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 have been doing REO since 1990!
Ok...so, let me rephrase my earlier statement. For the vast....VAST majority of agent who jumped into REO in 2007 / 2008, REO inventories have shrunk so drastically that those agents either no longer have REO inventory and are out or are looking for REO inventory however, competition is so high, they can't get their foot in the door. Because of this reduced inventory and likewise, reduced number or agents working REO, these platforms like RES.NET or Equator are learning to diversify their revenue streams or go under. I am not saying REO is dead, it's a lot like being in the funeral business, it will always be fairly steady but, I am saying the modern golden age of REO is long gone. So, unless we have a dramatic recession or depression....the vast majority of those agents, platforms, outsourcers are downsizing, finding other revenue streams or getting back into traditional equity real estate.
I have a client that uses it, but I do not pay for zips.
I agree with Sam. It was a waste of money. Last I paid was over 7 years ago. Same with buying extra advertising on Res.net. Asset managers can figure out if you are near one of their listings based on your zip code.
just your 1st freebie zip. don't waste your money.
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