The natural evolution and fallout from an increased amount of foreclosures over
the last twelve months is creating a large percentage of listings for bank owned
properties. Commonly referred to as REO's (Real Estate Owned Properties) are
demanding that real estate agents have the professional knowledge and skill to
handle these types of transactions. The fact that these types of listings are
flooding the market is creating new opportunities for you to make more money and
close more transactions in the coming months if you understand this market.
Issues that we will address in this course include:
How to get REO listings as an approved real estate agent with banks,
lenders and credit unions who have foreclosed on properties and are trying to resell them.
The art and science of creating BPO's (Broker Price Opinions) which lies at the heart of this market.
What to expect as a listing agent regarding issues such as repairs, warranties,
utilities and maintenance of REO properties both before and during the listing agreement.
Knowledge to help lender owners comply with applicable disclosure and
compliance issues in listing and reselling the property.
Compliance with Arizona subdivision statutes that require lenders to comply
with ADRE subdivision disclosure reports when they own 6 or more parcels in
a single platted subdivision.
How to counsel and prepare buyers for making offers on REO properties.
Listing REO properties and representing buyers making offers on these
properties represents some unique and interesting challenges which can cause
pitfalls for agents and our clients if we lack awareness of them. You can expect
the number of these types of listings to increase in the coming months. Now is
the time to get educated so that you are ready to service this important part
of the market in the future.
Jim Hogan ABR, DREI A REALTOR since 1971, Jim is
also a mortgage broker and investor. As an educator, he
has helped "billions" begin and sustain
successful real estate careers. His door is always open
to anyone with a question or seeking advice. He and
Curtis Hall developed the Real Estate Buyer's Agent
Council's "Innovative Marketing for Buyer
Representatives," course and teach Accredited Buyer
Representative (ABR) designation classes throughout Arizona,
California and Hawaii. Jim was one of the first educators
to be awarded the Real Estate Educators Association's
Distinguished Real Estate Instructor (DREI) designation.
Leonard C. Elder, DREI, MREP
Len has served as President of the Southern Chapter of
the Arizona Association of Mortgage Brokers and on the
State Board of Directors for the Arizona Association of
Mortgage Brokers. Len obtained his B.A. from Capital
University majoring in Economics and Speech Communications.
He obtained his law degree from Capital University law
school and practiced civil litigation in Ohio in eight
years. He is also a licensed real estate broker in Arizona.
In June 2005, he was awarded the Distinguished Real
Estate Instructor, DREI professional designation by the
Real Estate Educators Association.
George Jenson
George bought his first rental house in 1991 and has been involved with Tucson
real estate ever since. In 2001 he sold out his half of a successful fund raising
firm and became an agent; he is currently the Sales Manager for Santana REALTORS®.
George has a BS from the University of Arizona, a long history of teaching and
public speaking, and divides his work time between selling real estate, teaching,
and writing custom computer software. His play time is divided between travel,
scuba diving, and building an airplane in his garage.
Important Reminders
There is a 5 minute late rule. If you are more than 5 minutes late to class, you will not receive credit for attending the course. No exceptions.
You must check in with the front desk prior to entering the classroom.
You must sign in on the Class Attendance roster prior to the beginning of the course.
Jim Hogan ABR, DREI 
Leonard C. Elder, DREI, MREP
George Jenson