Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Good Ideas
Nusetlock.com




REO Prep Foreclosure Listings




BPO REO Secret System




How To Advertise Here

More Good Ideas!
real estate newsletters


Real Estate Websites for Realtors




Build your brand on a Real Estate Site





Facebook
Topic Options
Rate This Topic
#203684 - 02/17/08 06:50 PM Good and Bad REO Companies
ldeebug Offline
Junior Member

Registered: 02/17/08
Posts: 2
Loc: California
I have wondered for a while how to break into the REO business. I was LUCKY! I knew someone who recently got me in with Countrywide. By talking to other REO agents, CHL seems to be one of the best to work with. They have (in CA) a service to do the re-key, trash out, and maintain the property. No up front $ on my part other than utilities.

I talked to an agent doing REO's for Wells Fargo and they owed her over $4k because they were very slow in paying her for up front costs. Does anyone have any companies they recommend staying away from and/or great companies to sell REO’s for?

I listed my first 2 CHL properties last weekend and put them both into escrow with SIGNED acceptance on Friday. Both had multiple offers- both had a low and at least one over asking price offer.

There is another agent in my area getting a lot of World Savings REO’s. Anyone know if they are good to work with?

Top
#203691 - 02/17/08 07:24 PM Re: Good and Bad REO Companies [Re: ldeebug]
TB in TX Offline
Major Contributor

Registered: 08/16/07
Posts: 2813
Loc: X
Should we send you all of our contacts and their information, or just our REO client lists?

Top
#203694 - 02/17/08 07:32 PM Re: Good and Bad REO Companies [Re: TB in TX]
UpNorthGal Offline
Veteran Member

Registered: 01/06/08
Posts: 664
Loc: MN
WOW,I'm amazed by all the people that ask these questions.I think I searched the forum for about a year as "anonymous" before I ever posted anything.I did my research, and you should too. I have no problem with networking, swapping one client for another as long as you are established in this business or know a good client. Nobody on here is just going to hand that information over.Sorry

Top
#203697 - 02/17/08 07:46 PM Re: Good and Bad REO Companies [Re: UpNorthGal]
ldeebug Offline
Junior Member

Registered: 02/17/08
Posts: 2
Loc: California
I'm not in fairy land. I didn't ask for contacts or lists. I am just asking for those more experienced in the REO world to share bad or good experiences with different companies. I have been in the real estate business for 13 years and am always happy to help a newer agent avoid pitfalls. No, I don't give my secrets away, but I do help them with what to avoid. I thought maybe this forum might be willing to share from their REO experience some pitfalls or successes with different companies. We all know what happens when we ASSUME something. I guess you all made one out of me.

Top
#203698 - 02/17/08 07:52 PM Re: Good and Bad REO Companies [Re: ldeebug]
Ben34105 Offline
Ubiquitous Mod
Major Contributor

Registered: 02/25/05
Posts: 2231
Loc: Florida


Top
#203701 - 02/17/08 08:01 PM Re: Good and Bad REO Companies [Re: ldeebug]
KT Offline
Major Contributor

Registered: 01/18/05
Posts: 1524
Loc: Ohio
There are pleanty of good and bad experiences listed throught this forum already. Perhaps if you had read the READ BEFORE YOU POST STICKIES located at the top of the forum, you'd have realized that.

There are even threads already started on here called... you guessed it! Good and bad co's to work for. Now, had you done a Search before you posted, also explained in said STICKY POSTS, you'd have known that as well.

We're really not mean. We're just tired of people asking the same q's day after day, without bothering to do the research that we all did. Look down about 5 threads from this one, and you'll see almost the exact same question.

Top
#203712 - 02/17/08 08:46 PM Re: Good and Bad REO Companies [Re: ldeebug]
birdwatcher Offline
Veteran Member

Registered: 05/16/06
Posts: 712
Loc: USA
 Originally Posted By: ldeebug
I have wondered for a while how to break into the REO business. I was LUCKY! I knew someone who recently got me in with Countrywide. By talking to other REO agents, CHL seems to be one of the best to work with. They have (in CA) a service to do the re-key, trash out, and maintain the property. No up front $ on my part other than utilities.

I talked to an agent doing REO's for Wells Fargo and they owed her over $4k because they were very slow in paying her for up front costs. Does anyone have any companies they recommend staying away from and/or great companies to sell REO’s for?

I listed my first 2 CHL properties last weekend and put them both into escrow with SIGNED acceptance on Friday. Both had multiple offers- both had a low and at least one over asking price offer.

There is another agent in my area getting a lot of World Savings REO’s. Anyone know if they are good to work with?



If you get me in with Countrywide REO I'll share what I have with you.

Top
#203753 - 02/17/08 11:20 PM Re: Good and Bad REO Companies [Re: birdwatcher]
Houston Agent Offline
Major Contributor

Registered: 01/26/05
Posts: 2051
Loc: Houston
Isn't that strange how the first post and subsequent posts have a different font? Almost like a cut and paste, but surely it's not. RIght????

Top
#203755 - 02/17/08 11:40 PM Re: Good and Bad REO Companies [Re: Houston Agent]
UpNorthGal Offline
Veteran Member

Registered: 01/06/08
Posts: 664
Loc: MN
haha,I never noticed that

Top
#203768 - 02/18/08 01:26 AM Re: Good and Bad REO Companies [Re: UpNorthGal]
Delicious Cake Offline
Major Contributor

Registered: 12/10/05
Posts: 2702
Loc: CA
I noticed it. But we can change the font.

We just don't because we use the quick reply since we all post so much.

Top
#203848 - 02/18/08 11:18 AM Re: Good and Bad REO Companies [Re: Delicious Cake]
SLO Broker Offline
BANNED
Veteran Member

Registered: 10/16/07
Posts: 662
Loc: California
Ben ...........

Is that horse getting hammered ..........

Or are they horsing around ...........

Or is that a gang bang .........

Top
#203858 - 02/18/08 11:47 AM Re: Good and Bad REO Companies [Re: SLO Broker]
neudot Offline
Major Contributor

Registered: 11/02/07
Posts: 1753
Loc: Central New York
Ummmmmm....ever hear of the futility of beating a dead horse?

Top






Moderator:  jbt4re 
Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Good Ideas!
real estate newsletters




How To Advertise Here

Sponsors

Newest Members
Nilufar Yeasmin, realtor525, relator52512, JThompson51, Josh Parks
21435 Registered Users
Who's Online
1 registered (Nilufar Yeasmin), 115 Guests and 0 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Vermont 83
KingofBPOs 53
Brit16 51
shurdul 45
DueDiligence 44
Bigtoe 35
johnnyloans 34
Averis 34
Kjmendy 33
SoldWithVideo 32
super realtor 31
RIzwan 28
Doin' bpose 28
75Corvette 26
Scintillion 25
(Views)Popular Topics
No new orders today 4746962
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 2697216
Stupid MLS comments. 957535
EML 458010
Evalonline 299689
What do you know about Froy Candelario, top agent in USA 290462
Land America 285007
New HUD Listing Brokers---Any Update? 268874
Mainstreet 261768
Pay it Forward - BPO/REO Tips & Tricks I & II 239031
Stupid QC comments and BPO requirements. 229698
Is there religious content in Buffini class? 225444
FARVV 177251
REOTRANS 160637
USRES / RES.NET 147658
Let's talk about our cars 147169
asset val seminar in colorado 143993
AVM Bpos 139642
FARVV 126764
PAS 118332
Featured Member
Registered: 11/15/06
Posts: 2050

How To Advertise Here


This site presented by RNC Internet Services