I concentrate on offering REO listings and HUD homes. I also provide an REO starter kit to help agents discover how to sell REO listings and how to get REO listings from banks, property management companies, and hedge funds. REOs are houses that have been foreclosed on, and the bank took ownership of that house (how to pick a real estate agent).The REO representative has numerous duties since the owner of the house is typically in another state and will never see the home. REOs can be a fantastic income due to the consistent stream of listings that come to a successful REO agent. Short sales are homes owned by homeowners, however the house owner can not offer the house for adequate money to settle what is owed on the house.