Northwest Florida Realtor: I have been ask by many new REO agents what timelines do banks normally have?

I have been ask by many new REO agents what timelines do banks normally have?

This is a timeline that I hope everyone will find useful. This is just what I have found to be the norm. If in doubt always best to check with your asset manger unless directed to send questions to their pre marketer.

Agent Task

Deadline (from when task is opened)

Accept/Reject Listing

4 hours

Determine Occupancy/Units/PPE

1 day

Provide HOA Information

2 days

Broker Sign Off (verification initial services complete)

1 day

Checklist of Damages

2 days

Initial BPO Online

3 days

MLS Sheet/MLS Number

1 day

Marketing Description

1 day

Supply Marketing Photo

1 day

Property BPO Form (updated every 60 days)

3 days

Property BPO (Change Listing Agent)

2 days

Monthly Status Report

2 days

Supply Listing Extension

1 day

Send Signed Contracts

1 day

Accredited A-REO REO Agent Five Star Institute REO Certified Equator Certified ReoTrans Certified Certified E-Pro™ Realtor
Short Sale and Foreclosure Certified Realtor Res.Net Certified

Brandon Jordan

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2 commentsBrandon Jordan • January 23 2011 03:46PM

Comments

Great punch list for managing REOs!

Posted by Billie Hillier The Force Realty (Practical Real Estate Marketing) over 1 year ago

Thank you, I hoped that someone would find it useful. I clicked on your AR profile nice icons 

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Posted by Brandon Jordan (Coldwell Banker United Realtors) over 1 year ago

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