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

  •      Res.net used to be such a strong forum, but I havent received anything in3 yrs from them.... I know the market has changed, and now its expensive in general.

        The only thing I dont care for is that any realtor can spend lots of money and can show up big... but many have no real experience... Ive got 14 yrs in this with 12 yrs specifically in distressed sales, hud and reo and I end up having to compete with realtors with no experience.. or little experience but big bucks.

       Very difficult, meanwhile, all my old connections are no longer dispursing assets....gotta start all over, hey, where did homeq go???   lololololol...Sorry, dont mean to put down newbies.. but, it seems to be less and less about quality work and more about $$ and all the fake certifications we need to pay for.... hmmmmmmmmmmmmm

  • It is so great to have a forum where people can express their thoughts and not get pummeled for having a differing opinion.

    • I agree.

      Someday, when my true beliefs and opinions can be voiced without direct repercussions, I'll vent about drivers stuck in the left lane, or why we have sooooo many churches, or why people still smoke, or why we're getting fatter in America, or why families are having more than 2 children...

      These are NOT generally my opinions--simply listing as interesting topics of discussion at a later date (when I retire)...  :)

      And, NO ONE should wonder why we're in the financial mess we're in right now in this country: just go work an REO and SEE how messed up the process is and intertwined with incompetence and administrative failures!

  • Pauline,

    Thank you for taking the time to respond.

    I know I came off as a whiny, crusty, frustrated dummy exemplifying pure Victim Behaviour. I apologize to you and my fellow Realtors.

    I understand your position.

    I think I react to the seeming endless stream of people trying to sell us this that and the other thing. As Realtors, our strongest defense is a solid offense--a Business Plan. That way, we know exactly what we are going to spend our dollars on and why, so that we don't fall victim to the myriad of purveyors all clamboring for our dwindling dollars!

    I know you are a portal. A software platform that allows interaction between Realtor and Asset Managers.

    On my end, I know that because of my geographical area coupled with our demographics, the number of REO's has been, up 'til now, limited. Add to that a high number of Realtors per capita and you can see why I am proactively and aggressively trying to identify any and all sources of foreclosure business.

    I again apologize if I came off hauty-taughty or overly nasty and negative.

    However, it is true, that so far, for me, the business I've garnered from my membership with Res.net has barely covered the costs.

    In fact, if I remember correctly, it was one of your reps that suggested I start interacting here, in this forum, in order to attract the attention of prospective AM's.

    So...here I am! Making a splash already!

    Back to you! OH! And Merry Christmas to you and yours! :)

  • Even though I'm aware I'll probably get blacklisted for writing this:

    I am not enthralled with Res.net.

    I found that the assignments I've received have always been sub-par--I know, what do yo expect with REO's, right? But, I mean, small condos or apartments, unlivable, tough areas, value less than the average local REO etc.

    Also, twice now, I've gone entire year without ANYTHING, then, right before (like days) my subscription was about to lapse, they send me an assignment...I've called 'em on it, but they always say it's just the way it is, just coincidental. Other agents in forums have expressed same with similar experience.

    They make money off charging as many Realtors as they can the yearly fee. They spread out assignments, knowing in any given area there are hundreds of starving Realtors willing to do anything.

    Look at $$$ amounts paid for BPO's--it's been going down steadily. If you try and get more for the job they hang up on you and go to the next Realtor.

    Commissions too have been going down.

    I read more and more forum posts of seasoned Realtors who are saying:

    1. REO business just isn't worth the headaches and work, anymore.

    2. They use the most archaic and functionally obsolete software known to man-have you ever tried using LPS or Equator? Just AWFUL!!

    3. (most important) You can't build a business on REO work--banks have no allegiance to you, don't care about you, and will not refer you to any new business.

    I chuckle when I go into office and agents practically swoon at my feet saying how they too want to be an REO agent!

    Really? I say to them? You know how scary it is to go that property the first time, not knowing WHAT you're going to encounter? You know how frustrating it is to go days, weeks even, without any response from AM or manager? Meanwhile, other agent and/or buyers are screaming at you, berating your professionalism, hounding you as to why you have no word for them.

    Then, when bank DOES finally respond, they always have a 12 hour deadline that everyone must adhere to or offer is dead!

    But, don't get me wrong, I love working those REO's. It's found business, right? I didn't have to do anything besides apply, pay, and show 'em my years of experience and extensive knowledge base.

    Res.net also wants me to buy all sorts of banner ads, but speaking to other agents, all say waste of money.

    Amazing to me how banks "choose" some of their Realtors, too.

    There is one woman in our area who seems to get 75% of all Fannie Mae props. When you pull up her listings, there is usually 1 picture and limited prop info and also limited descriptive blurb.

    But, she sells 'em. Not at best list to price ratio, but bank doesn't care. She was in right place at right time.

    Then, we see agents from hours out of our area getting listings (Ocwen, for example). What's with that? How can that POSSIBLY make any sales sense? But, there it is.

    And, small little boutique agencies get listings and you wonder why would a bank use a teeny little company with limited exposure, limited support, and limited service abilities? Doesn't make any business sense...?

    One other important note: Before agreeing to pay to get into a particular company, get them to put in writing that they even EVER have properties in your region.

    Since I live in a very rural area, I've learned to ask this question, first, and luckily been saved from throwing money away with a company that doesn't even have properties in my service area.

    I would love to go work with some of these banks and clean up their systems and processes. It would actually be very easy...doubt they would have any interest. sigh...

    Res.net? I just renewed, again, because I was in middle of trying to close worst asset I've ever had, so HAD to in order to access AMP! But, out of kindness of their hearts, they gave me their Halloween Discount! weeeeeeeeeeeeeeee!!!

    Would NEVER up-grade.

    O.K., here I go onto the blacklist! It's been fun! Good luck to you all!

    And, thank you to all the banks and AM's I've met along the way! Thank you for the opportunity!

    • your funny and unfortunately.... you right!!! Remenber the days we had to climb in through a window, step over a dead cat and bumb rush a bunch of teenaged stoners out the back door. I cut my teeth on that stuff.With "asset managers" that had no protocols for it either... we all talked, made strategies, and the place cleaned up. teamwork!!----- apparently "teamwork" is a dirty word anymore... now u need to pay for a certificate......hmmmmm

      • I feel your pain, Rose!

        Business changes constantly. I'm not always happy about how, but I'll be damned if I get caught behind and unwilling or able to change with it all!

        It is frustrating that banks don't really seem to care as much about our years of experience and knowledge but rather on the 1st person to sign up and pay the dues.

        I too see a large portion of those doing REO business in my area have been in business only a few years, BUT...they are tech savvy and have proactively and aggressively positioned themselves with REO companies, mostly by just applying on-line and paying.

    • Sorry about your experience(s), Fulton.

       

      I, on the other hand, have a great deal of success with my Res.Net AMP platform & the assignments in which I receive(d) from them.  I have two that are over $400k listings right now, and several over $150k; albeit the majority of our REO's are sub-$100k.  "Take the good w/the bad."

  • I have upgraded to AMP and took the certification. I will update if it brings business.

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