I do a ton of BPO work, but wondering if it is too late to get in the foreclosure game to gain some REO's seeing that things have become a little better (however lately seems like encountering more foreclosures again doing BPO's). I don't know which AMC'S ARE THE BEST, whom should I pay to sign up with? will I really get a listing?? is it worth it it? you have to outlay hundreds of dollars upfront a lot of times in managing them...any input is appreciated? BTW in NH and Mass market places....tks
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Not sure how the real estate market is in your area, but I'm in SoCal and the REO market here is just a trickle now.
Don't waste your money on companies that claim they can get you in with the asset managers for a small sign up fee. Plus understand that should you get an REO, you will need to put out a lot of up front funds to keep the utilities on and in some areas you also need to register the home with the local city as being a bank owned property. Many agents think that selling REOs is easy money and soon get out after 2 or 3 REOs because they don't have the up front money to manage several properties at a time and their broker won't put out the money or even support them. I sold REOs for the real estate arm of Carrington Mortgage when it use to be called Atlantic & Pacific. Now it's called Carrington Real Estate. At least then I had broker support.
Listing REOs has it's rewards, but it also takes work and money.
tks Willy yes i know it takes money and is a whole different animal to itself.........just trying to figure out were to put my resources in order to gain some more sales...as I have not been a huge RE sales guy throughout my career, between doing so many appraisals/and BPO's as well as some insurance too....I would really like my sales to go to another level.....love to to sell in SoCal or NYC, that would be fun, but I'm sure as with any place it takes hard work dedication and good connections...tks for the input
Don't pay. It has never worked for us and we have been an experienced team for 7 - 8 years.
If you aren't in REO now, you may just want to focus on trad RE. I'm still selling REO cause we already have the clients and MD is getting hammered with REO right now.
It is a business in its own respect,,,thanks for the input...but who are your best sources certain AMC's or? Without paying as you suggest has never worked. I'm just wondering....obviously I'm no competition to you being in the NH and Mass markets...although I probably won't get involved still would be nice to be informed...tks again.