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USRES and RESNET are they worth it?

I was offered listing today by USRES, but they said I must register with Resnet to get tyhe listing. They charge the agent $250 a year to be registered, then they dictate how the commission will be distributed, (listing agent 2%, selling agent 3%, and they take 1%). Should I take it.

Posted by Paul Durry, Broker Associate, CHMS, I.R.E.S. on 08/13/2008 05:04 PM

Comments (20)

Post is included in group: Activerain MLS Online
Post is included in group: Realtors®
Post is included in group: REO

20 Comments on USRES and RESNET are they worth it?

AUG

2008

I have used ResNet for about a year, and I am doing my first deal with USRes right now. I was surprised by the listing contract terms, but they gave me my BPO price, we had multiple offers, and with less than 7 days on market time we have a signed offer. I do a lot of REO work and some companies are better than others for the commission split but not as great with pricing. I took this one with USRes as a 'test' and frankly, unless something goes unbelievably wrong with the transaction from USRes' side, I'd take another one just fine.

The answer is YES...they are worth it...you will make your money back 10 times over with res.net... I love them

They are worth it. I have listed and sold three this year for them. You will be happy with them.

Sounds like they are worth it, I registered with them months ago, but we haven't received anything.

AUG

2008

Thanks for the post Paul.

Looks like I need to check Resnet out...thanks everyone

Hands down Res.Net is worth it!!!! For what I have received through that avenue thus far...I would have paid $1000!!!! No question...

AUG

2008

I've done about 10-12 free BPO's for USRES...but haven't signed or paid with RES.net. I've started declining orders for BPO's because I just can't pull the trigger and pay the $250.

Tim, I have done a total of 2 BPO's for them. I was paid for the 1st, and the 2nd one I did last week. But before I got the second request, they had already offered me a listing opportunity. I accepted, and ask will they waive the 250 for 6 months so I would get a feel for the resnet. They agreed!!!!

It sounds like it's worth it to sign up to resnet. It looks like you still have to provide your credit or debit info onto their site.

Well mike like I said, I got them to let me in for free for six months, thus I did not have to give any card information. I may be the only guy they could go to list with in my area, thus the agreement to let me in for free. Because I told them they had some very one sided procedures. First they want you to work for free to qualify to get a listing, then you must pay $250 to enter the listing into tyhe system and maintain the listing requirements, then once the property sells pay them 1%, pay the selling agent 3%, and listing agent get 2%. I told them that was kind of one sided. So they got me into the system for the 6 minths.

JAN

Does USRES make good on the money they owe you? Everybody getting what's owe to them

JAN

Brenda,

They do indeed pay, but I have a few of my contractor's complain how they are slow. They say they have a 30-45 day turn around.

MAR

Glad to hear the positive comments about res.net system and I will sign up with USRES and see if that will add business for me.

APR

I have worked for them for a year. They are very reliable and serious company. the contractors get paid and you should let them know that turn around time for payments is 45 days. they seem to be happy. Thumbs up

I have been registered with USRes and processing bpo orders for about 3 months. I am completing about one a week. I am glad to see that others have has positive experiences with their company. I hope to convert many of the BPO orders into listing opportunities in the near future.

MAY

I've decided I'm DONE with US RES. They have taken advantage of me by having me do free BPOs & I have done same day service on most.

Then, I got one that there were literally NO comps that met all of their parameters (square footage, age, distance, etc) so I called them to see where they wanted to grant some "flex" in their parameters. They basically argued with me & said that I had to meet every parameter. Umm... can't create recent sales that didn't exist & can't add listings that aren't really there just because you have "parameters" to match.

According to them, I was the one who was wrong. Since I'm the Real Estate expert in this area & since I sell several million dollars of properties a year, I think I would know more about market comps in the area than they would sitting in their desk looking at google from California. After 20 free BPOs & nothing else to show for it & being unappreciated & the brash conversation, I'm done.

I am an REO agent. This wasn't my first BPO. I've done hundreds. Done....

Well I can appreciate your comments about the company. When I started this discussion it was the first time I had dealings with them also. But since that time I have received many listings through the RESnet portal. I have done my share of freebies also. It is not the company USRES that is difficult, but sometimes the lender they are seeking information for. The lender sets the parameters not USRES. When I usually get an assignment from them for a freebie, I check and make sure that there are comps to finish the product. I know many are under the assumption that if they ask you to take an assignment you must in order to keep your freebie count up. Trust me there is no set amonut you must do before receiving a listing.

MAY

USRES SHOULD BE CALLED USARY INSTEAD! THEY PROMISE THE WORLD. I AM GOING TO LET ALL AGENTS IN MY AREA KNOW ABOUT THEM!!!

Let me give you my system of how to work with them, just email me or call for a direct response. The walls may have ears!!! Or they may monitor this blog...

JUL

Res.net has proven to be a huge waste of money for me. They are referring agents who live 85 miles or more from our market to their asset managers. One of the agents is paying me a referral fee to show her listings because she is so far away and not a member of our board or MLS, which means the listing is not even showing up for sale in my market. I do not know if that agent paid the $250 sign up fee, but I did and have received nothing for my money.

Right now, I am the ONLY local agent who knows this home is currently for sale. Res.net does not care about giving quality customer service to their paying clients as proven by the response to my emails which are canned and do not address the issue of giving the listings to agents outside of our market.

It's all about the buck with them. I wouldn't waste the money.

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