Do any of the banks, outsourcers or asset management companies use the Equator platform these days?   Since they were purchased by Ocwen , I haven't had a single task assigned using this platform.

Years ago they were the most widely used platform for REO.

Now I wonder if I am wasting my money paying for zip codes.

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  • I paid for extra zip codes for years too.  I never got anything because of the extra that I paid for.  I do use it for short sales and did do a few REO's but not because I paid for advertising.  It was just the platform they used.  Live and Learn. 

  • Caliber still uses Equator for REO properties and ResNet for short sale properties.

  • Fannie Mae uses Equator.

  • Nationstar uses it for short sale and REO Auctions.

  • I've experience the same thing and forgot that I've been paying for zip codes. Thanks for the reminder. 

    Betty from Pa

  • Hey Sally, out of our 13,900+ members, we have a good few that are familiar with Equator and use Equator often. I use it often for short sales, especially with Bank of America short sales. Now, with that being said, I....nor any member of this network (to the best of my knowledge) has ever come out and said that they have gotten direct business from advertising with Equator. With that being said, if you do advertise with them and buy zip codes, I would love to know your experience so, please be sure to update us on this forum.

    • When I started listing REO properties in 1998, Equator was THE platform most banks and asset management companies used to manage their REO properties.  I don't think I ever got listings from advertising on Equator. That wasn't a goal.  But most of my REO clients used Equator to manage their inventory.  I just wondered if any banks or asset management companies are still using Equator to manage their REO inventory.    It seems that it is only used now for companies doing short sales.    And I also haven't received any BPO orders to be completed on the  Equator  platform over the past few years either. 

      • I used to get assignments via Equator prior to the real estate bubble deflating, then they started trickling in as it became more competitive and the number of agents entering the market. Later, EQ started charging and the assignments disappeared. As for RESNET, I paid to advertise with the promise of being first in line. Nothing came of it after over a year of paying. In fact, USRES fell off as well and instead of getting an assignment every ten or so BPOs, I got nothing after a hundred. Fortunately, I have rapport with some clients and continue to receive listings, but not like it was when I was one of the only agents doing them.

      • Yeah, with REO inventories shrinking and outsourcers are now gone.....these third party platforms have lost the bulk of their business so, RES.NET, Equator are all struggling and trying to diversify their revenue streams just to stay afloat. Hence the introduction of short sales. The funny thing is, those will obviously go away eventually so, I have no clue what these platforms are going to do when real estate comes back around. They may just go under.

        • Even in a great economy, there are REOs. There are always people who will walk away from their responsibilities (health, divorce, drug habit, etc)

          The level in a good economy is a steady but small one. There will still be opportunity in the REO niche, but probably much more in general brokerage!

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