REO Agent Edge Looking

Industry Observer with Collateral Specialist Inc

Can anyone share/shed some light on who this company is? They are at present advertising that agents can join for a one time fee of $249.00, however this is not just it! They have subdivided the Broker/Agent category into three (3) different sub-areas. You can sign on to just do BPO's, sign on to list REO assets, and be on the list to market Approved Short Sale assets, all for $249.00 individually!!  They are also looking for Attorneys, Title and Escrow companies, Contractors and other Vendors. (


Comments (5)

Dan Edward Phillips
Dan Edward Phillips - Eureka, CA
Realtor and Broker/Owner

I just looked at the site, Looks new!  I have never received an REO listing or BPO from a company that I had to register with.  They have always found me and contacted me.  Other people may have different experiences.

Keep us posted!

May 10, 2010 09:02 AM
Paul Durry
Collateral Specialist Inc - Lawton, OK
Former Broker Associate, CDPE, CIAS, CHMS

The only one that has worked for me has been resnet. I was contacted via USRES, where they offered me a listing. I accepted but had to join and pay the yearly fee. I think through them I was able to get Fannie Mae listings. Thanks Dan!

May 10, 2010 09:09 AM
Cameron Wilson
Labrum Real Estate - Murrieta, CA
The Short Guy - Murrieta,Temecula,Menifee Californ

There have been many companies like this show up in the last couple of years and most make their money from agents that sign up. Res Net is worth the money but my partner must have shelled out $2000 to a bunch of these and didn't get a thing from them. Be careful.

May 10, 2010 02:04 PM
Debbie Franklyn

I also just received an invitation to sign up with them. I am apprehensive about signing with them.

I have signed with LAMCO, RESNET and so far have only received a few BPO's since December, 2009. If you know more about this company, let me know. Thanks.

Jun 10, 2010 02:32 PM
Jon Brodie

If they are soliciting you chances are they are just trying to take your money. I was signed up with Lamco as well and received odd BPO's and only one assignment in 2 years from them. It was a total dump I couldn't see spending the money to renew. There is another one AMS4REO.ORG. It cost about $200. and they send you an email that you are approved and you never hear from them again. The email might as well say "Thaks for your Money SUCKER" Not to mention, last time I called the number was out of service or something like that. Only reason I joined that one is that LeeAnne Axcell, former Board member of REOMAC was one of the Managing partners. Seemed like it was a good opportunity. Keep your eyes wide open, ther are lot's of scams and cheats out there.

Jan 03, 2011 11:36 AM