Becoming an REO Agent

[Janet Freeman]

Hello, I am new to biggerpockets, and I am super excited about all of the available resources from investing to wholesaling in the forums.  I am a licensed real estate agent in the Hampton Roads area of Virginia. I am looking for any information on becoming a reo agent.  I read an older post that had a video, but the post was 8 years old, and the link on the video for BofA is no longer active.  Do you have to register with Equator?  Do you have to go through your broker to register as a vendor to provide services to banks? I would appreciate any information! :-)     

[John Warren]

@Janet Freeman welcome to Bigger Pockets! I looked into this several years back, but opted not to get into it as the REO market here in Chicago seemed to be tough to break into. I know @Mark Ferguson did this very successfully and could weigh in.  I think the biggest problem right now in the REO industry is that there are not many REO properties in a lot of markets. I know I am seeing less and less of them in the Forest Park or Berwyn markets where I am working.