REO PRO's

Define the asset manager and outline their role in distressed asset management, from hiring and vetting listing agents to securing assets, overseeing inspections, and managing valuation, offers, and closing.

Explore how broker price opinions (BPAs) provide cost-effective real estate valuations for lenders on short sales and foreclosures, and how mastering BPAs can lead to oreo listings.

build a strong BPO team by first performing BPAs solo to master the process, then train others to maintain accuracy, protect ratings, and sustain income from BPAs and ORIO listings.

Master time management to boost asset manager ratings by promptly accepting assignments, conducting initial inspections within hours, and replying quickly to correspondences with BPO and valuation needs.

Conduct weekly REO inspections by checking all entry points, capturing date-stamped photos, and creating brief video walkthroughs, then outsource tasks to save time and win more listings.

In the recon phase, analyze MLS listings and how agents present REO assets. Set up a drip email campaign to track new market activity and competitors via photos and video.

Differentiate yourself from competitors by building a professional resume with market stats, marketing samples, and video media; apply online, align with a broker, and maintain asset contacts via cold outreach.

Overcome video nerves with a simple script that introduces you as a southwest Florida real estate broker, highlights asset management and marketing strengths, and helps you stand apart from competitors.

Master cold calling in real estate by using scripted dialogue, closing questions, and consistent follow-up with asset managers to secure listings and expedite growth.

Understand upfront expenses for asset preservation, utilities, and repairs, and pursue reimbursement with receipts; work with your broker to fund costs for ORIO assets and avoid kickbacks.

When an asset is assigned, follow instructions, perform a site inspection to determine vacancy, offer cash for keys if occupied, secure the property, document with photos, and submit to portal.

Learn to value assets for BPOs by selecting strong comps, preparing three active and three sold properties, and generating multiple valuations—as-is, repaired, and quick sale—using market conditions and subject details.

Communicate openly with asset managers to secure more asset assignments and listings. Use proactive questions about handling assets in your area, and request referrals or introductions to other asset managers.

Market and sell distressed REO assets by delivering high-quality marketing, including drone photos and videos, open houses, and professional materials, supported by a strong team to generate online buzz.

Learn offer submission for REO properties priced, including short sales and foreclosures, where below-market pricing draws offers; maintain ethics and submit highest and best offers into MLS by may 15.

Build an efficient REO team for property intake: secure initial inspections with a safety partner, recruit locksmiths, trash-out crews, cleaners, handymen, a general contractor, and lawn maintenance, and weekly inspections.

Find asset management companies and asset managers to build a durable ORIO listings database, using referrals, LinkedIn, Google searches, and careful vetting.

Navigate the resource section’s multiple links to asset management companies, sign up for the right partners, and apply the video tactics to effectively list Orio assets.