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Updated almost 13 years ago on . Most recent reply

User Stats

193
Posts
7
Votes
Scott Ficek
  • Real Estate Agent
  • Minneapolis, MN
7
Votes |
193
Posts

How do you find the REO Asset Manager

Scott Ficek
  • Real Estate Agent
  • Minneapolis, MN
Posted

Even though this is a realtor question, I am hoping this forum can maybe shed some thoughts on this topic.

In the Minneapolis/St. Paul, there are about 5 Realtors that have 90% of all the REO listings. They developed relationships long ago with the asset managers at the banks and simply have new listings faxed to them every day.

I am understand selling REOs are tough because of the upkeep of the property during the listing, but if I could get 1-2 per month, my kids could get that GI Joe action figure they always wanted :roll:

How can I find the REO Asset Managers at the bank and get them to give me shot at listing/selling one of their properties?

Most Popular Reply

User Stats

25
Posts
1
Votes
Replied

Scott, you can go to a data base site such as jigsaw and pay a $ for contact info. Look carefully under Financial Institutions, then Banks, and look for Special Asset Mngrs or Reo Mngrs. You get full details including phone and email. For small nos go for the small to medium banks. Believe it or not lots of small banks have Reo's, but may not have dept managers...Guess what. Get the Ceo info and ask for his/her exec asstnt.

best of luck.
Neil P

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