REOPro is in talks with a national technology platform about possibly revolutionizing the REO industry by allowing our members to go out into their markets and solicit REO's from small to medium sized banks and servicers.
The idea behind this effort is to make the agent the AMC (Asset Management Company). We have found that many local, small or even regional servicers just simply don't have the technology, expertise, staff or funds to hire or create a true "REO Department" for themselves. Instead, they assign an unfortunate VP of the bank to handle the REOs on top of doing their regular job.
What REOPro would like to do is provide our members with a technology solution that would enable them to go into their local banks, credit unions and servicers and offer them a true AMP (Asset Management Provider) solution. In essecne, creating micro AMP's across the nation through REOPro.
Basically what we would do, is give you access to a technology platform that allows you to customize it's performance for a particular lender or servicer in your area. You then could work for them and become their own little AMP and help them avoid the cost of outsourcing. This way, you could go into Bank of Small Town USA, show them your incredible software, your incredible support, your incredible tracking, etc..... and win them over as their own little AMP.
Truth is, we may never be able to capture a Bank of America or Chase but, a larger underserved market is out there and that is the local banks and credit unions who would like to outsource to a credible, knowledgeable and experienced AMP but, can't afford the cost.......here is where REOPro could step in.
The only question is, will our members go out there, sell our services as a AMP and win business? Of course, you would be our exclusive agent for any business you bring in but, would you do it?
Let me know, love to hear your thoughts.
Replies
Hey Sally...You don't have to take every assignment. You can certainly decline listings in questionable areas.
Edward
You do have to take them because you are rated. Agents get dropped if their rating is not up to their standard. Where did you get the idea you can pick and choose?
Hey Salley,
My mindset is, if you can't handle the business....or better yet, don't want to handle the business the lender you secure is willing and able to give you....get out of the business.
REOPro would ultimatley be the accountability, it would be our name on the agreements / paperwork.
Jesse, I'm in the Sacramento Metropolitan Area and interested. I don't know what I can do for you to help you make this happen should you decide to move forward. Please don't hesitate to call on me if there is something that I can do from my end to help.
Makes sense to me! However, I've long abandoned the effort of trying to make sense of the banks and they way in which they operate their REO depts.
Count me in!
I'd love to help out in Maryland, please keep us all posted!
When is the going to be available to us and when could we get this started.
Right now, we are just in the talking stages with the technology platform but, maybe in the next 90 days or less if all works out.
I am fairly new to the BPO/REO business (2 years) and I am finding that it is a great deal of work for seemingly very little pay. Definitely, interested in hearing more about this and actively being involved in sharing in any innovative ideas and think tanks to determine how it would be implemented in the various regions.
Jesse,
This is again a great idea. I like the idea that is can be used for all types of sales as in the Silicon Valley the days of distressed properties are mostly long gone.
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