Case Study: I know an agent who listed a great REO Listing simply because he called the bank. It was a large national bank. He called their 800# and asked for the REO department.
He gave the REO Department the property address and they referred him to the rep handling the property. The rep had already contacted their designated listing agent.
But, since their designated listing agent hadn’t gotten back to them yet – and this agent seemed hungry for the business, he gave it to this agent instead. It resulted in a nice listing for him.
How to do it: Follow the steps below to get these listings. We will build more “in-depth” training on each of the steps soon.
Step #1. Make a list of all the local banks and credit unions in your area.
Step #2. Call those banks/credit unions and ask for the REO Department. Find the name of the person(s) working in the department.
Ask them for their address so you can mail them some marketing material. (Most won’t say “No.” After all they are always in the market for a good agent.)
Step #3. Mail them a copy of your book.
Step #4. Follow up. You may not get a listing right away. But, you will get listings if you follow up. And, if you do a good job for them, you can build a nice referral source.