Working with REO companies?
Anyone ever work with REO asset management companies? 
I guess they pick brokers to sell the assets that the bank repos. Kinda makes it sound like they’re handing out listings lol
[{"id": "eu68qpo", "text": "I\u2019ve worked with a REO asset management company before. What is your question? Are they paying brokers to list bank foreclosures? No.", "replies": [], "depth": 1}, {"id": "eu6a4wd", "text": "Great clients, if they're not just clipping coupons and racking fees.  Most I work with will buy at a discount, re-tenant and then sell, which means as a broker we can offer service on the lease up, property management AND sale of the asset.", "replies": [{"id": "eu6ko44", "text": "Yup.  Gotta be set up to hit all the verticals when working with REO if you want to make anything.  Trying to do it as just the list agent is not at all profitable because of all the freebie work you wind up doing to grow and keep the business.  Unless you're working a lot of listings at once, it's a challenge to be profitable.", "replies": [], "depth": 2}], "depth": 1}, {"id": "eu6ge6i", "text": "Do you have an example?  My reo experience is generally first party and we were expected to do pm/valuation and ultimately brokerage.  \n\nId say if an am company gets involved its their listing generally.", "replies": [{"id": "eu6uw0a", "text": "Like say a bank repos a property, then hands it off to the asset management group, then the asset management group selects brokers to list the property. I listened to this guy pitch his program about how to get involved in selling REOs is why I\u2019m asking", "replies": [], "depth": 2}], "depth": 1}, {"id": "eu84jmk", "text": "Usually they like for you to complete a report called BPO.. to help them prices properties, then once you have done enough BPO reports they may assign you listings.. a lot more details that then but that's pretty much how it plays out..you are compensated for your BPO reports and all the listings you receive are full commission!!", "replies": [{"id": "eu84jwz", "text": "Hey, LTREA, just a quick heads-up:  \n**alot** is actually spelled **a lot**. You can remember it by **it is one lot, 'a lot'**.  \nHave a nice day!\n\n^^^^The ^^^^parent ^^^^commenter ^^^^can ^^^^reply ^^^^with ^^^^'delete' ^^^^to ^^^^delete ^^^^this ^^^^comment.", "replies": [], "depth": 2}, {"id": "eu86hfi", "text": "What is your experience?", "replies": [{"id": "eu86znj", "text": "CA Real Estate Appraiser 041145", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]