subject: How To Influence Broker Price Opinions - Why Lenders Need REO Agents [print this page] Why Lenders Need REO Agents Why Lenders Need REO Agents
Most agents don't fully understand why lenders need REO agents. They don't comprehend that listing REO homes requires an agent intimately familiar with the local real estate market the foreclosed home resides in. This area expertise allows lenders to quickly learn the true value of a property.
Without the REO agent's valuable market knowledge, lenders and banks would be forced to hire and rely on appraisers for a home's value, a management company's services to maintain the home while it's listed on the market and an auction company to market and sell the foreclosed home. How To Influence Broker Price Opinions
How to Become an REO Agent
Due to the sudden increase in bank foreclosures, many real estate agents are struggling to learn how to become an REO agent and start listing reo homes for lenders. While listingREO homes for lenders can entail a great deal of work, especially early in your REO career, it can also be a very profitable real estate specialty.
The good news for agents is that with some hard work, any licensed real estate agent can become an REO agent. There are no required certifications or licenses to begin listingREO homes for lenders. You only need to know which lenders to contact and how to sign up with those lenders. There are a few good services available that provide agents with comprehensive, up to date lists of lenders that can help you become an REO agent immediately.
Benefits of Becoming an REO Agent
While most agents know that becoming an REO agent can mean increased income, many of the agentsthat are considering a career listingREO homes for lenders fail to understand all of the benefits that come with it. Obtaining REO listings can mean a stream of potential buyers calling off your yard signs and advertisements. You can never have too many buyers. In addition, listing a foreclosed home can allow you to begin listing other homes in the same neighborhood as your lender owned homes.
If you are considering listing reo homes for lenders, there has never been a better time to get into the market. Find a good lender and bank list and become an REO agent today!
