REOPro - Real Estate Default Professionals

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REO listing assignment limits to radius

             I am sure you've heard stories about an REO agent in San Diego getting a listing assignment in Los Angeles, I am just really curious to see how many mile radius the asset management companies/banks are limiting you to I have had some companies cut back from 30 to 15 miles from office. Does anyone use their home address? If so how do they get away with it? I would like to hear seom of your feedback. Thanks, wish you all a productive 2011.


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Comment by C J Johnson, Broker/SFR/CRS/ABR on January 3, 2011 at 6:48pm
I attended a meeting for all the new HUD REO "Local Listing Brokers" at their new BLB in the fall and heard the same old no more than 10-20 miles from your office story and low and behold I was passed over for assignments 1-2 miles from my office while two brokers from 60 miles away were given multiple listings.  It is not that they are using their home address it is that the vendor managers are simply not checking their radius.  Kind of simple if you just go on to Google maps so perhaps they are simply using the same brokers they already were using but now they are at different companies. 
Comment by Bonnie L. Lombardi on December 30, 2010 at 12:02pm
One of my banks only allows for a 5 mile radius from the office.  If there is no one approved with them in that radius, they have lengthy paperwork to complete in order to assign the asset.

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