How Much Is Your Home Worth?
Monthly Training Program for Illinois Agents
REO Buyer Agent Training
Most agents don't know what to do when their client wants a bank-owned property. This monthly training is built specifically for buyer agents and investor representatives who want to close REO and distressed property transactions with confidence.
Contact
eXp Realty LLC
License #: 475-155825
544 Lakeview Pkwy, Suite 100, Vernon Hills, IL 60061
Next Session Coming Soon — Seats Are Limited · Free monthly training for licensed Illinois agents
Program Overview
Master REO & Distressed Property Deals — On the Buyer Side
Bank-owned and distressed properties represent a real opportunity for buyers and investors — but only when the agent on their side knows how the process actually works. This monthly program was built to fill that gap.
Led by Fernando Godoy, a licensed Illinois broker with over 14 years of REO experience, each session focuses entirely on buyer representation in REO and distressed property transactions. This is not a listing agent training. It is not about becoming an REO asset manager. It is about knowing what to do when your buyer client wants a bank-owned property — and doing it right.
Every month covers a focused topic. Sessions are practical, hands-on, and built around real transaction scenarios that Illinois agents actually encounter.
Who This Program Is For
What Makes This Different
Strictly focused on buyer & investor representation — not listing
Real-world REO transaction experience, not textbook theory
Illinois-specific rules, contracts, and norms covered in depth
Monthly sessions so you build knowledge over time
Small group format — ask real questions and get real answers
Led by an active REO specialist, not a seminar speaker
Free for licensed Illinois agents
What Agents Learn in This Program
Over the course of the program, you will gain a working knowledge of the entire REO buyer transaction from first showing to closing.
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How REO Transactions Work
Understand the bank's perspective, asset managers, servicers, and how the REO pipeline flows from the lender's side — so you can navigate it from yours.
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Offers, Addenda & Contracts
REO sellers use non-standard addenda and asset manager contracts. Learn what clauses to expect, what is negotiable, and how to protect your buyer.
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Due Diligence on Distressed Properties
Properties sold as-is require a different approach to inspections. Know what to inspect, how to interpret results, and how to counsel buyers on risk.
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Financing for REO Purchases
Not all loan programs work on distressed properties. Learn which financing options work, what lenders require, and how to prepare buyers before they make an offer.
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Pricing & Market Value Analysis
Learn how to evaluate as-is value versus repaired value and advise buyers and investors on offer strategy in competitive REO situations.
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Timelines, Closings & Occupancy
REO closings follow different timelines and rules. Learn how to manage the process, what to expect at closing, and how to handle occupancy situations.
Training Calendar
Monthly Training Topics
Sessions rotate through the core areas of REO buyer representation. Returning attendees get deeper dives; new attendees get a solid foundation each time.
Session 1
REO 101: The Buyer Agent's Role
How bank-owned properties differ from traditional sales, and what your responsibilities are as the buyer's representative.
Session 2
Making Competitive Offers on REO
Offer strategy, escalation clauses, earnest money expectations, and what asset managers actually respond to.
Session 3
Understanding As-Is Contracts
Reading REO-specific addenda, protecting your buyer, and knowing which terms are firm versus negotiable.
Session 4
Inspections & Risk Counseling
What to inspect in a distressed property, how to interpret findings, and how to present them to buyers and investors.
Session 5
Financing Distressed Properties
FHA 203k, conventional rehab loans, cash buyers, and what lenders need when the property has deferred maintenance.
Session 6
Investor Buyer Representation
How to work with investors buying REO in volume, understanding their criteria, and building long-term referral relationships.
Session 7
Short Sales vs. Bank-Owned Properties
Key differences in process, timeline, and strategy when your buyer is considering either type of distressed purchase.
Session 8
Closing REO Transactions
Managing timelines, handling delays, what to expect at the closing table, and how to protect your buyer through funding.
Your Instructor
Why Learn From Fernando Godoy?
Fernando Godoy is a Chicago-area real estate broker with over 14 years of experience representing buyers, sellers, investors, and asset managers across Illinois. Originally from Santiago, Chile, Fernando relocated to Chicago in 1993 and built his career around residential real estate and, specifically, the distressed property market.
He specializes in REO properties, short sales, and bank-owned assets throughout Cook, Lake, DuPage, Kane, Kendall, McHenry, and Will Counties — and he has seen the buyer side of these transactions from every angle.
Fernando Godoy holds six professional designations — PSA, ABR, SRS, SFR, CSC, and RENE — covering buyer representation, short sales, pricing strategy, and negotiation. He is an active broker at eXp Realty, headquartered in Vernon Hills, Illinois.
This training program is Fernando Godoy's way of sharing what he has learned in the field — helping buyer agents avoid the mistakes that cost their clients deals and protecting buyers who want to purchase REO and distressed properties throughout Illinois.
Reserve Your Seat for the Next Session
Space is intentionally limited to keep each session small and hands-on. Fill out the form and we'll contact you with the date, time, and location for the next available training.
Coming Up
Date & Location TBD
Free for licensed Illinois agents · Details sent upon registration.
Questions? Contact Fernando directly at
Register for REO Buyer Agent Training
Disclaimer: All information contained on this website is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal notice homesbyfernando.com believes all information to be correct but assumes no legal responsibility for accuracy.