Posted by Eric - GA on October 26, 2003 at 20:25:44:
Yes, you can do this. First, find out who is listing the REOs. You want to do this by finding properties that say “bank owned” on the signs, or by following foreclosures that you know will go back to the banks (not HUD)…and seeing who ends up listing them. Many brokerages have a few agents as a team that list properties for several banks and institutions. The agents may already be putting together a list of properties, or may be willing to start. You shouldn’t feel like you’re trying to talk them into this…eventually, it should pay off for them. They’ll probably be willing to do this, if you’ll establish a relationship with them, and place offers through them.
Currently, I get a whole list of the foreclosures a certain brokerage will be handling before they even have a price, and sometimes before the properties are foreclosed on. They know these things in advance so they can get the move on once everything is settled. That’s what you want.
Eric - GA