When deciding which BPO companies to apply to for REO listings, I find these forums to be the best source of feedback. Activerain is also another good source of feedback on BPO companies. As you are seeking REO listings, please be aware that some asset managers can require you to also pay and join RESNET if you are not already a member in order to receive listings from them. USRES is a good example: they require agents to perform BPOs for free, with the possibility of getting the listing. I was skeptical about performing "free" BPOs however, I have received several listings from them, but they also require the agent to pay a membership fee to RESNET in order to list any REO as this is the platform that the agent manages their REO properties through. I have been doing assignments for Titanium for over a year now and they have recently announced the formation of a BPO division and as part of the application for signing on with them to do BPOs they required that I also be a member of RESNET. What I am saying is to check diligently and put your money where it will result in the most REOs as that is your ultimate goal. If Absolute REO has an abundance of listings in your area, this may work best for you.
I agree with you, Carol. These are good forums to gather information & opinions. Paid the RESNET fee, have done mulitple free BPOs for USRES - zero results as of today. Paid Absolute REO - did a quickie BPO thru an inactive document that went to Stephen Johnson. I did get paid promptly on the BPO, but no other orders or actions at this time. Titanium is very active with assignments, pay promptly, no REO activity (yet?). Have paid the Excellen REO, and hoping for the best.
Courtney Peace Hagins ABR CDPE HRC
Remax
Hilton Head Island, SC
After reading many posts, I have yet to find an agent say that they received a listing. A few BPOs that will turn into listings, but no actual listings.
If anyone is willing to pay me $295 a year, I can send you a BPO, maybe two and still make out like a bandit : )
Hey all! I have been with them for since July. I just received my first BPO and it will probanly become an REO. Price should be around 500K. Well worth the $295. I took a chance and I think it will pay off. I will keep you all posted!
Johnny Huang > David L. HenniganFebruary 2, 2010 at 8:26pm
Hope "our ABSREO" BPO's will lead to a listing :-)
I too received an invitation to join, but have not yet although I was "approved" on the website. I have asked numerous other agents and can find no one who has gotten any listings from Absolute. I have received almost 99% of my REO listings from Asset Managers who have found me on RESNET. I think I will stick with this since I have already paid the fee.
I filled out the application and received a call. I have not paid the #295 fee. Is there any agents out there that has received any properties from this company?
Got a call from Stephen Johnson on Tuesday around 5:40 PST. He said the asset manager that was assigned to me was let go because he was so unorganized and that he was taking over. He said "I guarantee you will have some assignments before the end of the year". He said they needed me to fill out the master servicing agreement. I had already done this when I first signed up. I went ahead and did it again. We'll see what happens. Keep you all posted.
That right there should be enough to keep at least the members on this forum off. There is another forum that has nothing but bad things to say about this company, in fact one member in Illinois did a background check because they post their address and found some criminal stuff about the owner. Stay away!
Replies
Courtney Peace Hagins ABR CDPE HRC
Remax
Hilton Head Island, SC
If anyone is willing to pay me $295 a year, I can send you a BPO, maybe two and still make out like a bandit : )
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