REOPro Makes the Agent the AMC

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.

Hi Antionette,

I understand your concerns however, if....IF, we have a membership fee for this program, it will be very low. I can't foresee it being more than $20-$30 a month. If that is more than you are willing to pay, I completely understand and appreciate that however, this just may not be right for you.

As for a guarantee....well, I don't know that we can ever really guarantee someone business. As Realtors, I understand we are always looking for that "Exclusive" agreement however, as a AMP (Asset Management Provider), we don't get "Exclusive" agreements because our success and future assignments are strictly subject to the performance metrics we are graded on. Personally, I prefer it this way because, it allows banks and lenders to weed out ill performing AMPs and likewise, it gives the AMPs the ability to weed out ill performing agents. Unfortunately or fortunately, depending on how you look at it, I prefer a performance based system because it doesn't lower the bar on performance and keeps people honest. It's hard to argue against a top producer who has consistently performed vs. arguing that you aren't happy with someone and you feel your exclusive agreement is unfair. For any program / platform we work with, it will have to be performance based.

As for throwing your money away, once again, I understand your feelings. I myself have "thrown money away" on many platforms and programs and I don't ever want to do that again. What I can tell you is, if you end up bringing business in to REOPro and using "our" platform for your marketing effort, to capture your local banks, lenders and credit unions, then it's on you to keep that relationship going and ensure your client is happy. All we want to do at REOPro is give you the credibility of a national network, offer you educational resources, help you prove to your potential clients that you have a technology that can really help them. I don't want to be the one who says, "Mr. lender, you have to use Antionette and Antionette, you have to use Mr. lender". I don't think that is our place as REOPro. Now, that may change and I will reserve the right to evolve my opinion on that but, for now...that's how I feel.

As for revealing information to the platform / executives...well, that's going to happen. As an executive myself, I will always reserve the right to contact whoever is using the REOPro platform, customer, client, member alike. In fact, for the protection of all parties, REOPro will have full and complete access to all information shared on it's network. With that being said, our members won't have access to other members information or client bases....that's not fair at all and now how we would do things.

I don't share your opinion on what platform executives should be concerned with. The reality is, due to the confidential and legal matters involved in disposition of real property, someone will have to play the role as administrator and that would be REOPro executives. Exactly what are role is and how it's defined, I can't say just yet, we haven't gotten that far, we are still working on tyring to find a platform provider however, I assure you, it will be much more involved than just collecting dues.

I don't plan on REOPro every reaping what others have sown but, I do plan on making sure a REOPro platform is transparent, consistent, reliable and adheres to laws, regulations and local customs.I don't plan on making REOPro some sort of strange bait and switch program.

As for the idea of selling shares, this has come up. In fact, I have been talking with a 501c3 consultant who has brought up the idea of making it a non-profit platform. This idea is very intriguing and is something I am seriously considering. I wonder if we have enough people who would volunteer their time and energy to make a non-profit work?

Replies

- - Jesus (Jesse) Gonzalez > Antionette August 13, 2013 at 4:54am
    
    Hi Antionette,
    
    I understand your concerns however, if....IF, we have a membership fee for this program, it will be very low. I can't foresee it being more than $20-$30 a month. If that is more than you are willing to pay, I completely understand and appreciate that however, this just may not be right for you.
    
    As for a guarantee....well, I don't know that we can ever really guarantee someone business. As Realtors, I understand we are always looking for that "Exclusive" agreement however, as a AMP (Asset Management Provider), we don't get "Exclusive" agreements because our success and future assignments are strictly subject to the performance metrics we are graded on. Personally, I prefer it this way because, it allows banks and lenders to weed out ill performing AMPs and likewise, it gives the AMPs the ability to weed out ill performing agents. Unfortunately or fortunately, depending on how you look at it, I prefer a performance based system because it doesn't lower the bar on performance and keeps people honest. It's hard to argue against a top producer who has consistently performed vs. arguing that you aren't happy with someone and you feel your exclusive agreement is unfair. For any program / platform we work with, it will have to be performance based.
    
    As for throwing your money away, once again, I understand your feelings. I myself have "thrown money away" on many platforms and programs and I don't ever want to do that again. What I can tell you is, if you end up bringing business in to REOPro and using "our" platform for your marketing effort, to capture your local banks, lenders and credit unions, then it's on you to keep that relationship going and ensure your client is happy. All we want to do at REOPro is give you the credibility of a national network, offer you educational resources, help you prove to your potential clients that you have a technology that can really help them. I don't want to be the one who says, "Mr. lender, you have to use Antionette and Antionette, you have to use Mr. lender". I don't think that is our place as REOPro. Now, that may change and I will reserve the right to evolve my opinion on that but, for now...that's how I feel.
    
    As for revealing information to the platform / executives...well, that's going to happen. As an executive myself, I will always reserve the right to contact whoever is using the REOPro platform, customer, client, member alike. In fact, for the protection of all parties, REOPro will have full and complete access to all information shared on it's network. With that being said, our members won't have access to other members information or client bases....that's not fair at all and now how we would do things.
    
    I don't share your opinion on what platform executives should be concerned with. The reality is, due to the confidential and legal matters involved in disposition of real property, someone will have to play the role as administrator and that would be REOPro executives. Exactly what are role is and how it's defined, I can't say just yet, we haven't gotten that far, we are still working on tyring to find a platform provider however, I assure you, it will be much more involved than just collecting dues.
    
    I don't plan on REOPro every reaping what others have sown but, I do plan on making sure a REOPro platform is transparent, consistent, reliable and adheres to laws, regulations and local customs.I don't plan on making REOPro some sort of strange bait and switch program.
    
    As for the idea of selling shares, this has come up. In fact, I have been talking with a 501c3 consultant who has brought up the idea of making it a non-profit platform. This idea is very intriguing and is something I am seriously considering. I wonder if we have enough people who would volunteer their time and energy to make a non-profit work?
- Linda McKissick > Jesus (Jesse) Gonzalez August 13, 2013 at 3:10am
  
  Have you talked to Thomas Moore at eBrokerHouse? http://eBrokerHouse.com/
  
  I hope you are able to find a workaround for this bump in the road, Jesse.
  - Fulton Gaylord > Linda McKissick August 13, 2013 at 4:23am
    
    Hi Linda!
    
    Are you the same Linda that's with KW in Texas?
    
    We actually met down at home office years ago when I was opening my KW in NH.
    
    Hope all is well?!
Alfredo Miranda August 12, 2013 at 6:34pm

Hi Jesse

Any updates in the platform?

I am ready

Thank you
Carolyn Russell August 12, 2013 at 12:52pm

The idea was discussed on linked in and I made offers to do what I can but although everyone says count me in no one seems to know how to begin. i would be vary anxious to help in any way I can since this may be the way to go after all of the REO agents who are well experienced know what banks look for. Let me know what I can do to help to start to get our own platform and move on it. You can email be at crussell@florida-foreclosures.com Let's move on with this.
Jill Grieco August 9, 2013 at 4:41am

I would be interested in this too. Would like to know more about the platform that would be used. Please keep us posted. Also, why stop at foreclosures? What about including short sales?
Jesus (Jesse) Gonzalez August 5, 2013 at 1:33am

Status Update - Should have a status update some time this week. Keep eyes pilled.
Hector Torres August 4, 2013 at 2:10am

Let'd do it !!
Pete Babashoff, NRBA, RDC Pro July 30, 2013 at 7:47am

I am all over this and already am door knocking the them. Having this to offer is just another foot in the door.
Mary Wilcox July 29, 2013 at 7:38am

Love this idea!

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