I really don't believe that BPOs will necessarily lead to REOs in todays market. I only perform BPOs for the companies that currently list with me. With all the new agents that came abord in the last 5-6 years there's an oversupply of agents. That has more or less flooded the market. The same applies to BPO mills, an oversupply. It's kind of a bidding war in reverse. As far as breaking in to the REO market, that's even tougher. You'll need to consider going to work for an experienced REO agent to learn the nuances of that market or spend a lot of time networking with REO agents at confereces. It will take time and money to learn the ropes. The scenario you lay out is that you expect to compete with folks that have 10-20-30 years experience in REOs while you admit you have no REO experience. Place yourself in the banks position. Who would you hire? The vetted agent or the new dude. I'm not stating what folks think is fair, what folks think is right, I'm stating what IS. These banks want proven results not promises or theoreticals.

I think the OP needs to understand that there are in essence two types of companies that distribute BPOs. The most common is the ordinary mill that cranks out BPOs to agents in their system.

The second and less common are the companies that not only have a fee paying BPO department, but also have a REO division. Out of respect to my REO brethren, I am not going to come out and drop a few names. However if the OP really wants to try and break-in to the REO game, he should search threads on this board and piece together which companies he should target that also hand out listings. You can do BPOs until you are blue in the face for a company like Proteck, and I guarantee you won’t ever get an REO out of it.

Be careful what you wish for BTW. As some have already told you, the REO niche is tough! If you are already established as a property manager, I'm curious why you want to make the switch?

Haven't you heard? It's easy money. Just ask any non-REO agent.

Grampa you forget Its "BIG" easy money, we are just sittin at the desk talking with the bank.

And writing checks! I get that from some of the wanna be's right here in my brokerage...that's what they think I do all day!