Profit From REO
The real estate industry has not recovered as expected. This is what worries the real estate agents. If it does not get better soon, they will surely need to look into other professions. However, not all is lost. There are still opportunities waiting to be explored. One of them is the real estate owned or the REO market. If you have been observing closely and actively searching for means to earn, you may have probably encountered the REO business. If you have not, well, it is never too late.
The REO Market:
In the past couple of years, lenders have been collecting foreclosed properties. Most borrowers failed to pay their mortgage, unable to agree on a work out plan or did not keep their part of the bargain. Such ordeals have left lenders with tons of repossessed properties. Unfortunately, they will not profit from these properties unless they sell them; a perfect job for the real estate agents.
How will the agent profit from this?
The REO market continues to grow. This means the demand for the services of real estate agents will also grow. In order to start earning, learn how to become an REO listing agent first. It is important that you know how to list REO blog as well. Having access to the REO list is crucial in making sure that you start earning. Very few have access to the REO lists. If you only rely on what is readily available, you will be competing against a lot of agents, therefore, not maximizing the full earning potential of the REO business.
You can check out Trulia REO blog for more information on how to become a good REO agent. You will also have the information you need from the book, REO Boom. The book will give you an action plan as to how you can get started and how you can stay earning in the business. You will also have an in depth understanding of the needs of your clients and how you can address those needs to start profiting from the market.
One of the profiting mechanisms of REO is the BPO (Broker’s Price Opinion). This is a report that lenders rely on to value their REO properties. A real estate blog can detail how to assess and value properties, but it requires expertise and diligence to be able to accurately value properties while relying only on the location and the features of the house. An agent is paid by the BPO he makes. If you are an expert in BPO, you will earn significantly.
Lenders will also need people to maintain the properties. Sometimes, they need to be repaired and updated to improve chances of a sale. This is another opportunity that agents can exploit. They can even work with contractors and builders for these projects.
If you want to learn about the other ways to profit from the REO market, grab a copy of the REO Boom and discover the secrets of Aram and Tim Shah. Once you unlock the strategies used by these experienced REO agents, you can ascertain success.
