Michael Shannon

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Michael Shannon replied to John Hoffman's discussion CURRENT REO ASSET COMPANIES CURRENTLY GIVING ASSIGNMENTS

"SAMREO, PASREO, SPSREO, USRES, OLD REPUBLIC,"

Michael Shannon replied to Melissa Schildtknecht's discussion RES.NET - Is it worth it?

"YOU HAVE TO BE ON THE BANK'S APPROVED AGENT/VENDOR LIST BEFORE SIGNING UP FOR ANY REO PORTAL, OR YOU ARE PRETTY MUCH WASTING YOUR MONEY.
Most all of the banks/servicers/assset management companies use various REO portals such as Res.net, Equator,…"

Michael Shannon commented on Wayne Gebhardt's blog post REO PAS agent with Wells Fargo What has happened??????

"Many of the larger banks, Wells Included, sold off much of their portfolios of bad loans to investors and they are selling the via Select Portfolio, VRM, USRES and OId Republic. We get a few listings from Wells now compared to years ago."

Michael Shannon replied to Bayo Oshinnaiye's discussion Who has worked with Team Lear asset management Company in Colorado?

"Someone named Faith from LDG (Team Lear) 1-720-515-7037 called me two days ago, used the same exact wording, to the letter, I played along and she transferred me to Grant who asked for my credit card. I gave him a double barrel full, told him in no…"

Michael Shannon replied to Seth Nadreau's discussion DispoSolutions premium membership

"I pay the $300 fee because I have about 10 REO's with them on any given day. I also pay $700 to Res.Net as I have about 40 any give day. Although I don't have any REO;s on Equators, I used to have about 100 so you just never know..."

Michael Shannon replied to James Mathieu's discussion Resnet

"Res.Net doesn't assign listings, it's only an online portal for managing REO's. You MUST be approved with the banks that have the REO inventory in order to get REO listings that are managed on Res.Net. The same goes for iAgent, Dispo, Equator, etc.…"

Michael Shannon replied to Jeffery Shumaker's discussion REO in 2016

"You must be signed up as a paid member with Res.net, Dispo Solutions, iAgent, Altisource, Equator, Pyramid, and be sure you have a listing promoting yourself on the REONetwork. There are another dozen smaller sites with less inventory. Contact the…"

Michael Shannon replied to Michael Shannon's discussion REO AGENT NEEDED IN DESHLER OH 43516

"I messages several of them an NONE got back to me...go figure"

Michael Shannon posted a discussion

REO AGENT NEEDED IN DESHLER OH 43516

I received an emial form an ASSET MANANGER who is looking for an agent to list a home in DESHLER OH 43516.OHIO Agent's only message me.Michael Shannon

Michael Shannon replied to Char Brown's discussion Has anyone worked with SAMREO, Specialized Asset Management?

"Everyone get s 1099 for reimbursements. I've been getting them for 15 years from 20 different AMC's"

Michael Shannon commented on John Hoffman's blog post CHRISLEY ASSET MANAGEMENT

"They are punishing the listing agents in favor of the buyer agents. We are constantly eating the cost of: billing on iClear and LPS, the cost of being a member of portals like DIspo, Equator, Res.net and iAgent, the cost of ordering water bills,…"

Michael Shannon replied to John Thomas Sinclair's discussion REO BLACKLIST OR DO NOT USE LIST… Does it exist?

"not only do the companies have a "Do not use" list, but they also have a preferred broker list. We found out by accident when one of our title companies mentioned by accident that we got inveted to a special function because we were on Citibanks…"

Michael Shannon replied to Jerry ahuja's discussion RES NET AMP

"AMP will NOT get you more business. The AMP rep tells me that 92 out of the 2100 res.net agents in my state signed up so far and if I sign up the asset managers can see my resume......but Asset Manager DO NOT assign properties. Vendor managers and…"

Michael Shannon commented on Jesus (Jesse) Gonzalez's blog post What is wrong with this industry?

"So what your saying is that if I sign up for all of the following companies,
conferences and training, that I still might not get REO business?

Paradigm - $1,000
United REO - $324
Absolute REO - $295
Universal REO - $295
AMP - $495
REO RED BOOK-…"

Michael Shannon commented on Clay Kime, REOM, CDPE, RDCPro's blog post RES.NET delays release of AMP

"AMP is not res.net, rather it is a 3rd party add-on, and they are using res.net to get a foot hold to gain market share. AMP wants you to update all your non reo listings into their system as well, then I'm certain that they are going to try and get…"

Michael Shannon commented on Jose Rivas (DGRA) CDPE, SFR's blog post NABPOP Call to action.

"I disagree. Let appraisers determine values, banks make loans and REALTOR’s sell houses. Everyone can do their jobs without any interference from other parties. In order to stave off future mortgage crisis’s, banks should NOT own real estate…"

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Comments

Linda Landry November 2, 2009 at 3:12pm

Hi Michael; glad for the friend connection. Thanks!
James Clarence Harris Jr. October 23, 2009 at 1:23pm

Hi Micheal,

Thanks for the comment regarding stopping in on the aset managers office while out out. Thats something that I will do.

Thanks again,

James
Jan Baron, RDCPro, CSP, BPOR October 21, 2009 at 4:42pm

Thanks for the blog..you are so right, It's a Banker's Market
Lillian P. White October 21, 2009 at 1:36pm

Wow, congradulations on that tremendous volume of closings! You are doing something right. Myself, I am just starting in the busines and have been doing a large amount of BPO's and follow-ups with the asset companies. To date, I have not received any listings. I did receive a preferred REO agent status with Old Republic after completing a number of BPO's.and then signed up with RESNET. I do know it does not happen overnight and I am continuing to move forward in the industry trying to utilize my contacts within the banks to gain more exposure and access. Please feel free to email me at
lwhiterealtor@sbcglobal.net. Again, continued success in Michigan!!!
Tami Condie October 21, 2009 at 9:39am

Have you worked with Titanium and short sales. Wondering if it is worthwhile or just go on a bunch of appointments and no listings
David Collins October 21, 2009 at 8:57am

Thanks Michael look forward to sharing informaiton in the future
Lillian P. White October 20, 2009 at 2:48pm

Hi Michael,
Thanks for inviting me as a friend. I'm new to the REO busines here in Oakland, CA. Any advice you have would be appreciated.Originally from St.Louis, MO...a midwest girl!

Continued success to you!
Jan Baron, RDCPro, CSP, BPOR October 19, 2009 at 3:02pm

Thank you for the invite, Michael. I look forward to networking with you.
Van M. Agakanian September 16, 2009 at 7:51pm

Michael, I just read your post... Great incite... THANK YOU for sharing! I will see you at Five Star.
Lawrence Steven Krasovec August 31, 2009 at 4:21pm

Michael, I'm a broker in the Riverside county area, California. REO central! I have been getting listings from US bank, formaly Downey Savings for the last 2.5 years. I want to get more assignments from the outsourcers. Do you have any advice? I am going to Five Star(my first time)and staying at the Wyndham and I'm FSC.

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