I have been trying to  get listings of Foreclosed properties. I have done many free  BPO assignments for that purpose, still no luck.

If  somene give me  advice  I really appreciate it?  

You've got to become an REO agent.  Contact some banks and ask to speak to their REO units.  Then find out what it takes to get into their REO program.  Some (many) require that you take some form of training course concerning how they want their REO brokers to function.  I can tell you that it won't be easy getting into the various REO programs and that it may take a long time, but keep at it and you might eventually get some listings.

Thank you, I will keep trying and let the members know what happens...

Don't do free BPOs. Your expertise is worth at least the standard $50 bucks or so. Search the internet for companies that will pay you for your work, then sign up with the ones that also do REOs.

I would just offer: be careful of what you wish for... you may get it. Listing foreclosures requires a special skill set and attitude.

Good advice Walt...
 

Listing foreclosures not only requires a certain skill set and attitude; but they may also require some "bankrolling".

In many cases, the agent is responsible for paying for securing the property, winterization, utilities, repairs, etc. Then you have to wait to be reimbursed. Sometimes you wait months. There are even occassions the reimbursement never comes!

Read the blogs "Can Anyone Be An REO Broker?" and "What Skills Does It Take To Be An REO Broker".

True, Betty... for me personally it is more about the sort of clients I choose to work with and be associated with. It's interesting that most of us wouldn't tolerate the things these REO companies require of agents -- not to mention buyers -- from a "normal" client.

I'd strongly suggest representing an inexperienced buyer who's purchasing a foreclosure before deciding to "go after" these listings. It will be an education.

You may want to join some of the online REO searches. REOtrans comes to mind. It's a small pay per click site set up by by zipcodes you register under. You can post your skill set and offer up services to the various banks listed with this particular REO vendor.  I have done three BPO's and received one listing. Not bad for three months in the system, but I do compete with a lot of other brokers in my locale and it is highly competitive.

(I'll go with the 'be careful what you wish for' guy)... this is a different part of the business.

Try to find someone who already does REOs to minimize the pitfalls. The pitfalls seem to be either financial or mental/emotional wear and tear.

Financial: most asset companies will expect you to pay vendors for work and re-imburse you after the fact. Keep records and always get pre-approval for work.

Mental/emotional wear and tear: the first task is usually 'establish occupancy' which means you go to the house and knock on the door and make sure that any occupants are aware of the fact that they must leave, (not actually doing eviction as that is a different/legal function), but dealing with the people who have lost their home nevertheless.

It is interesting, challenging work but as a friend of mine used to say, 'its not for everyone'.