Home > Income Generating Tools > How to Become a Reo Agent – Generating Reo Leads

How to Become a Reo Agent – Generating Reo Leads

Getting into the world of REO’s and generating consistent, REO leads is one of the best ways to guarantee a constant flow of income for your Real Estate business. The following is a list of tips and tricks the top agents have used to start and grow their REO and BPO business.

Using these steps and HARD WORK, you can dominate the REO and BPO market in your market.

Step 1: Find The REO Banks

You can be the best agent in the world, but if the banks, asset managers and lenders don’t know about you, you will never earn a cent. You need to start by finding an up to date, quality list of companies that need REO agents.

You can start by calling local banks, lenders etc, but the fastest way to break into the REO business is to purchase a list from a reputable provider. Much time should be spent on finding the right list. The best REO / BPO Bank list is HERE. Use it!

Remember, if you don’t focus on the right REO leads, the next steps are worthless.

Step 2: Impress The REO Leads

Most agents will simply email or call the REO leads and request to be added to their list of authorized providers. WRONG!

In this market, these banks and lenders are getting dozens of these calls every single day. You need to be stand out!

The key to being remembered is treating the REO leads like you would any other, high value real estate client:

  • Email them weekly/monthly with stats on your market
  • Mail them promotional items with your name / logo / contact information
  • Mail them every month with a unique item (holiday postcard, sports schedule, etc)

This one simple step will put you far above the rest of your competition!

Step 3: When you get a REO Client, WOW Them!

Most asset managers have literally hundreds of REO’s they issue every week. If you can get them to remember your REO listing and your name, you will get the next REO lead they have in your market area.

  • Personally email your client and Thank them for assigning you the REO.
  • Send them a Hand Written thank you card
  • Do a great job on your REO (many agents forget this step)
  • Market your reo and send your client updates

A thank you card can go a long way to helping a REO client remember you and provide you future REO leads!

Step 4: Use the right REO tools:

Many of the daily tasks of a REO agent can be repetitive. Using the right REO tools can help you spend your time on the tasks that turn your REO leads into REO income.

The best site to review the available REO agent tools can be found HERE

Step 5: Repeat

Getting into the REO business is hard work, but if you follow the above steps, you wil be amazed at the results you can achieve.


Brian Anthony

  1. Anonymous
    May 25th, 2012 at 22:30 | #1

    What is the best way for an Insurance Agent to become visible online and generate more leads?
    I am an Insurance Agent and I am constantly looking for easy ways to promote myself online. My most recent concern is generating leads. How can this be done quickly and effectively?

  2. Top Insurance People
    May 26th, 2012 at 03:32 | #2

    You can use managed services such as http://www.topinsurancepeople.com

    They set up social networking accounts for you, a personalized web page, and a fully managed blog.
    References :

  3. ahboy22
    May 26th, 2012 at 03:34 | #3

    It comes down to 2 things basically? Do you have money or time? If oyu have time then here are some great suggestions to help you.

    You can try to create a Facebook fanpage which is free. Get people to join your fan page on Facebook & Twitter. Send weekly or monthly reports, articles, newsletter or tips to your followers & fans.

    Example. "This week here are 5 tips (e-mail/articles/report) how to avoid being scam by Insurance agent when buying a homeowner policy. "

    Next Week, "Do you know what is the difference between comprehensive,collision & liability coverage means on your auto insurance? "

    Following week, "How to buy the right life insurance for you & your family."

    These might seem like general knowledge to you, but there are many people that would really appreciate you sharing this information.

    Doing this will position yourself as the expert when it comes to insurance. In addition, this helps to build trust & credibility. Having fans & followers could easily means tons of referrals once people start to call you & ask questions. Lots of potential to drive online prospect & convert to customers.

    If you do not have time then you could consider hiring a SEO company that specialize din lead generation or result driven SEO services. Many if not all SEO consultants will take your money while sitting on their chair comfortably & scare you by making simple things sounds complicated.
    Therefore, you need to pay even more money for them to help you. Hire SEO company that can help you rank your web page on the 1st page of Google, Yahoo & Bing.
    References :
    Or You Could Consider Hiring A SEO company specialized in helping local businesses to generate online traffic or leads to your website.
    ? http://www.wondroustime.com/about/
    ? http://www.prlog.org/10955528-san-jose-seo-company-provide-small-business-seo-services-that-gets-better-roi-than-yellowpages-ads.html

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