Hi everyone,can someone please tell me how to go about finding listing agents on REOs.Mainly on shirt pocket or pre listings and how to find out who owns shadow inventory.Thanks so much, Nate
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Hi everyone,can someone please tell me how to go about finding listing agents on REOs.Mainly on shirt pocket or pre listings and how to find out who owns shadow inventory.Thanks so much, Nate
I guess that was not a good question.
If it was a stupid question,were can I find this information?
Talk to people at your local REI meetings. Most of the major listing agents for the big lenders are well known. Call or mail the major lenders REO departments and ask for the contact information for the listing agents they use in your area!! Start using that gray matter between your ears!!
Pocket listing are NOT given out to people that have not closed many, many deals. Or they are given to investors with LARGE sums of capitol.
Most banks are now requiring their properties be listed on the MLS before any offers are accepted. UNLESS you have large amounts of capitol and can purchase REOs in bulk.
Banks own the so called shadow inventory. I do know your chances of getting something directly from the lender are way better when you are asking about a specific property and can make them an offer on the spot. IF you can contact the asset manager directly.
I am trying a new technique this week on getting an offer accepted from an asset manager on an unlisted vacant bank owned property.("shadow inventory") We will see.
Small banks and credit unions offer the best chance of getting a pre list deal I think. But those are few and far between also. Lots of research and legwork required, but can be worth the trouble.
Michael Mangham
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
I will use the grey matter!!!There are sevral vacant housea in my neiborhood with lock boxes and no sighns.I just thought there might be a easy way to find the listing agent.I guess the first step is to find out what bank owns them?
yes. great idea. I also recently talk to sb in Freddie mac about shadow inventory and it does go well. But I have more luck with credit union. We will see what turns up.