CNN just confirmed what we've been saying for the past month. Today they reported that Bank of America, Wells Fargo, Citibank, Chase and Ally Financial all expect a rise in foreclosures after a dip in February due to delays in foreclosure proceedings, adding that "the foreclosure pipeline was beginning to unclog" and they expect "a climb in the number of homes repossessed". (Source: CNN Money) This news means more REO agents will be getting listings soon. How quickly or slowly the REOs are dripped on the open market is up to the banks, but one thing is for sure; they are coming! Find REO Agents.Read the complete article on CNNMoney.com.
Asset Managers can use REOIndsutryDirectory.com to find REO Agents nationwide. Every Agent's profile has a full description of their experience services, website, training, and associations that they are a part of. You'll see service areas. In addition, we verify our featured partners and list them at the top of the search results, where you can see their exact distance to the REO asset or BPO property being assigned. In other others, REO Industry Directory makes it easy for asset managers to search qualified REO brokers, agents, and vendors who can get the job done!When you search our directory, you'll first be directed to our Hybrid View (Large Map and Quick View). You can also view REO experts by our Summary View (More info, less Map). In either case, we empower banks, lenders and asset management companies to quickly find the best REO pros for the job.Search REO Agents
REO Asset Management companies handle the foreclosure inventory for banks and lenders. So for example, Chase Bank hires an asset management company, and they will manage thousands of listings for the bank. The company then divides and conquers, by hiring agents to market and sell the properties for the bank, thus creating the REO listing agent industry, which has become extremely profitable. REO Agents know the key to success is forming relationships with asset managers. Having a good contact can begin to drive ways of new business opportunities. REO Brokers do well selling REOs for banks. You’re given inventory to sell, and it happens to be the hottest inventory on the market, foreclosures, and you’re there to sell them, usually in 15-30 days. It’s exciting to see an industry evolve, and as it grows and molds itself further, we will begin to see agents, brokers and vendors specializing uniquely in the REO field.