I posted a question here a couple of months ago wanting feedback on USRES. I was doing so many free BPOs with the promise of listings. Well, a couple of days ago, I got my first listing from RES.NET, which is affiliated with USRES. I have a feeling this is going to be one of many, well at least I hope! I am still doing BPO's and will continue to do so for the REO business. I want to thank everyone who responded. Based on the responses, I put aside my discouragement, decided to bite the bullet, and keep doing the BPO's. I even emailed vendor management a couple of times asking for listings. So Thanks!Also, today I got an email from a company that has been addressed in this forum ams4reo.com. They are wanting agents to sign up. Unfortunately, they don't tell you if there is an upfront charge. They require you to fill out all this paperwork online. I didn't do it, instead I tried to call their number to question any charges. All I got was a busy signal. I would not spend money on a company, I know nothing about. This is a great way for illigitimate companies to take your money and run. And they know realtors are hungry for business and vulnerable to ways of getting the business.

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Replies

  • I love REOTrans. The site is easy to use. RES.net is a little harder to use but I pay for them both.
  • Hi Ronnie,
    Congrats on the new listing....and many more! Is the RES.NET fee you pay a montly fee or do you pay a year at time? I'm wondering.
    With REOtrans it's monthly, so it didn't seem like that much, but I've stopped paying....they do not seem to have much to offer in my area for the price.
  • I have been working with USRES for a some time now. I have yet to receive a listing. I was told that you need about 15 assignments b4 they would consider you for a listing. I'm waiting so your post is encouraing.
  • I have been on RES Net for a while and have not gotten any BPO's from them. Today I did see 7 opportunities for BPO's on REO Trans but someone else accepted them before I could get to them.(it had gone on my spam email.) Before that, the available BPO's in my area were a few months before. Anyone else having luck with these two for BPO's or is there anything else I should do?
    • Hi Blanca,

      I have been with REOTrans for about 2 months and today i also got an email for available BPO on my phone, replied within 1 1/2 minute and it was already gone . How many people do they send the email to ? Also the last accepted bpo in my area was May of last year...lol. I have been thinking about signing up with RES NET all day today , good thing i saw your post now i may just wait a little...keep us posted if you get anything from them.
      • I would sign up with resnet! They are a good source of business if they contact you. REOtrans and am4reo are another story. I am sure REOtrans has lots of agents. They may e-blast bpo orders and the first one to respond is the one to get it. I hate that, but for that reason I got an Iphone so I could respond to orders right away. Iphones are great for email and text alerts. And you can pull over to the side of the road and return your email (if your in your car) right away.
    • My experience with REOtrans was not good. They never had any reo's posted to accept. They just posted the ones that were already accepted. I did have one transaction with them and it was so convoluted it raised my stress level 100%. It seemed there were more chiefs than Indians. I had so many people involved in my transaction, I didn't know who they were. REOtrans is an reo program that vendors use to track their transactions. My actual transaction was through LandAmerica. Furthermore, I have been paying REOtrans for 3-4 years and its resulted in one transaction. You pay for zip codes in your area. It's not very much but it hasn't gotten me any real business.
  • Thanks for the great information about arms4reo.com. I filled up all the information with them and when i got to the end i was asked for my credit card . I cancelled the application but they still called me a day later asking me why and tried to explain to me how inexpensive it was... ONLY $199/mo they said for a whole zip code not even guarrantee you will get anything.
    • There is a whole discussion thread on ams4reo in this past month. A woman that works there replied to some questions on the forum. I thought the $200 was application fee. I do not think it was per zip code.
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