The mystery of what REO brokers do is covered step by step, so by the end of the course you will leave with a clear understanding of what to do should you choose to work in the REO arena. You will also learn to identify and avoid the mistakes, pitfalls, and obstacles that agents and brokers have encountered when listing and selling REO properties.
Section 1 – Introduction to REOs
Chapter 1 - What is a REO Property?
Chapter 2 - Who can perform REOs?
Chapter 3 - What is an Outsourcer?
Section 2 – The Basics of REOs
Chapter 1 - Get it done on time and Keep it Accurate
Chapter 2 - The challenges of Becoming a REO broker
Chapter 3 - How to work with Asset Managers?
Section 3 - The REO Asset Management Process
Chapter 1 - Initial assignment through securing of property
Chapter 2 - Property preservation and maintenance
Chapter 3 - Role of the Property Preservation Company
Section 4 – Handling Unique Issues with REO Asset Management
Chapter 1 - Code Violations
Chapter 2 - Vacant Property registration; city, county, and state laws and ordinances
Chapter 3 - The BPO and how to value REO assets
Chapter 4 - How to handle Home Owner Association (HOA) rules, regulations and payments
Chapter 5 - Utilities
Chapter 6 - How to submit invoices for reimbursement
Chapter 7 - Maintaining Properties
Section 5 – Listing, Sale, and Management of REOs
Chapter 1 - The REO Listing Agreement
Chapter 2 - Marketing Strategies – “As-Is” sale
Chapter 3 - How to Process REO Offers and An offer has been accepted, now what?
Chapter 4 - Managing properties under contract all the way through closing and Monthly Marketing Reports
Chapter 5 - Understanding Risk Management and Liability
Chapter 6 - How REO Brokers are evaluated and scored