Has anyone had any experience with this company? I have provided about 10-15 free BPO's for USRES and have not received any REO's. They claim they will provide REO business if you do their BPO's. Many of the BPO's I am doing are properties that are in foreclosure and vacant. Eventually they will be foreclosed upon. Am I just being inpatient or will my work eventually pay-off. My name is on every BPO. Also, I am signed up with other BPO companies like clearcapital who only gives you 5 minutes to respond before they send the order to someone else. I have a couple of companies like this and it is very frustrating. I got an iphone for this purpose.
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I complete free BPO's for USRES. Since Sept 2008 I have completed over 55 free BPO's. I have also received several listings from them. I was not signed up with RES.NET until I was assigned my first listing. I watch my county sheriff sales closely and wait for them to appear on the list and foreclose. I have noticed that it can take 2 months to 8 months for the house to foreclose until I receive the listing. I have also been assigned listings that I did not complete the BPO on when the home was in foreclosure. I have been very happy with USRES and I do not mind completing free BPO's. I have keep a detailed spreadsheet of all the BPO's that I complete for them. I have also noticed that 80% of the BPO's that I have completed appear on RealtyTrac.com under the pre-foreclosure tabs or Auctions tab. There's a few agents in our office that get paid for USRES BPO's which means they will not receive listings.
This company is also the owner of www.res.net. They charge 250 dollars to register and it is supposed to help with exposure to the Asset Managers and Banks. There was an damming e mail that I got a few weeks back and it made some good points... About Pay for Play... and Agent at Gratis. There were some changes in the Ca. Code that control BPO'S. I would move forward with caution giving away free services. In Cal. you can not discharge the liablity by doing these for free as I understand the rules.
Hi Ronnie, I've had experience working with USRES on the buyer's side in my area, and I also signed to do BPOs (free) for them. So far nothing...no BPOs either! They do state that's the only way to got litings from them, AND that sometimes agents have performed upto 15 BPOs beforegetting a listing. So, you may be close!! That's a lot of work to do for free, so hopefully it will pay off for you soon!!!
Also, on the getting to your BPO orders fast it's probably normal for everyone. Most companies I work with are like that. So, unless I'm having to show houses or physically having to work a listing (cleaning, staging, inspection, whatever), I do ALL my work at my computer first and leave the rest for either after 5pm or weekends so that I don't miss any orders. Also, there is one company I know (marktomarket) that sends orders via email blasts automatically, at night! I'm ready for them too! My blackberry will alert me and I can try to get to the order quickly, BUT so far several times other agents have gotten to it first! Yikes....the competition is fierce!! >:o
Thanks to all who have replied to this discussion. I have gained some very useful information. I have now completed about 25 BPO's for USRES and still have not received a listing. But I did email vendor management and they said they would keep me in mind, although that sounds more discouraging than encouraging. I did notice that one of the properties I did a BPO was recently listed with another agent. I have also noticed that my BPO's are sometimes second opinions. However, I will continue to do the BPO's because I have faith that it will pan out. Our market is now seeing a surge in foreclosures where other markets have experienced this a lot sooner. Of the 25 BPO's, I have only seen one property go on the market for sale. So it means they are coming. I also feel that it depends on how saturated a market is with other agents. I know if I turn down a BPO someone else in the area will get it. So there are other agents competing for the same business! Those that have been fortunate to get the USRES REO's right away, may not have the same agent competition as other areas. Also, I don't know that there is really a ratio for BPO's versus listings. Everyone responding to the discussion seems to be reporting a different number.
Eric Nguyen > Ronnie Dwyer-WilliamsJune 26, 2009 at 2:06pm
Ronnie,
I've done about 6 free BPOs for USRES and got 1 listing from them last Dec. I sold it within 30 days but since then I haven't received any other order for BPO or new listing. But the good thing was that another company who use RES.NET platform gave me a listing out of the blue. The BPOs you've done for them won't be given to you, FYI. When they give a listing to you it'll come as an email offering you a listing and asks you to accept. So don't be discouraged, I am sure you'll get listings from USRES sooner or later. Only when you are given a listing then you'll have to pay $250/yr to sign up as listing agent with RES.NET.
Ed Richard > Ronnie Dwyer-WilliamsMarch 21, 2009 at 1:31am
i like the company and also their site. just do as they ask and before you know it you will get reo listings. think about a few free bpo's vs. the commision on several listings commisions ??
I've gotten REO business from USRES. And I don't believe I did any free BPOs beforehand ... they're a good company to work with. I'm sure they'll send you a listing soon.
I spoke to the vendor liaison's assistant today who assigns the reo listings & she said nationwide they try to assign a listing when you reach 10 bpos. I am due another one & she said she was flagging me for a reo listing in my area since I'm on 16 since my last assignment. She said with the flag it will push me ahead of other agents within my area & it does help that I’m rated 5 stars for my bpo performance. She did also say that within the last 30 days they have slowed down due to the foreclosure moratorium with some of the major banks.
We have been working with usres for about two months. We completed about 30 free BPOs and then I saw a post here that you needed to ask for a listing from usres. Coincidentally two of our agents sent an email on their own initiative requesting a listing and we received two within a week. They seem to be really easy to work with. I do think you need to be patient, communicate regularly, and be willing to pay your dues. Reading through these posts is so helpful! Thank you!
USRES will pay you for any BPO but you have to ask for payment. I work as a team and I do all the BPO's. We have only todate in the lst 4 years received one listing from USRES but at least now we get paid for every BPO we do for them.
Replies
Also, on the getting to your BPO orders fast it's probably normal for everyone. Most companies I work with are like that. So, unless I'm having to show houses or physically having to work a listing (cleaning, staging, inspection, whatever), I do ALL my work at my computer first and leave the rest for either after 5pm or weekends so that I don't miss any orders. Also, there is one company I know (marktomarket) that sends orders via email blasts automatically, at night! I'm ready for them too! My blackberry will alert me and I can try to get to the order quickly, BUT so far several times other agents have gotten to it first! Yikes....the competition is fierce!! >:o
I've done about 6 free BPOs for USRES and got 1 listing from them last Dec. I sold it within 30 days but since then I haven't received any other order for BPO or new listing. But the good thing was that another company who use RES.NET platform gave me a listing out of the blue. The BPOs you've done for them won't be given to you, FYI. When they give a listing to you it'll come as an email offering you a listing and asks you to accept. So don't be discouraged, I am sure you'll get listings from USRES sooner or later. Only when you are given a listing then you'll have to pay $250/yr to sign up as listing agent with RES.NET.
I've gotten REO business from USRES. And I don't believe I did any free BPOs beforehand ... they're a good company to work with. I'm sure they'll send you a listing soon.
Have a great weekend!
Linda Edwards
Suzanne
www.hermannlondon.com
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