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TCnbc Magazine - 15
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for signatures. Buyers agents who have lost the bid, must be called, bearing in mind that for each property, there can be only one winner! Who gets the property, is not up to the REO agent but the lender and decisions are final, unless the buyer walks away, in which case the whole process begins again! Still, dealing with disappointed agents is a daily occurence and not one to look forward to.
For those agents still wishing to get into REO sales, let me say this: you're probably too late as lenders have a long list of trusted agents and an even longer waiting list of agents waiting for present agents to drop the ball! Missing a 24 hour deadling or failure to submit a report on time is cause for termination and therefore REO agents work 24/7 (Remember that REO leads are computer generated and don't have weekends or public holidays!)
Being an REO agent is an unforgiving position and certainly not condusive to parents who have the responsibility of family pressures and does not allow for vacations or illness and unless you are prepared to work in high volume (40 - 50 files at a time), you will probably find that REO is not a lucrative avenue for you.
Contact Susan Burton Columbo at 772-528-1504 for expert REO and Short Sale advice
(772) 872-6072