that's funny that I 'm reading your article tonight on how to take a
REO listings or get a REO account.  I was asked that question yesterday.

How about some practical information about how to go about getting the banks to use ME? I have my CDPE and other pertinant designations / certifications but have only handled a few short sales myself, so far. Any advice on how to put together a package to sell myself and to whom should I target my REO package? (Asset managers at ANY bank? Are there criteria for banks that I should look for?)

Thank you!

"The simple fact is that banks are desperately looking for listing agents. Ask any asset manager and they will tell you that they need educated, motivated REO listing agents now."

 Well, you are wrong!  I contacted over 200 asset managers by letter and sent my resume. No one answered  except Countrywide, who said they do not need one.  Asset managers are not looking for experienced and knowledgeable Realtors.  If that is the case, I will be on the top of the list.  They know some agents and give their listings to them and may be get some faver instead!  In my farming area I have seen REO agents who even do not know where the house is located.  He called it Los Angeles while the property is in Lake View Terrace.  His office is about 90 miles from the listing.  In another case, a 3 bedroom house was advertised as 2 bedroom house and sold much lower than its value.  The listing agent had not even seen the house and never saw it.  He never had an open house.  There is lots of corruptions in REO listings including monopolizing.  I have tried so hard to get REO listings, it just does not work.  We need some rules and regulations in this regard and I hope Department of Real Estate recognizes that need.

Mali Bakhtar, Ph.D

Associate Broker

This is the exact information I am after.  I agree with Mali Bakhtar above that I too have run into REO listing agents who know nothing about the location, the area, or home they are representing.  I would love to become an REO listing agent in my own marketplace, but the information on how to obtain this goal seems to be coveted to a few in each market area.  I am open to ideas on how to get in front of these asset managers to make a good impressiion and sell myself as their go to Realtor.  I work real estate 24/7 and won't stop now.

Kelly Klein, Red Hot Realty

Destin, FL

Sending an email or calling an asset manager or 200 for that matter will never get you an REO listing.  You must be signed up with the banks and asset management companies.  You can get a FREE list of REO and BPO Companies at this website: www.listbankrepos.com when you buy their REO e-book Becoming a Master at Listing & Selling Bank Owned Properties, it is an excellent book too.  I highly recommend it, I purchased it when I wanted to get into listing REOs.  The list has almost 200 companies to sign up with, I just signed up with them and in less than a week I got my first REO listing.  I wish you all much success, listing reos is hard work but very rewarding!

I do agree that calling all the companies will quickly get you on the do not respond list if you know what I mean.

I have had luck with many of the companies rather it is just a BPO or up to multiple listings building a great relationship with my AM. I would suggest www.reoworld.com , www.reoprep.com , www.reotrans.com , www.reomac.com , www.reoassign.com .