Old Republic Now Requires REO Training $399!

Old Republic is now requiring REO Courses for all brokers/agents in order to continue to receive REO Assignments. I would think if you've already taken FSI, RDCPro, NFSTI, OneWest, Res.net, Equator,  this would be enough? I guess I'll just pay another fee with a smile :)

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  • I got my A-reo to satisfy the requirement for Freddie so I only need to pay $199/ I believe to get the ORDS training portion & then pay for  REOVM, I am considering doing this as Old Republic is not REOVM's only client & Old Republic has a large request for bpo's in my area.


    I will let everyone know what the outcome is.




    • Ellen, you may want to think twice before speding$199. Old Rep has been throwing 35$ for bpos, it's not even enough to cover the gas and your time, most of those orders are short sale files or loan mods. I've stopped taking them a long time ago just simply realizing that it actually hurting my business more then anything else.
  • I can't afford to take their 30 exter. This is the lowest paying bpo mill. Long bpo format and too much info needed, very close to a full appraisal report, but for only 30???
    I think it does more harm to our RE business then good.
    • Tell them you want $40.  I get it all the time.  That of course assumes that the REALTORS in your market consider their work to be more valuable than a $30 BPO.


      • actually they very successful in my area with only paying 35$ lol... agents are happy with their pay... No Idea why

      • Bob it is funny but one of the local agents that is the listing agent for Old Republic Emailed all of us that is on Old Republics panel was asking why we were not doing BPO's for $30.00. Shortly after that in comes an Email for $55.00 and a rush job 2 days for completion for the same BPO. It never did pop back in. Guess he was hungry. I had an company that wanted me to do a rural exterior for $30.00 I wrote them like your saying asking for $60.00 as I was showing property that day up there and they canceled the order and reasigned to someone else...This was on Friday. Monday the order dropped in for $90.00 and I refused it as I had already shot the pictures of the drive-way, street and mail box any way. Wrote them back Monday and plainly told them I do REO's and did not have the time to do their BPO's. I'm doing 4 listing BPO's this week-end finished three already and starting on the 4th right now. Received 4 new REO's listings Friday and the weirdest thing about those are that other asset companies started on getting them assigned and then they were reassigned to me from different asset company.
        • Question: How can I found out how much REO inventory OR has in my area? I've been doing BPOs with them for a year now, with no listings,  and I they send me on average10 BPO offers per week, half of them being exterior orders. Is that any indication of how much REO inventory they have? I'm wondering if it is worth it to take the classes and signup with REOVM.
    • Julio, PAS is not charging for listings it is IAgent that is charging me....PAS is still handing out assignments but I am paying IAgent for use of their web site per listing accepted......True, I also have companies charging 35% of my commission for REO listings accepted and others that only pay 2.25% and others that pay 1.75% to the listing agent and also collect a $125.00 fee for acceptance of a REO. PAS is also now paying out 2.5% for commissions instead of last years 3%.
  • Hi,

    I have been getting 2-3 interiors from Old Reublic a day. Signed up with them 2 weeks ago when they contacted me off RES.Net.

    I saw an application for their REO listing department that states you must complete 10 BPO's for them or work for them 90 days before applying.

    It seems all I am doing is facilitating Short Sales at $45 (lowest fee in my area) I have eber been paid for an interior. Therfore, if there is no REO listing potential I rather not waste my time.

    Anyone have any actual REO lsitings from this company? I rather go after Short Sales myself instead of wasting time on $45 interiors!
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