Carter Snipes is speaking my language.
He already knows and has experienced firsthand what I’ve been saying.
If you’re an REO broker or an aspiring REO broker, go local.
It seems like everyone wants to line up to pay to be on a list so that someday so that they can maybe hope to get a listing from a bank that was assigned through a special servicer… where you have no relationship and no control…. stop.
What happened to finding and servicing a client where there’s a working relationship and trust?
There are 4,354 banks with residential REO and 3,812 banks with commercial REO…. some of them are near you. Call one.
“We have focused our REO business primarily on local banks and commercial real estate divisions. So our contacts and Asset Managers are all local or at least regional and are typically handling smaller portfolios. With these local contacts the process is much more individualized and relationship oriented.”
“If you’re an agent and you want to get into listing foreclosures and REO properties at this point in the game, I’d recommend focusing exclusively on local bank contacts.”