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I am considering becoming a Repossession Agent. Do you have any tips?

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  • I am considering becoming a Repossession Agent. Do you have any tips?

    Hi. How's everyone doing? I'm doing well.

    I'm wondering if I can get tips on not only how to become a Repossession Agent, but, how to get high-end assignments. I live in Canada, so, Repo Laws might be a tad different from the States.

    My primary asset that I hope to be able to cover is boats. I just love boats, and I hope that Repo Companies can reach out to me and say "Hey, the bank's reaching out for this expensive vessel. Are you up for it?", and so on.

    I am also curious as to what are the Commission Rates for each type of asset, or if that's determined by the bank, or the Repo Company?

    I know this sounds a bit odd, but, my very first vehicle is a boat, and I purchased it about 4 years ago. I paid for the vessel all in one shot, so, I know I don't have to worry about anyone representing the bank coming to claim it. By the way, this begs another question. If, by some odd chance, someone steals my boat, what can I do? Is it technically a Repossession, if I do that? If so, do I need a Collector Bailiff's License to Repo my own boat, in the event of actual theft? (No worries. I know where my vessel is, and I have access to it.).

    Thanks in advance, and I'm looking forward to hearing from you.