I've been with REO Trans for several months now - received 3 listings through them. The system can be frustrating when it's not working properly (like a month ago) ...
I'm not thrilled that one of the listings is taking a 30% referral fee - two of the listings are just using REO Trans for monthly status reports and aren't taking a referral fee.
Good luck :)
All those REO newbies...This business is about servicers and not banks, they are too busy to deal with all of us. The fees charged are referral fees and everyone will do that in this market. The are some they only pay $1500 to the listing agent, you better make sure you are in the right business to pay for your work.
I just joined reotrans, so far I am getting that some love and some hate! I will see.
Interesting. How many companies are charging a referral fee?
Im more interested in getting started in doing BPO work first then transitioning into REO possibly later.
Interesting. How many companies are charging a referral fee?
Im more interested in getting started in doing BPO work first then transitioning into REO possibly later.
I should have read all your post about reotrans first--I just singed up and purchased a few zip codes---I will try it for a few months and it I don't see results--I too will be canceling---seem that if they don't produce-they will be out of business soon!
Can you give us an up date?
I was required to join Reotrans because that was how info was transmitted when I had a REO listing through Integrated Asset Services. It was new last October(for IAS) and pushed upon me with no warning. Took awhile to figure everything out, but it was a transmittal service. They give you the zipcode of your office free, and you can sign up for others in your MLS area for a nominal fee. I have NEVER been given a BPO through ReoTrans, although I do many for other services. So far, no more REO listings. I pay $4+ per month. I am staying with it until the end of the year, then reassess. Small $. Janice Norvell Long and Foster Roanoke VA
We just received a new listing from a different lender than Countrywide, and I think it was due to paying for the zip codes.
I joined reotrams about a year ago and the only one reotrans helps is reotrans.
I bought all the BS, have an indepth pertfolio, have listed about 4 reo listings on the site and not one dam thing in return.
reotrans is rip-off.
You want BPO"S and REO'S?
Buy the list from a fellow realtor!
I am pretty new to REOTrans. I like how ResNet works, but I thought that I would give it a try. I did get a listing on month 3. It is still pre-marketing, but looks good. REOTrans seem to be a fairly efficient way to track your listing data. I am a bit confused as to who is actually asking for all of the W-9, License, E&O info... Is that the Asset manager?
I just joined REO Trans after contacting some lenders and they directed me to them. They indicated they did not need anyone in the area but would be using REOTRANS as their vendor. So I will be monitoring to see what happens. Any other suggestions for someone looking for reo business?
I was directed to REOtrans by lenders, but I have not had any direct business from REotrans. I have purchased many zip codes for over three months and decided to stop paying for the service. I am still signed up but I dont pay anyomre.
Would just like to inform everyone trying to get BPO's on the REOTRANS site from Equity Pointe...YOU ARE BEING DUPPED!!! The reason you can never get on fast enough to accept a BPO is that they are NEVER givin out to the general public rather they are givin to pre determined individuals.....that is why they just recently have stopped identifying the accepting agent....It is a total scam and I have complained to REOTRANS but they never answer either.....
Fairly new to REOtrans, but interested to see what comes of it...so far I haven't seen an direct activity...but you never know if some business is coming in from REOtrans indirectly
REOtrans, Equity Pointe are both pulling our leg(s). They have their picks and that is that. Some of the others are the same.
Our company has 27 listings that are run thru REOTrans EMS (Electronic Management System) site. I currently have 4 with them and in the past year I have sold around 12 or so that were run thru their site. We have at least 6 clients that use REOTRANS as their EMS.
Yes, I have had forms trouble - sometimes it is because I am using a newer version of windows, and sometimes it is their site. Overall I think REOTRANS is a good EMS.
I joined REOTrans because it was required by the lenders/asset managers. I have received BPO companies contacting me from my premium posting. No new REO business from it yet. I am amazed on the amount of views that REOTrans says I have received. With that many views I should be getting more phone calls and emails. The only problem I had with the forms is when I used Safari instead of IE. Aloha Julie
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