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REO Simplified

REO Simplified

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Course Credit Hrs.
REO Simplified 3.00
Description
Outline
Instructor
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  • 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.
  • 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
  • Subject Matter Expert:
    James Browning


    James Browning is a national instructor/speaker for several organizations and has designed and developed five courses related to the valuation and disposition of both commercial and residential properties, and how to value distressed assets in today’s market. He has a Master’s Degree in Real Estate and holds numerous designations.

    James was a former commercial director for a national real estate company for 17 years during his 24 year real estate career. In 2009, James established the REO Institute of Colorado to provide BPO and REO training to real estate professionals. You will find James has an excellent understanding of today’s real estate market, along with thorough knowledge of both the commercial and residential sectors.

    Instructor: Jim Luger
    Jim Luger has been a broker and instructor for over 30 years. He is a member of the Real Estate Educators Association, and is certified as an online instructor by the International Distance Education Certification Center (IDECC). You can contact Jim at Jim@ContinuingEdExpress.com.

Requirements


Visit the Rhode Island Department of Business Regulation website for more information about continuing education requirements.

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