Daily Real Estate News  |  October 12, 2007  |   Add a Revenue Stream: Launch a Foreclosure Division
Increased foreclosure rates amid a weak housing market give you an opportunity to expand your business while also helping distressed home owners.

Real estate professionals who establish foreclosure divisions have the ability to let struggling home owners know what their options are; the opportunity to either purchase the property or list it for sale; the security of knowing there will be business even during downturns; and the chance to boost revenue through increased listings, cash acquisitions, land contract sales, and property rentals.

Before launching a foreclosure division, experts recommend that you build up enough cash to acquire foreclosed properties, put together information for struggling borrowers regarding their options and deadlines, gain an understanding of foreclosure laws, and perform title and lien research for each property.

You also would be wise to read local foreclosure notices, inspect each property in person, establish a means of generating pre-foreclosure leads, and network with loan officers and other professionals involved in the foreclosure process.

Source: Realty Times, Ralph Roberts (10/10/07)