I am in the process of registering for ResNet and I have some reservations about it. Can someone answer the following questions for me?
1. There are two fee to pay for enrolling, the first one is 250.00 for listing and the second one is for 450.00
AMP application. Which one should I register for and why?
2. Have you received any listing from the ResNet application, if so how many and from what lender?
3. Have you received any BPO work from this application, if so what company uses this the most
when sending BPO work to agents?
I really appreciate anyone being receptive to my questions.
Thank You
Comments
The REO in SF Bay is really coming down. The amount of defaults is also tapering off. The so called hidden inventory can be liqudated in 5-6 weeks if all released. This is not stating we are out of the defaults any time soon
I agree with Jose. I highly recommend RES NET. Start at the entry level, the paid level and see how it goes. Like Jesse points out RES NET is a PLATFORM and many servicers use it. In this market BPO's through Res Net are scarce. It may well be different in your setting. As for listings, that is entirely up to the companies that use the PLATFORM. Most have their own agents. If they are looking for new ones, they will most likely look at RES NET first since any agent they use will have to be on there. Good luck.
Great response. I did not know a bout USRES. Can you provide me with the four companies you do business with that uses RESNET? You can send to my e-mail at taylorjohnrealestate@gmail.com. Thank You
I wouldn't just sign up with RES.NET and wait for assignments to come, it is just a platform not an Asset Company. I work with 4 companies that use the platform so for me is worth the investment.
If you want to signup because an application to an outsourcing company ask if you have RES.NET or Equator and you think that having it would give you a better chance to get listings then just go for the $250 one.
1. Truthfully, I can't remember which fee I paid. I am RES.NET certified and completed the RES.NET Agent Certification back at the 5-Star conference in September 2009 so, I don't really remember what I paid.
2. RES.NET IS NOT ABLE TO GIVE YOU A LISTING. Let me be very clear, RES.NET doesn't hand out listings. RES.NET is the technology platform that Asset Management companies use to track their listings and thier progress. My point is, before you sign up for the platform, you should first find yourself an Asset Manager who uses it and is willing to give you a listing, otherwise, it's potentially a waste of your money.
3. Like listings, BPO's are handled similarly however, they aren't necessarily assigned as often as listings are. Sometimes, the BPOs are broadcasted and if you sign in quickly enough, you might get one. Just keep in mind, many people are using BPO automation software now that checks RES.NET automatically and grabs the assignment only seconds after they have been broadcasted so, unless you are using such a software....it could be a lost cause.
Regardless of how much you spend, it all boils down to one simple fact and that is, do you have a pre-existing relationship with a AM who is using RES.NET and wants you to use it so they can assign you work. If not......then, it's most likely not worth it to you.