I have been working REOs for the past 10 years getting 10-15 listings a year. I primarily have been working with one sales manager and probably 6-7 asset managers at this particular servicing company. I got started doing BPOs and just got lucky one day receiving my first REO.
I'm looking to add to this volume going into 2021.
What are some things you are doing to further grow your REO business?
Are you planning on paying for certain platforms?
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I cannot speak to or about any other specific network however, as the admin of this network, let me share some insight. First and foremost, the REOPro Network is free. We do not charge our members for any of the current services we offer. This is partly because at our core we are a "networking" site. More specifically, we encourage our members to come on, share their ideas, thoughts, processes, insights and of course most importantly, who is or who is not hiring.
Another reason we do not charge is because we always want to be on the benefit side of a person’s cost-benefit analysis when it comes to the network. Too often I have heard stories about people who paid $5-$6-$700.00 to be a member of this platform or that network and a year later, they have nothing to show for it. This is primarily because a network or platform are not in positions to be the decision maker when it comes to assignments. We know this but, many do not, and it is my personal opinion those networks or platforms who can’t offer a no questions asked, money back guarantee and promise of future business shouldn’t be taking your cash. If a network or platform is taking your money, knowing they have no ability to get your business, it is fraud.
The REOProNetwork is a resource sharing site. People are members because they are looking to build their brand, build their business and they do that by the tools we offer. The use blogs to highlight their expertise through stories and editorials, the use the forums to spark debate or ask questions to gain insight and momentum, they can upload videos to industry related news or to showcase their media knowledge, they link to their LinkedIn, Facebook or Twitter accounts to case even larger nets. So, the best way to work in the REO industry is to put sites like REOPro to work for you.