Just curious, hold up your hand if it applies: REO Agent (show of hands, just reply yes 1 local bank, yes 2 if REO service company -ie. asset manager), or BPO Agent (just reply yes3 for local and yes 4 for asset manager company).

There are many services out there that hire/use local agents for doing REO or BPO work. I have done business with many of the Asset Management companies over the years and have recently added REOtrans. Any feedback on this company? If you provide company name, I will respond with a blog table of most used companies. I will attempt to do it by area, so that you can see your competition.

What's the saying? "Real estate is a local business driven by local people". If appraisals are being performed via the internet in your market, then market values in your market are being skewed by opinions not based on local MLS data. So your buyers and sellers are being.   

 
Post is included in group: The Economics of Real Estate
Post is included in group: Zillow Discussion Group
Post is included in group: Foreclosures

16 Comments on REO BPO Agents, Are You Out There

yes 3

yes 4

 

Thanks.

03/04/2008 03:48 PM by R. Corbett (Bob Wood Realty)

yes 2

yes 4

Reotrans, is ok, i've only got a few orders from them, you should try http://www.assignreo.com and http://www.reonetwork.com

 good luck

03/04/2008 04:13 PM by Liz

yes 1

yes 2

03/15/2008 10:22 PM by Heather Fitzgerald (REALTY WORLD-Harbert Company, Inc.)

Yes 2

Yes 3

I have had very bad luck with REO Trans. Their communication system is TERRIBLE.  No REOs from them, only BPOs. The management is actually very good. It's the support staff that I you want to ship off to the Space Station permanently.  I have stories!  But for some odd reason, they pay me the fastest. Go figure.

I also sell my list of 173 BPO and REO asset manager vendors. It's all alphabetical, working hyperlinks, and four pages of instructions. The list is $15 and I think the instructions alone are worth $100 in the time they save you.

Email me at info@greenboxhomes.comif interested or it's on Ebay all the time.

I think even I, the one who does this all the time, is going to abandon REO Trans by the end of April.  To that, I am actually LOVING the company called PCVMurcor.

04/08/2008 09:10 PM by Kimberly Dotseth, broker/owner, Green Box Homes

Kimberly, 

I talked to Bear Sterns and they directed me to REOtrans, but I agree with you. They are a pain and not worth my monthly investment. I have enough business elsewhere.

04/09/2008 08:32 PM by David Spencer & Assoc., Broker & Lic. Instr. CE and Pre-Lic.

No to the above, but I would love to get started!    

04/14/2008 01:46 AM by Ahwatukee Real Estate Expert, Dawn Workman, MBA (DPR Realty, LLC)

I'm here in southern cal-Murrieta, Californie. I receive bpo's from REO Trans.i want the reo's!!!!!!!Now!!!What is actually working? Will anyone share their rewarding contacts? MMM.....

04/18/2008 12:04 PM by reo trans

The REO Trans  system has some kinks in it.  Thirty minutes ago I received an email notice that I had a BPO assignment available. Since I was online at the time it was 30 seconds to get signed in to my account and click on BPO.

It was already gone. The time stamp indicates that is was accepted exactly 2 hours before my notification. Whats wrong with this picture? The chat line for REO Trans indicates that this is the most common occurrence.

I am drastically reducing my territory for REO Trans, because I am already performing BPO and REO assignments for two other clients.

04/18/2008 02:31 PM by David Spencer & Assoc., Broker & Lic. Instr. CE and Pre-Lic.

REO - 2

BPO 3

I was registered with REOtrans for a while before I noticed that it is not a good system.  You get the notice, the assignment is gone.  So to me it is a questionable system.

 

04/20/2008 06:39 AM by Rosemary Brooks -Mother & Daughter (866)-750-8282 (Family Realty Group - 866-750-8282)

Yes 3

you need to be staring at your e mail when the assignment comes in on REO TRans otherwise ist's gone.  Havn't got one yet.  There are so many other co to solicite

05/07/2008 05:24 PM by reo bpo

Mark 2 Market is the same way. You would have to be logged on their website 24hrs a day to get any orders.

Green Box Homes - do you get REO listings from PCV MURCOR, or are they just a mill?

06/27/2008 04:56 PM by Abacus Properties Inc.

I have not looked into REO TRans but I think that REoNetwork is bogus!  They only care about taking the monthly advertising fee and not about the ethics or honesty of the agent.  That has been my experience with them, and I would not want to be associated with them---there are so many out there---they will soon be out of business--I hope!

07/05/2008 12:44 PM by REO Broker Your Connection to Bank and Foreclosure Properties (ReoLicensedSpecialist.com)

Doing BPO's trying to get into REO's. Working with clearcapital.com

08/21/2008 09:12 PM by Greg Masson (Century 21 All Professionals)

I haven't gotten anything worth while out of REO trans except a bill.

Anyone else get anything from them?

08/22/2008 11:54 AM by Eric Egeland (Chicagoland Realtor / Broker) (Re/Max United)

I no longer list myself in communities other than my host community. I have received business from just being on their network. Aha!, but its free.

08/22/2008 06:53 PM by David Spencer & Assoc., Broker & Lic. Instr. CE and Pre-Lic.

I currently do BPO and REO's. I started by doing BPO's knowing that this build me up to list bank ownded property. I also have moved into the consulting realm and have begun to help out individuals now

08/28/2008 11:56 PM by Thomas Moore (REODB INC)

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Real Estate Brokerage: David Spencer & Assoc., Broker & Lic. Instr. CE and Pre-Lic.
David Spencer Chicago Metro Real Estate
Bloomingdale, IL
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David Spencer & Assoc., Broker & Lic. Instr. CE and Pre-Lic.

Office Phone: (630) 351-3004
Cell Phone: (630) 750-4255
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Real estate topics on better business performance, education, advanced techniques for selling/buying residential, commercial and investment real estate; 1031 tax deferred exchange, licensing; anecdotes and stories to ponder.

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