Who is registered with ResNet and what membership do you have?  I really don't want to pay anything just yet...I have the standard membership.  Just need to know if it is worth the $$$.  Thanks

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  • I have been registered for a few years, pay $700/year, and was contacted by an asset mgr because he saw my profile on RES.NET.  I sold that first property and ended getting about 7 more listings from that one bank.  Then just recently got 3 more listings directly through RES.NET from 2 companies I had never contacted or even knew about.  All through RES.NET.  So it paid off for me.

  • We have done several for resnet and have never had any issues with them.

    • No one does anything FOR Resnet. It's just a platform. 

      • Ok, agreed. Poor choice of words on my part.  But you all know what I was referring to .

  • My broker and I each have a full membership. He's been an agent for 10 years (7 doing REO) and has 13 listings in there.

    I've been an agent for 2 years (Appraiser for 7, but that doesn't carry much weight on the sales side) and have zero listings... although I've had 3 through and in the end, it's more than paid for itself.

    If you get one decent closing, the membership pays for itself. That's pretty much my take on it. I did opt to renew this year, so maybe I'll get more than 3 listings... you know... maybe 4. :-)

    • Thanks for your thoughts.  As I told Sam earlier, it is too expensive to gamble.  I am going to wait to see if REO picks up in my area.  I am in Texas and the market is hot here and just don't know where REO is going.  If the resets come through then there may be more activity.  Thanks again.

  • I really couldn't say. I've been registered from the beginning when it was free. Before and during the crisis. I have 8 listings w 3 different clients and 2 in the pipeline. I think I get the listings due to my time in the business.  

    It has been slow for years up until the last couple of months. I worked with one of my clients before they used resnet. And now I pay for the highest membership because they require it. 

    It will be worth it for me this year. But I wish it was per transaction like one of my other clients which uses their own platform and bills after the sale. My broker pays for that bill. 

    • Thank you Cece.  I had an email from Old Republic stating that in order to get listings I needed the $700 membership.  That is pretty steep since no listings are guaranteed.  I, too, have been in the business for many years.  18 to be exact, 10 as an REO agent and the remainder as asset manager.  I am just now getting back into the real estate business after several years in corporate real estate as asset manager.  I am in Texas so I am not sure how the REO biz is going to go this year.  Thank you so much for your response.

      • I haven't seen any OR listings since around 2007. I used to get quite a few before that. 

      • You check the reo sales and look thru the records for seller bank name in your area.

        I know Old Rep Default Service practically had "0" REO listing from day one in this area. 1,000 local agents signed up, 98% never got a single listing...We have perhaps 100,000 agents in the Bay Area. 

        In 2015, there may be 5 reo sold in the entire south bay I got 1 through signup may be 5 years ago. I don't pay any fee. One agent pays Resnet I think he has not got for a long time. He is retiring.

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