What are the NEWEST ASSET MANAGEMENT COMPANIES you can find or have heard that will be needing REO agents??

[John Shipstead]

Yes we all know it's tough to get into most REO departments at this stage. But I don't give up very easily!  Yes I have been trying various personal networking opportunities and it's working and re-contacting the same doors (and emails) I knocked on 1 to 2 years ago.

 

So I have been spending many hours researching NEW companies or mergers of old one's that might get us new business. For instance I have been Googleing and other search engines looking at "Asset Manager jobs"  or "Pre-Marketer" finding who is hiring and seeing if those are new or expanding companies. That always leads me to other things to click on or ideas or other companies to Google. It's kind of FUN actually (kinda like fishing). Ok, yeah I am a bit nuts, but I'm going to get business from being PRO-ACTIVE and helping people too!

 

YOU all need to not only think outside of the box but GET RID OF THE BOX !  You are an REO Agent and we are not normal, so accept that with grace and gratitude and use that as your gift to make a contribution to this world in some positive manner. Sure, the money is nice, so is helping those affected by the Foreclosure Crisis. Help someone first, then be rewarded. You already know this!

 

I can't say exactly all the companies that I have found and would say it has led to at least 8 to 10 new contacts of companies that appear to have potential REO Listings. I will try to make list of the NEW companies I have found in the next few days. I have emailed them all my resume via their "Contact Us" button. I don't even hesitate to send it and ASK directly for the business.

 

Please go out there and SEARCH for all of us in creative ways THEN SHARE what you find.

Thanks!

John Shipstead in the S.F. Bay Area

[Hugo W Meza]

John,

Thanks for the input! I have been doing my own research but for companies that are buying pool of defaulted loans. What other keywords are you using the search them?

[Elizabeth Owens]

Hi Hugo -

I search on google, bing and all the others since you find some on one and some on others without having to dig so much. I've always searched keywords like reo short sale asset management, loss mitigation servicers, default servicing companies, etc.

[Gina Rovere]

I am a REO listing agent and like everyone else have not received as many REO's as in the past. Banks are focusing more on short sales and it is important to get into asset companies that handle short sale. The default industry is changing and we should be adapting to the market and not looking at just REO's!

[Barbara Rodriguez]

Gina,

I agree with you completely. I haven't received the REO's I did in past. Time to start marketing for those short sales!

I thought with Short Sales you need to get in front of the seller as opposed to the Asset Managers. I noticed you state in your comment it's important to get into asset management companies that also handle short sales. I apologize for my ignorance but how come? Doesn't the homeowner choose his/her listing agent?

[Gina Rovere]

Hi Barbara,
The homeowner does choose ultimately, however asset management companies as well as banks give names of experienced agents to the homeowner. You may not always get the listing but it puts you in front of the homeowner. And if the homeowner has a choice of someone with a proven track record or their niece who just got her license, chances are they will choose experience due to the complexity of the transaction.

[Barbara Rodriguez]

Lady,

You are an angel. Not only do you help homeowners but you've helped me :) Thank you for all the helpful information thus far!! Makes total sense. So know how do I go about making myself a recognized as Short Sale agent for the asset management companies? Same way I have gone about trying to get REO business or is there any other method? Some of the companies I work for have been contacting me asking if I do short sales so on and so forth .

Once again thank you!

[Susan Cook, RDCPro, CDPE, SFR]

The short sale comments are true about asset managers/lenders recommending you. I have gotten phone calls from homeowners (on my private cell no less) that have gotten my name directly from their loss mit depts when their loan mods have failed. This has led to some really nice listings. I'm hoping that with HAFA the closings will happen quicker though things have picked up in the past 30 days and we are very hopeful that the 6 month or more waiting for approval days are over.

My partner and I both just got approved through a loan officer for MetLife. Supposedly, (my hesitation is because I've heard this before) we will get assets directly from his office and he gets to put pre-qual requirements on the listing. They will be assigned through res.net. Immediately after we sent our resumes, we received a letter from the REO dept saying we were accepted. Time will tell and I have heard this from everyone lately, Chase, Wells Fargo and Prospect Mortgage to name a few. This is the first time I've gotten a request for a resume and an email within a few weeks of each other so I am more hopeful than before that this will pan out.

[Hugo W Meza]

Hi Susan,

Do you think you could share your contact person at metlife? I am trying to increase my inventory. As you already know, it is very competitive and difficult. My email is [e-mail]

[John Shipstead]

Hi Susan,

Thanks for your input. I am curious if these banks are going to effectively handle short sales better and quicker than they have in the past. My status for Wells just got changed from REO agent to BPO's only, due to "agent saturation". I made a whole discussion topic here on REOPRO about that.

Would you be willing to share your contact person at MetLife? I am already part of Res.net You can send me a private email if you want.

Thank You,
John

[C J James]

Hi John, how did you find out in PAS that your status changed from REO to BPO? curious because I think this may have happened to me.

Yhanks
Craig