Student Question Of The Week: Why Am I Not Getting Any REO Listings?
Student Question Of The Week:
“Coach Tim,
I am a REO listing agent…in Atlanta. I have successfully sold 50+ REOs for different asset managers. Recently, I have been receiving fewer BPO assignments and REO listings. I have asked them why and they told me that my grade was low and that I need to improve…what does this mean?”
Byron, Atlanta GA.”
Answer:
The Asset Managers ARE scoring your work, they are keeping records how you ’score or grade’ when it comes to BPO’s and REO Listings.
Why does your grade matter?
1) If you have a low grade…they won’t send you BPO requests. That means less short term money from the BPOs and no chance of ever getting any REOs.
2) If you have assets…REO listings…and you score/ grade low. They will literally cancel your listing and reassign that listing to another agent.
3) When banks are doing reassignments they will reassign their listings to agents with higher grades/ higher scores.
Realtors, its NOT too late for you to become a REO listing agent. If were a REO Listing Agent and are no longer receiving any assignments…chances are you need to learn the new rules for REOs. Watch the FREE Agent REO Secrets video and then grab your FREE Agent REO Secrets book.
Here is an actual grade report on a REO Listing Agent. Look at this report to learn and understand what the lenders are focusing on….
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