How do I qualify to do real estate listings on foreclosures?

Candance H asked:

I am in real estate and want to do know how I contact banks to be one of their foreclosure listers.

April 2nd, 2007 |

3 Responses to “How do I qualify to do real estate listings on foreclosures?”

Stacy
April 5th, 2007 at 12:02 pm

Call them and ask who you need to talk to.
Landlord
April 6th, 2007 at 10:08 am

Your broker is the one that needs to set up that contract. You do not have the authority to do so. They will not talk to an agent, it has to be with someone whoever is liable for the contract (which is your broker).
frankie b
April 6th, 2007 at 11:28 am

You need your broker to get them to agree to do business with your office and you. Just a a heads up, you need to have a lot of capital on hand to do these. In my area it is the agents responsibility to pay to have it boarded up, winterized, cleaned out etc. On average you will be laying out 3-4k on each one. They will reimburse you for your cost when you sell, or it expires. You how ever need to pay all these upfront. So imagine you get 10 listings…great, but do you have the 35k to lay out to get them? I know agents in my area who literally have 400k tied up in foreclosures. Now they have hundreds of listings and can afford it, but if you are struggling looking for a new avenue of business I would look elsewhere. One of the reasons they do this is they want the top agents, not the new ones, or lazy ones. If you can afford to carry the inventory they assume you are a top producer.