After this article, a lot of agents contacted me thinking that I had instant access to a network of Asset Managers.  And that I could just instantly connect the agent to the AM and they would receive assets.

So I want to clarify what I am able to help the agent with.  As written before in the previous post, I offer the service of signing up the agent with many asset companies. That involves uploading or faxing the necessary paperwork to the company. Since it is advantageous to apply to about 50 – 100 asset companies, some agents prefer to outsource this task.  That is where I come in. This does not guarantee that you will receive BPOs or REO Listings.  That of course is based on the need of the company and the criteria they have for accepting more REO agents.

I also help the agent connect with asset managers. As written previously asset managers are busy and they do appreciate building successful networking relationships. They do not appreciate being continually contacted for BPOs or REO Listings.  So I do help agents develop a social networking program that helps them connect successfully with asset managers.  This is a way to build a good networking relationship with asset managers.  And in this business, it does help to have a solid network of asset managers. I have been able to successfully connect some agents with asset managers which resulted in the agent receiving REO work.

So in summary:

1. I help the agent apply to the asset companies
2. I also help the agent develop a social networking program. This program is designed to connect and build an asset manager network for the REO agent.

My next topic will cover things you can do to make the asset manager’s job easier – which in turn will grant you more listings!

To your business success!

Roxanne Tidmore

First of all I let the agent know that I am an REO Transaction Coordinator.  Even though I interact with many asset managers because of the nature of my work, I do not usually refer random agents to asset managers.

Asset managers are very busy and they prefer that agents follow the procedures to apply.  That tells the asset manager that you follow directions. Also by putting in your application, your contact information will be in the system. When an opening comes up that fits your criteria, you will be contacted.

As an REO Transaction Coordinator, I do assist agents in applying for the hundreds of asset management companies.  The more asset management companies you apply to, the more apt you are to receive business.  It takes time and effort and continuous follow up to asset management companies to receive responses.

But there are several ways of networking successfully with asset managers.  Networking is about building relationships.  Asset managers are busy so they do not appreciate it when random agents continue to contact them for listings. But they do appreciate the networking opportunities. This is a good way to build a business relationship with an asset manager.  A REO Transaction Coordinator can help you begin this type of networking.

And once you have a good foundation you can continue to build your own network of asset managers.

My next topic will cover things you can do to make the asset manager’s job easier – which in turn will grant you more listings!

To your business success!

Roxanne Tidmore

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