100644 index 0000000..5d57869 --- /dev/null +++ b/How-to-get-REO-Listings-in-2025.md @@ -0,0 +1,68 @@ +
Pursuing REO listings can be a waste of time, or it can be a lucrative way to broaden your portfolio and grow your service. This article covers the fundamentals so you'll understand how to get REO listings properly.
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What Are REO Listings?
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REO (" Real Estate Owned") listings are residential or commercial properties that were foreclosed on by a bank or a loan provider and have not been offered at a foreclosure auction. Instead, the loan provider now owns these residential or commercial properties, and they want to offer them to the cash they provided for the residential or [commercial property](https://bhmansoes.com).
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It is necessary to observe the difference between foreclosures and REO listings.
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Foreclosures: The [property owner](https://www.u2apartment.com) defaulted on their payments, but the bank does not own the residential or commercial property (yet). +REO Listings: The residential or [commercial property](https://inpattaya.net) has gone through the foreclosure process, and the lender, bank, or government company now owns the residential or commercial property.
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Both scenarios present fantastic methods to create property leads because they include highly inspired, "distressed" [sellers](https://badak3ikar.com) who would love to work with an agent like you! (Learn other ways to find inspired sellers.)
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How To Get REO Listings: A Quick Overview
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These are the 4 methods we'll cover in this post:
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1. List yourself on [REO directory](http://xhimis-seaside-apartments.com) sites. +2. Work with federal government firms. +3. Offer BPO services to [asset supervisors](https://reshine.ai). +4. Work straight with banks.
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How To Get a List of REO Properties (totally free!)
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One option is to be proactive and snatch foreclosures before they technically become REO listings. To find [foreclosures](https://online-caribbean.com) in your area, have a look at listing services like [Auction](https://acresproperty.in).com or [Foreclosures](https://citytowerrealestate.com).com.
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Otherwise, here's how to get REO listings:
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- Search for bank-owned homes straight on bank sites and make an offer. You can attempt the huge banks such as Wells Fargo, Bank of America, or US Bank. But you're most likely to be effective if you pursue regional banks, lenders, and smaller sized cooperative credit union in your location. +- Look for [listings](https://badak3ikar.com) on REO property [management company](https://apnaplot.com) sites such as HomePath.FannieMae.com. +- Check out government agency sites like HUD.gov. +- Visit your local [county's website](http://unterkunft-gardelegen.de). (Google search" [your county] reo homes," [your county] residential or commercial property search," or" [your county] foreclosures for sale," for instance.). +- Lastly, you might even find REO listings on Craigslist or within your local paper's classified advertisements.
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Now, let's get more particular and dive into the four finest techniques for getting REO listing leads.
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Strategy # 1: List & Advertise on REO Directories
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Listing yourself and advertising your services on REO directories can be an effective method to link with banks, loan providers, and asset management companies trying to find property agents with competence in handling REO residential or commercial properties.
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For example, you could join the REO Network.
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The downside to this method is-you're not truly "finding" leads. You're putting yourself in a position to be found by leads. To put it simply, you need to depend on luck.
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Is a network or directory going to be your best source of REO seller leads? Probably not. But it's not difficult or lengthy, and it could extremely well be a "passive" way for you to get REO listings.
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Strategy # 2: Deal With Government Agencies To Get REO Listings
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In some cases, a bank owns a foreclosed residential or commercial property. (We'll cover that in Strategy # 4 below.) But other times, it's a government agency. +So as you're looking for ways to get more REO listings be sure to explore ...
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- The Department of Housing and Urban Development (HUD), which obtains unpaid Federal Housing Administration (FHA) mortgages (Note: a Single Family Acquired Asset Management System [SAMS] certification is needed.). +- Veterans Affairs (VA) REO residential or commercial properties for sale. +Fannie Mae. +Freddie Mac
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Pro Tip: Consider obtaining particular qualifications and certifications, such as NAR's Short Sales and Foreclosure Resource accreditation, to strengthen your own confidence and increase the possibility that possible customers will see you as a trustworthy professional.
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Strategy # 3: Offer "Broker Price Opinion" (BPO) Services
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A BPO is a professional estimate of a residential or commercial property's worth. Don't believe of it as a formal appraisal. It's more similar to a comparative market analysis (CMA). Find out more about how to craft a strong realty CMA.
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BPOs are often utilized by banks, mortgage lenders, and asset management companies to determine the current market price of a residential or commercial property, particularly when they are involved in deals like refinancing, short sales, or foreclosures.
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So the method here is to reach out to the decision-makers at the banks, loan providers, and property management companies (not their administrative assistants!) and offer to offer a BPO as a type of real estate networking.
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If you can develop relationships with those who handle REO listings every day, you set yourself as much as become a go-to agent for your area who can deal with the sales procedure on their behalf. (As a side-benefit, of course, you'll receive payment for your services.)
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Strategy # 4: How To Get REO Listings from Banks
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Step 1: Learn Who You Can Talk with
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Create a list of banks and possession management companies in your target market who regularly offer REO listings. Do your best to get all of the contact details for each.
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Again, attempt to determine who the decision-makers are so you can speak straight to them rather of their assistant. Your success at this moment will depend on how well you can establish a relationship with those who remain in a position to pass REO listings on to you.
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Step 2: Make Connections
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Go through your list and ...
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- Submit your application (if relevant). +- Reach out to them with a phone call. +- Follow up within the week (and any weeks that might follow) with an extra telephone call and an email. Be relentless. Showcase your expertise, and make it clear why you're the best property agent who can assist them move REO residential or commercial properties.
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Step 3: Prepare
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Meanwhile, as you're developing relationships, get ready for the minute when you make your pitch to take on an REO listing.
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Conduct research study. Familiarize yourself with the local housing market (particularly any data connected to foreclosures and REO listings). Also, learn more about who they are, just what their business does and means, and about how lots of foreclosures they normally work with during any provided month.
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Prepare a scripted presentation. A well-crafted script will assist you sound more like yourself, point out all of your crucial talking points, and tactically direct the conversation. As part of your presentation, be sure to consist of ...
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- Your distinct selling proposition (what sets your realty brand from the rest). +- Exactly how your service can benefit them. +- How you plan to offer REO listings (and how that differs from what your competitors and they're existing go-to agent are doing)
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Step 4: Ask
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Once you're confident that you have actually established some degree of connection with the property supervisor, bank representative, or whoever it may be you're working with, it's time to make your pitch. Ask if you can arrange 15 to thirty minutes to discuss your discussion and detail your method to selling REO listings.
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If they say yes, blow them away with an incredible very first impression! This is a crucial chance that could help your business grow for several years to come.
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If they're not interested in dealing with you right now, you might choose to continue promoting the relationship or merely proceed to another potential organization where you might be a much better fit.
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