If you’re an REO agent who wants more listings, get ready because the market is heating up! It’s time to register for bank REOs. Banks are holding on to record amounts of foreclosures and have been waiting for markets to stabilize before they release them. Well, that time has come, the second half of 2011 and the first half of 2012 should prove to be fruitful for REO Brokers and vendors. The housing market has stopped sliding down the mountain, and home prices have stabilized. Government lending programs are about to become easier to qualify for, which means more people will be able to buy properties, 50% of which are bank owned or short sales. Next, banks need to sell the current REOs they have in their books to get money back which they can then use to lend to new buyers and to please wall street, so that should also accelerate the rate at which asset management companies assign REO listings to Realtors. It’s time to get ready, get trained, get motivated and get excited because the default servicing industry is about to receive a major boost in the coming year!
Join today and be one step closer. Become an REO Agent!