How to get foreclosure listings from lenders?
Friv asked:
I am a new real estate agent and I want to find out how to hook up with lenders such as wamu or countrywide to get the foreclosure properties listed. Any help will be appreciated. Thank you!
I am a new real estate agent and I want to find out how to hook up with lenders such as wamu or countrywide to get the foreclosure properties listed. Any help will be appreciated. Thank you!
Wamu and Countrywide are big and generally don’t deal directly with small time investors. The only direct contact I have heard of in my area is from a large investor who called and said he would buy 30 houses for cash. They took the call and he bought the houses. Foreclosures are listed in the newspaper, but usually not the biggest one in your area. Here, they are listed in the “Court and Commercial”. Some banks, like Ocwen, list on their website, but they don’t update very often and many times the list is outdated and wrong. National City has a branch here that keeps an updated list which is free to anyone who wants it. In some areas, the MLS can be accessed by the public, check in your area. Your question was not worded great, but if you want to list those banks properties, you have an uphill battle. In Indianapolis, countrywide has 7-10 agents who list their properties. They fight hard to maintain that relationship. If you want to get in, be better than them, sell more than anyone in your area. If you are not good at selling properties, why would they use you. Find out who sells the foreclosures in your area and then beat them. Put your record to that lenders and you will get the business.