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How to find realtors that deal in foreclosures

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How to find realtors that deal in foreclosuresI’ve mentioned many times the power of contacting real estate agents as you market your services.

They can be a tremendous source of income for you if you work hard at cultivating this very key target market. Today we’re zeroing in even more on this segment.

I’m going to share a technique for finding realtors that deal in foreclosures. It’s through the use of a site called www.reonetwork.com. Check out the video below to see how to make use of this site.

Finding Agents That Specialize In Foreclosed Homes

Purpose of this lesson:

Find realtors that deal in foreclosures (REO properties) and contact them concerning your services.

What is REO?

Real estate owned or REO is a term used in the United States to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction.

Why is this a powerful technique?

  • Not widely used in the industry
  • Allows you to contact agents by phone, email or snail mail and introduce yourself as cleaning providers
  • Let them know you would love the opportunity to clean any properties they currently have or have in the pipeline
  • Done correctly it will result in cleaning any current or future foreclosures. These can be very profitable!
  • May also result in cleaning any other non foreclosure listings they may have (many listings need to be cleaned either before being put on market or as a condition of sale)
  • If you make the realtor happy they will use you over and over PLUS tell others about you

Recap:

  • Find realtors
  • Contact them (as many as possible)
  • Deliver quality work when given the chance

More resources:

The video shares the REO Network found here: www.reonetwork.com

Here are two other sites to check:

  1. https://realestatecenter.bankofamerica.com/
  2. https://reo.wellsfargo.com/

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Reader Interactions

Comments

  1. Hi Tom,
    Thankyou for this very interesting article about Foreclosures and how it may be possible to gain lucrative income from cleaning foreclosed properties.

    I also wanted to ask a question about “direct mail” which you mentioned is very profitable if used with a good sales letter and flyer. I have printed up many of my flyers and sales letters, but I wanted to ask you if I can on “other prospective businesses” that I can send my sales letter to. So far my list includes: Medical Offices, Insurance Offices, Property management offices, REal Estate Offices and Restaurants, Law Offices, Accounting Offices…. this is where I need you help if I can. Is there any other suggestions that you can mention that are numerous enough to put in my mailing list ?? Thankyou so much,

    Rick

  4. Hi Rick! I used to focus on the medical offices, but ANY niche is fine. I even looked up cemeteries and mailed to them (many have an office). There was only like 5 or ten or so near me, but I got hired by one!

    $100 bucks per visit each week for probably ten years or so. Then they hired me to clean the two mausoleums they had which more than doubled my income from that account. I also mailed to “plastics suppliers” because there were several companies that had warehouses near me (I got hired by one!).

    Scroll through the Yellow Pages for different “headings” to try to uncover hidden markets to mail to. You’ll be surprised how many “mini markets” you can target as far as direct mail goes. Think WINERIES, BEER DISTRIBUTORS and other similar categories. Odds are they all have office space for the big shots that work there.

  7. Hi Tom:
    Thanks for the info. I was trying to find some sample letter to email to a real state agent, but I just can’t find them. Would you please send me the link to those sample letters that you have for realtors. Thanks in advance for your time.

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