• In reading through some of the responces I saw the one from Fulton Gaylord and have to agree with what he's said but I would like to add that I once had an investor I sometimes worked with that found an REO unit about 4 hours from where I'm located. He found it himself online, and went alone to look at it. He tried for 3 weeks to contact the listing agent directly to make an offer but she never called back, even when he left voice messages that he wanted to write an offer. He even called her broker but he just said it's her listing and he'd have to contact her. Finally he called me and asked me to write up his offer. I did and I sent it by both email and fax with basically the same results. The brokerage wouldn't let anyone help me, would give me the listing agent's cell or home phone. She wouldn't return any of my calls or emails.

    After about a week I contacted the asset management company and got the asset manager's name and direct number. I called her asking if our offer was ever submitted and the asset manager got very nasty with me. She said I was only complaining about the listing agent because I wanted her to give me the listing. I told her I had absolutely no desire to list a property 4 hours away and that she should be glad I called her because I had a cash buyer for a property of her's that had been on the market almost two years.

    I sent the offer directly to the asset manager, negotiated directly with her and basically got it done without the listing agent. I was glad to get the sale done for my investor, and I made a decent co-op commission, but I was very put off by the asset manager's nasty, negative attitude. 

  • I paid for top membership of and got 3 listings and several BPOs that lead to some listings..........never got anything when I purchased lowest level.  Guess it works or depends on the area you service.....

  • Does anyone have any updated Promo or Referral Code for the Professional Verson??

  • Read through the forums here, and elsewhere outlining the benefits and risks of paid services.

    I bought into RESNET for several years - WASTE OF MONEY!!!

    Just days before my membership would run out, company would give me notice that they had a listing for me in my area...


    Don't think so.

    And E-V-E-R-Y one I got through RESNET were awful, not the usual and customary.

    If you start to get into REO's a bit more, you will see that banks/government agencies, and their managers (AM's, etc.) really don't have a clue. Do NOT wonder any longer why our economy is in the position it is!

    1. They use difficult to use and cumbersome software platforms (LPS Invoice Management has GOT to be the worst!)

    2. They often use sub-standard agents to represent them - as I wrote about yesterday, we see small little boutique companies with only part-timers, or out-of-area agencies (many over 2 hours away), or agents with questionable standards and/or professional reputation in the community. Yes, I'm generalizing here a bit, but I CAN easily substantiate.

    3. They offer sub-level fees for BPO's and as a result get sub-par valuations.

    4. They seem to care about selling memberships more than actually trying to identify top-grade real estate pros. Every day, I too am inundated with e-mail requests to sign-up with promises of huge gain through exclusivity and new forecasted order volume. And, the biggest carrot they dangle???: yup, they promise you L I S T I N G S !

    Bull crappy!

    I've tried and call-out several AM's and bank reps on some of these concerns. Their response has always been the same--they don't care.

    In one instance, I highlighted the fact that a particular agent had been let go on almost criminal grounds (and, had been with 4 companies in about the same number of years). The AM was almost as nasty over the phone as the agent in question usually is...Birds of a Feather.

    Another time, I questioned hiring a company totally out of our area. How could they (and they couldn't) accurately assess value? They didn't have access to our MLS nor were they aware of local market determinants?

    In response, bank said they didn't have anyone in area approved by their National Vendor List.  OMG!

    And another, when I showed them how obvious deficient in almost every category even just the MLS Listing Sheet was?  Well, you'd think I insulted the AM directly, that's how offended they were.

    I would LOVE a job where I could travel around to different regions and clean up the industry. We need accountability and until we get some, it's gonna' be bad business as usual.

  • I paid for professional membership last year. Will not be renewing.

    Very poor investment on my part. One BPO, no REO assignments. No servicers mentioned seeing me on the platform. I did, however, over the last year bring on 4 new clients. They all use Equator.


    Only the use of the platform for my own listings was the benefit for me on and I found it clumsy at best. Buyers' agents protested 90% of the time at the prospect of having to enter their offer into (and register themselves), so that feature was no help unfortunately.


    What really got me was that any training session for is another opportunity for them to push their professional membership packages & exorbantly priced banner ads. Add in the games, promotions, rewards programs, hidden clovers, & jewels-- & you realize the marketing gurus are really thinking you haven't outgrown your childhood fascination with flashy, sparkly, meaningless rewards that you essentially paid for with your own dollars to begin with. (Chuck E Cheese any one?)


    I'll be back on board when a client has an asset in the pipeline for me and informs me they use the platform, thank you.

    • Just an update: NO kidding, within a week or so of my membership expiring (3/27/2012) Bayview emailed me a new assignment outside of So I am back on board. Interesting timing. *Sigh ;)

      • Jenny - with any luck at all you'll make enough off the commission after costs to pay your renewal.  Of course the renewal is a tax deduction.  Strange thing about tax deductions is that it's money we spent.

    • Let your clients tell you where you need to be.  Signing up with the various platforms is not going to get you any business.  Find your business first and that will determine where you spend your dollars for the various platforms.

  • RES.NET and Equator - agreeably are the two "must haves" - the others are more along the lines of "just in case you get found there."  My business is almost strictly RES/Eq and Fannie/Freddie as far as REO's go. 
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