Income Tool Time

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.

DON’T QUIT!

Brian Anthony