We signed up almost two months ago with about 30 zip codes but have not received any communications, BPO orders, or REO listings. Are there any success stories to share as well as others who might be in the same boat? What has your REOTrans experience been like?
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I've signed up for year now and I received one listing and sold with all cash offer within 30 days or less. Since then, I have no listing. I called the support system to see if I can make my comment more attractive/phrases that will get asset manager attention. The response was it is up to lenders!
I have been signed up with REO Trans for over 2 years. I have received one listing and have done only 2 other BPO's for listings, they were given to other agents. The fees are minimal, but I feel there are a few agents in Southern California that get all of the business. I have over 15 years of REO experience and I am unable to get listings from any of the companies I have paid fees to over the past two years. I would like to know who or what company I can get listings from.
I was told that the asset managers that use this service are only using agents that are "Preferred". Most newbies are luck to get a listing in the near future. Preferred agents are given that status based on past performance.
if you are lucky enough to get an reo listing from reo-trans YOU BETTER know they are grading you and many times you may be penalized for stuff that was out of your control ,as jesse has spoken to get in this buiz you should be working for a mentor learning all the ins and outs or you wont get your second one ..i thrive on taking over mishandled listings and am not afraid to say something to the lender as it affects us all whom strive TO BE A GOOD NEIGHBOR babysitting jingle mail walkaways for up to a year sometimes while the paper work is being done learn from the pros thats why you are here on this forum i would assume ,they are coming out very slow but at least they are coming ,as far as paying 37.00 a month for zips you are not buying zip codes as with realty trac simply stating the zips that you would prefer to work ,and if you are alone and just starting seems like you are trying to handle more territory then you would have SUFFICIENT knowledge of ,try cutting your zips to a coupa miles from your home zip as it looks more realistic to the decsion makers ,once you establish and grow add but start small ,gosh i remember my first buiz i started i invested 100000. and did not make close to what i make now ,its your buiz YOU MUST INVEST IN IT
Bill Martin > TED BENJAMINApril 23, 2009 at 4:28pm
I cannot get properly signed in and I cannot get REOtrans to call me or respond to my customer service questions. I called them and get their fax line. I have emailed them several times for help.
If my customer service was that bad I would be sleeping my car.
I signed up a few weeks ago and am paying per zip code plus an upgraded profile, about $30/month. No REO listings yet. I was emailed a "BPO available" order BUT someone else had taken it by the time I logged in. The BPO orders are claimed within 1-2 minutes so you've got to be fast.
I had have the opportunity of completing bpos but it was just been in the right place at the right time. Because everyone that is within that zip code who signs up to REOTrans gets the same message. I learn fast and stop paying for zip codes.
One of the reasons that you may not be seeing any results is you are graded. Here is what is posted at the site you mention.
All users' performance is tracked, and configurable grading analytics provide custom report card grading.
To use a little logic, if the Sellers / Asset Managers have the ability to look at your preformance they have an ablitity to look at your prior sales. So here is a little more logic why would they give you a transaction to handle without a track record. This makes it both harder to get any REO LISTING and explains why so many qualified agents state they can not get into the REO LOOP so to speak. FAIR or UNFAIR these are just the facts. This company is not only selling a software platform they are selling your limited REO history to the banks. This is why I have not used them or any of these companies as a advertising medium. I try and go straight to the asset managers or banks.
There are all kinds of arguements that can come from this including , someone has the ability to modifiy the data. This is a third party to the transaction and the transactions are very valuable to both parties. This makes it ripe for let's call it data modification. Offering to sell advertising when this is known merely casts more of a light on the company executing every option to earn money. Which would you rather look at as an asset Manager... a report card or an advertisement unsupported by what is supposed to be "configurable grading analytics".
Some agrue that the REO Industry is like Hollywood. To break in you need a good Agent and the way to get a good Agent is to have got a good "PART" in a movie. I heard one person say if Tiger Woods had to prove he could get an Birdie before he got golf clubs we would not have ever seen the best in the World. Just because you are smart enought to see thru the system does not make you sucessful. You have to have some way to catch the attention of the Banks and Asset Managers.
As most of this is coming down from the managers "On High" at the Banks and sub contracted "Asset Managers" not the guy making the selection .. well I feel it coming from our regulators if there is going to be a change. I know the FDIC is now asking for Comments on the Toxic Asset Program. Maybe for the frustrated its time to make that comment ,, me I am going back to the phone and call another asset manager.... TGIF ....
Change happens everyday we wake up.....Its what we change that makes a difference...
No success at all for over a year. One freebie BPO for EMC. One listing from Carrington that got withdrawn because of a flaw in the foreclosure. I continue because it's cheap and required to service my Countrywide listings.
Joe Montenigro
REMAX Home Team http://hometeamNJ.com
Serving South Jersey
Replies
If my customer service was that bad I would be sleeping my car.
I have to say George Kenner was right on in his reply here. If you didn't read it, you should and read it very carefully. Good job George! Good Job!
If not producing soon, then YES I will drop them.
All users' performance is tracked, and configurable grading analytics provide custom report card grading.
To use a little logic, if the Sellers / Asset Managers have the ability to look at your preformance they have an ablitity to look at your prior sales. So here is a little more logic why would they give you a transaction to handle without a track record. This makes it both harder to get any REO LISTING and explains why so many qualified agents state they can not get into the REO LOOP so to speak. FAIR or UNFAIR these are just the facts. This company is not only selling a software platform they are selling your limited REO history to the banks. This is why I have not used them or any of these companies as a advertising medium. I try and go straight to the asset managers or banks.
There are all kinds of arguements that can come from this including , someone has the ability to modifiy the data. This is a third party to the transaction and the transactions are very valuable to both parties. This makes it ripe for let's call it data modification. Offering to sell advertising when this is known merely casts more of a light on the company executing every option to earn money. Which would you rather look at as an asset Manager... a report card or an advertisement unsupported by what is supposed to be "configurable grading analytics".
Some agrue that the REO Industry is like Hollywood. To break in you need a good Agent and the way to get a good Agent is to have got a good "PART" in a movie. I heard one person say if Tiger Woods had to prove he could get an Birdie before he got golf clubs we would not have ever seen the best in the World. Just because you are smart enought to see thru the system does not make you sucessful. You have to have some way to catch the attention of the Banks and Asset Managers.
As most of this is coming down from the managers "On High" at the Banks and sub contracted "Asset Managers" not the guy making the selection .. well I feel it coming from our regulators if there is going to be a change. I know the FDIC is now asking for Comments on the Toxic Asset Program. Maybe for the frustrated its time to make that comment ,, me I am going back to the phone and call another asset manager.... TGIF ....
Change happens everyday we wake up.....Its what we change that makes a difference...
Joe Montenigro
REMAX Home Team
http://hometeamNJ.com
Serving South Jersey
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