Well, I'm not a big dipper in my local pond. I get a few REOs here and there and I do my best to market them effectively. That said, I inherited an REO from a big shot out of the area broker earlier this year. I didn't realize it as I slogged through 3 feet of snow to put up the for sale signs that it had already been listed for a month. No for sale sign on the property. I had a phone call waiting for me on my cell when I got back in my car. A neighbor had been waiting for this listing. It was sold on Day 1, in 5 minutes. Only later did I discover (because the same property was concurrently showing on Realtor.com) that another agent had already listed it.
Well, upshot to the story, I had a phone call last week from the same asset manager, would I handle an REO about 100 miles away from me. I don't attempt that kind of distance. I told her to go back to Realtor #1 from my other listing, as that's his local turf.
"We don't want to use him again," was her reply.