Bottom of the Food Chain in REO

Sounding off a little here. Comments always welcome and usually appreciated. I'm tired of being at the bottom of the food chain working REO's Last year resnet sold me on their service by telling me there are no tech fees compared to equator. Well it's about the same it seems. I get charged $150.00 on every sale for a tech fee while accepting low commissions. 2-2.25%. Then on top of that the AMP's want me to pay for their training. I've been hit up for $400.00 dollars in training fees in the last few weeks and then $700 to resnet. That's about double what equator costs me for about the same amount of business. I am not going to renew. I am going to combine it with my brokers account. This could be the trend back to fair market sales for me. They get us to work cheap and then use us as a source of revenue too. 

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  • I can honestly say REO is not for every agent specially when you have companies charging you large amounts in fees with very little return if any. I refuse to pay any company to obtain any BPO's or REO's including Short Sales. Someone once told me "never to do anything that you're great at for FREE." You're worth so much more don't ever under sale yourself.
  • Tom - I played the BPO and REO game for 2-3 years. BPOs were a bank breaker and REOs got to expensive to fool with. Dropped 'em all and doing my usual RE biz. Will not do a BPO nor list nor show a REO nor a short sale.

  • You stated this very well. I quit too. One listing over a year does not make good business for me. Green River will use you for all the initial marketing we do and expect to many visits to the house. Than they will send the property to auction and expect the agent to work for a few hundred dollars, hold it open and, take the training, on and on and on.

     I refuse to be treated as if I'm not the professional agent that I am. I'll leave it to someone else and there is always an agent willing to take it on.

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