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I did get my first REO from the ordering company(Bank) for the BPO and got my 1st REO listing. I was stating on my BPO's I work REO's and figure that is how they assigned me 3 listings within 2 weeks, this was 2 months into my start of doing any BPO's 5 years ago......this same company is no longer handling their REO's but sent to an outsourcer so no reason for me to mention which company name....figured just my luck! LOL.....My 2nd company however is USRES....did like 60 BPO's and called them one day, said hey, where's my listings?? LOL sure enough, I got 4 from them....now I barely do BPO's anymore, only for a select few companies......
Thanks Michele. I guess the next obvious follow up question for everyone would be:
Who currently gives you the most REO business? If you'd prefer not to post this publicly, I understand. I'd appreciate a direct message if you would be so inclined ...Mike(at)rockrealtywi.com
I want to make sure I'm working with the best companies to obtain REO's.
My first company was OCWEN, I did several bpos for them and they gave me my first listing. Now my experience is that bpos don't lead directly to listings anymore, there are too many mills and agents doing bpos, I know USRES you have to do several free bpos before they start giving you listings, and there are some smaller AM who only deal with hedge funds and/or investors who will ask you for free bpos and if their client acquires the property then you might get the listing.
PNC as I was a member of Res.net.