Business & Finance Careers & Employment

How to Solicite Bank Repo Listings

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    • 1). Find a repossession company in your area using the search function at Quick Repo or Repoman, for example.

    • 2). Call or visit the local company and ask to job shadow or intern with someone at the agency. The best way to learn the repossession techniques and policies for your area is by shadowing someone who does it professionally. You may have to perform free grunt work, such as sorting mail, researching title listings and calling clients, but you'll learn how to work on your own as a repo agent.

    • 3). Perform repossessions, either with a repo agent or on your own. Before you try to obtain clients, you want to get a few repossessions under your belt. For a repossession, you'll need to find the client, seize the vehicle peacefully and either have the vehicle towed or pick the car lock to get into the vehicle.

    Solicit Listings

    • 1). Create a business card and a solicitation letter. You'll tailor the letter to each prospective client, but it should address your experience, training, fees, how you can assist the bank and other relevant skills you have, such as locksmithing or skip tracing.

    • 2). Create a list of banks in your area using the telephone directory. To broaden your client base, approach car loan companies and car rental agencies too.

    • 3). Send your solicitation letter to the bank's collections officer, along with your business card. If you prefer, stop by the bank and ask to speak to someone in the collections department and pitch your services in person.

    • 4). Repeat this process with all the banks on your list. It may take perseverance, but you will obtain a bank client. Once you prove your service to the client, you'll get more business. P.I. Mall notes that three to four good clients will give a repossession agent enough work to handle and be financially successful.

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