Start with the sign up section for REO/BPO at the top of the menu (to the right). There you will find all the companies that does either REO, BPO or both.
Make sure you have all your documents scanned and ready to email in pdf format (License, E&O, W-9 mainly, but some ask for resume and references). Also, have a word document of all your zip codes, cities, counties so you can cut and paste them quickly.
Read up on how to do a BPO and what it takes to manage an REO listing. Courses can be bought, but I suggest you start someplace in this forum if money is tight. Some have used BPO's to fund REO education, other's just dart from the gates and never looked back.
Read the forums for anyone sharing information, their experiences with companies and other stories that may help your journey. Also, never fear asking a question in this forum area, people are always willing to help out and pay it forward.
Sima... You will have to start doing BPOs to get your foot in the REO business. I bet 99% of us on this board all started by doing BPOs for awhile before we saw our first REO business. Give quality evaulations and have them turned in time to your client. To get the best bang for your BPO, try signing up with companies that do both BPOs and REOs. This way, once you score high with them on the BPOs, they will in turn give your REO assets.
Johnny mentions to have all your DOCs scanned for uploading. The Zipcode Word DOC is a time saver. You will see what we mean when you start filling out these applications. GOOD LUCK !!!
Sima, some of the companies you sign up with will cost. This does not guarentee you business so unless you have the fiinances stay away from these. Sometimes to get your foot in the door this late in the game you might need to be creative. Offering free services to show your ability might work. Once you are signed up, the old addage the squeaky wheel gets greased comes to mind. Go into the ask the AM forum on this sight. It is full of information.
It's a normal process that every good real estate agent has to do. PROSPECTING, FOLLOW UPs, KNOWLEDGE, BEST RESOULTS ON THE TASKS.
Read/Research as much as possible. This forum will give you a huge knowledge. I'm new to reos, I've applied same principles and was able to break in to it.
Blessings to you.
1. There is a tab on the left hand corner of this page that says "BPOREO Sign ups" click on it and spend a few days signing up with all those companies.
2. Create a spread sheet to keep track of the bpos when they come.
3. Do not pay for those reo systems, coaches, universities, list, etc. if they solicit you don't pay, the real companies don't solicit, you have to be the one soliciting them.
4. Take a class from a legit company like default school or five star.
5. Read this blog and make your good companies list and the bad companies list.
6. Save money and go to a conference, Five Star or REOMAC.
7. Be PATIENT AND PERSISTANT
I few weeks ago, I wrote a frustrated discussion called "OCWEN-HOMEQ-PAS-ETC THERES GOTTA BE A WAY IN??????" Not that it was more than a vent, but I(we) received a very detailed.... super amazing response from Tony Linton, who happens to be and AMAZING REO REALTOR and more.
He patiently wrote out a great and informative response to my "VENT"... pls, look up that discussion and read it from begining to end.... its SOOO full of information and explanation, your head will spin with ideas.
Ive been at this 7 yrs and I didnt realize how difficult it would be to break open my own accounts... ( My ex-broker/husband had them all in his name).... needless to say----- Ive climbed through windows.... , filed police reports, drilled out locks in the hot Florida sun.... and firmly controlled all contracts from "hello"..... and I couldnt break certain accounts..... still can't lololol--- Its a long process to learn.,.... and the way laws and reo's keep changing..... it will ALWAYS be a learning process.... start with that entire discussion.... there are quite a few more inside reo pro as well... you've come to the rt place.... READ READ READ--and you'll do well!!!
Good Luck to YOU!!!