The Shah brothers, author of the book REO Boom, have stressed the importance of asset managers in the success of your REO business.
REO is one of the most attractive markets in the real estate industry today.
It stands for Real Estate Owned.
These are properties repossessed by lenders, particularly, banks.
Because of the rise of the foreclosed properties, banks need the help of real estate agents to manage and sell them.
It is only through this that they can generate income from the foreclosed homes.
But where do asset managers come in? Asset management is a broad industry.
They take care of the gathering of information regarding the REO properties.
They collect listings and make it available to agents and buyers.
This is why it is important to establish a good relationship with them.
You can access some of the information online.
However, this is not as complete as those available only to certified REO agents.
Getting hold of the REO list The asset management companies oversee the closing of negotiated contracts.
They ensure that the lender gets enough returns after the properties are sold.
The asset management teams will also ensure that there are no problems with the titles.
There are many asset management firms in the industry today.
Learn their roles and responsibilities as you will work closely with them when selling REO properties.
The number of foreclosed homes is rising.
But, if you do not have access to the REO listings, then you cannot maximize your earning potential.
Working with an asset manager ensures that you have access to information on REO listings.
REO Boom, presents ways on how you can get hold of the REO listings through the help of the said managers.
How to contact asset managers? You need to contact them to get REO listings.
In order to do that, register with the lenders or the REO Asset Management Companies that provide such listings.
Many database provide contact details.
If you are a competent agent, they will surely want to do business with you.
There are also different links online that provide the same information.
Acquiring an REO list is very important in jump starting your REO career or business.
Once you have the list, you will be able to start implementing different strategies.
You can also start offering your services and generate income.
The REO market presents many ways to earn.
However, it is crucial that you get hold of REO listings.
To do that, you have to establish a good relationship with the said manager.
You can find one by registering with banks.
They can provide the contact information you need.
However, it does not stop there.
It is crucial that you learn how to negotiate with one.
This way, you can have a lasting working relationship with him, which assures you better earnings.