I got an e-mail today which is not unlike hundreds of similar e-mails I have received over the past several years. The e-mail asked me a fair enough question, given my line of work:
Are you looking for a complete up-to-date list of direct contact information for Asset Managers across the Country, Asset Management Companies and Banks?
As it happens, I’m always on the lookout for a complete and up-to-date list of asset management companies and banks. The e-mail then kindly directed me to the following web site:
There on that web site, they’re selling the list for $199. They also will sell you just a list of BPO companies for $79. The good news is, if you spend the $199 you also get a separate list of direct contact information for individual asset managers, so you can spam your way into someone’s REO broker network.
I’ve never tried spamming REO asset managers, although I have heard from some people it’s a tactic that actually does work. I was tempted to try it, but I hate spam, so far be it for me to violate my own principles just for the chance of maybe breaking into some new companies. If anyone wants to find me, it’s not hard to do – here I am!
If however you doubt the efficacy of spamming asset managers or you are just squeamish about doing so, and you’re just looking for a registry of banks, outsourcers, and BPO companies, they’re not hard to find. Our good friends at REOPro have a pretty good list:
Also I saw on LinkedIn that there’s another list over at “Ask an Agent” Forum:
There are probably more free REO/BPO company lists out there – I just can’t think of any at the moment, but if any come to me, I’ll add them in to this blog entry later.
Having the list is one thing; signing up is another – it’s a long, arduous process, it could take a really long time. Fortunately there are companies that will do that for you as well:
http://REOlister.com (I’ve received many a spam e-mail from them – they have a free list too if you give them your e-mail)
I have never paid anyone to register me, so I am not especially endorsing these services. I think that registering with these companies is really important, and it is something you want done right. You know what they say – if you want something done right, you’ve gotta do it yourself. But maybe these companies do do it right, maybe even better than you could do it yourself – and certainly if you haven’t done it or have no time for it, it’s something you should consider.
Now, about that e-mail I received today. I ran a quick “whois” check on bestreolist.com, and here’s what I found:
I did a quick Google search on the name of the registrant. It turns out, he’s an REO Broker out in the DC area. It looks like he’s decided to make a quick buck selling his database of REO contacts. I’m sure his asset managers really appreciate his giving out their contact info! Am I right?
Anyhow, I’m all for sharing information, but I’m certainly not against selling it or paying for it. But at this stage in the game, I don’t think there’s much point in paying for this information – well, not for a simple list of REO and BPO companies anyway.
So I’ll tell you what: I’ll give you my list of REO and BPO companies for free. Just e-mail me (no phone calls, please!). It’s an Excel spreadsheet I’ll just e-mail it right back to you. I’ve got about 200 companies on there – banks, outsourcers, valuation companies (“BPO Mills”), and some other industry-related outfits like property preservation companies, etc. If you’re interested, just let me know.
To your success – and mine!