Hi REOPro Members,
So...REOPro has been approached by a large national buyer of distressed properties whose model is to buy, fix and flip.
They are hoping to leverage our 15,000 members to bring the distressed properties from around the country that they can push through on their model to buy, fix and flip.
Right now, it appears that members will go to REOPro, click on the "Buyer Direct" tab, input their property details and withing 48 business hours, know if our national buyer is interested in learning more.
As it stands right now, access to the Buyer Direct portion of REOPro will be a paid access section with a reasonable annual fee of only $29.95.
Right now, we are working out details like referral fees...if any, offer tracking, etc......
If this all pans out, our members will be able to go out into the market place and solicit listings knowing we have a buyer who is ready, willing and most importantly able to make a deal.
Replies
Question: Are these buyers interested in purchasing short-sales? I'm a little confused as to how the realtors will be involved in the match making, if they don't already have an REO listing...
Hi Kathy,
These are investors so, if the deal meets their financial requirements, their interested. Just fill out the online form and submit your property. We will match it with the investor's criteria matrix and if interested, they will reach out to you directly.
REOPro Default Professionals does NOT broker real estate transactions. We are paid by referring real estate professionals to buyers of distressed real estate assets. Terms and conditions of any and all agreements between participating parties are not endorsed, recommended or otherwise known to or by REOPro Default Professionals with the exception of our annual subscription fee and real estate licensee referral fee.
Alright....so, this is the big week, we go live. At this point, I am waiting on the Paypal verification stuff to be finished and then we will be ready to start the Buyer Direct program. I expect to be up and running by Wednesday, at the latest.
Great job Jesse, It takes a big heart to do what you are doing. Thank you. Now are you going National? You will cover the entire country? Let me know.
Buyer Direct is national. Our institutional buyers are interested in property from all over the country, including US territories.
So when can we sign up for "Buyers Direct"
I am almost ready. I have got to complete some final change request a couple of our buyers made on our Buyer Direct Form...those will hopefully be done and tested today. Then I got to get one final look over by the attorney's ..... which may take a few days and then we should be ready. So, all said and done, I am fully expecting to launch early next week.
Hi REOPro members.
As many of you know, my name is Jesse Gonzalez and I am the Owner / Administrator of REOPro Default Professionals.
I am extremely pleased to announce that we are on schedule to going live next week with REOPro's buyer referral network, REOPro Buyer Direct.
Many of you have been following my forum thread for the most recent updates and still others have been sending me emails asking questions about the program so, let me share some of those with you now.
Q: What is REOPro Buyer Direct?
A: REOPro Default Professionals Buyer Direct Referral Program aka Buyer Direct is an online marketplace owned and operated by Liberty House Realty LLC, that finds and connects the real estate professional to verified national direct buyers of distressed real estate assets. When real estate professionals submit a request to find a buyer for their specific distressed real estate asset, we use our buyer's preferences, choices and interest to match the real estate professional with a Ready, Willing and Able buyer. Due to the possibility that some assets may match multiple buyers, we will occasionally match real estate professional with several buyers.
Q: How much does it cost to be a part of REOPro Buyer Direct?
A: REOPro Default Professionals membership is free however, membership and participation in the REOPro Default Professionals Buyer Direct Referral program has an annual membership of $29.95 US Dollars plus a 25% referral fee paid by the real estate professional at the time of closing on any and all properties they submitted to the program where REOPro Default Professionals provided the buyer referral. The annual membership fee is paid upfront and is non-refundable.
Q: Is REOPro a licensed brokerage?
A: No, REOPro Default Professionals is nothing more than a scalable hosted platform that provides the technology to publish and connect with a community distressed real estate professionals. REOPro Default Professionals is owned and operated by Liberty House Realty LLC which is a licensed real estate brokerage in the State of TN and in good standing with all regulatory and statutory requirements to participating in real estate referrals nationwide.
Q: Who are your participating buyers?
A: REOPro's participating buyers are hedge funds, trust, portfolio managers, and other high net worth individuals who are looking to purchase non-performing and or distressed real estate assets. We have existing relationships with many of our participating buyers and can confirm they are Ready, Willing and Able to purchase individual assets as well as bulk or tape on a national basis. Currently, our buyers represent a minimum of 1,004,000,000.00 in liquid funds for purchasing that we have verified.
Q: Do your buyers want to fix and flip or hold and rent?
A: We are currently working with 4 national buyers, they each have different programs they work their purchases through. Some buyers are fix-n-flip while others are fix-n-hold while still another is offering a fix-n-flip equity partnership with the local agent who offers up the distressed asset. When real estate professionals submit a request to find a buyer for their specific distressed real estate asset, we use our buyer's preferences, choices and interest to match the real estate professional with a Ready, Willing and Able buyer. Due to the possibility that some assets may match multiple buyers, we will occasionally match real estate professional with several buyers.
Q: Can you guarantee me that I will get a referral out of this program in a year?
A: REOPro Default Professionals nor Liberty House Realty LLC brokers real estate transactions through the Buyer Direct program. We are paid by referring real estate professionals to buyers of distressed real estate assets. In other words, we are not the deciding factor as to which properties our buyers will or will not purchase. This is completely out of our hands as we are nothing more than referring the buyer to you based on the buyer's desired matrix. Terms and conditions of any and all agreements between participating parties are not endorsed, recommended or otherwise known to or by REOPro Default Professionals with the exception of our annual subscription fee and real estate licensee referral fee.
look forward to bringing this exciting program to each of you and can't wait. I am sure our first year will be wrought with growing pains and obstacles but, together, I think we can work through these issues and develop a solid referral network for our members.
Hi Jesse,
You said there will be a 25% referral fee, and also stated that you are not a real estate brokerage. In Texas, we are not allowed to pay referral fees to anyone except a licensed BROKER.
Are the referral fees actually paid to Liberty House Realty LLC?
Please clear this up for me.
Thank you,
Susanna
The 25% referral fee is paid to Liberty House Realty LLC, who owns and operates REOPro Default Professionals. Keep in mind, REOPro is the technology platform for the social media, it is NOT a brokerage, that's where Liberty House Realty LLC comes into play.
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