Special offer

What's up with REOTrans?

By
Real Estate Agent with Realty Executives

Okay, so word on the street is that this system is going crazy!  I've heard agents complaining how they did a BPO four times before they were able to upload it into the system.  I also have an offer out on a property that was entered into REOTrans and the agent is insisting that the system is to blame.  Today marks one week that we presented the offer. 

Is anyone else out there having problems this week with REOTrans?  Any solutions or help on how to get it to work smoothly? 

Posted by

Susan Manning

Comments(6)

Heather the Realtor Orlando, Lake Mary
LemonTree Realty - Orlando, FL
First Time Home Buyers, Bank Owned Homes
Susan any suggestions on how to get into the BPO market or how to obtain REO's? I would love to do more of this and often work short sales.
Feb 20, 2008 10:14 AM
Susan Manning
Realty Executives - Temecula, CA

Heather, you've done the first step by joining this site.  There are lots of resources right here on ActiveRain.com.  The next step is to actually do the research, do the work, sign up with the companies, and don't stop unitl you're there.  You'll get a lot of heat for asking for a hand out on this site, so be careful who you ask.  (and honestly, that is a legitimate beef if you ask me although some can be not so nice in their response.) 

I had an agent here in the office see me doing a BPO for a company who emails you the order directly versus the others that you get by luck of the draw on mass email.  Anyway, I signed up with about 80 companies to get this one lead.  Of course he wanted to know what company it was.  Reluctantly I gave him the info, but really he had no business asking me.  You gotta get out there and do the work yourself.  Good thing I'm a firm believer what comes around goes around.  I've been busy here regardless, so I know it will all work out. 

Anyway, do the work and start right here is my best advice.  Good luck! 

Feb 20, 2008 10:29 AM
Kimberly Dotseth
Blend Real Estate, broker/owner - San Diego, CA
Try Our "Cancel Anytime" Listing!
Susan, I just posted a very frustrating experience I am having with ReoTrans.com and it's like working in the Twilight Zone!  Check out my post. My blog is Green Box Homes. If you can't find it, email me at info@greenboxhomes.comand I will get the link to that posting and forward it to you. I can't believe they are that busy to be in the meltdown that they appear to be in. BPO mill, anyone?!  Because that's what it feels like to me.
Mar 09, 2008 05:53 AM
Sue Paige
ERA Today Realty, Windham, ME 04062 - Windham, ME

I have been waiting on word for repairs and getting the listing on a reo home and now we don't even get a reply from our emails. But don't be late with their requested paperwork.

Sue from Maine
ERA Today Realty
Naples, Me.

Mar 15, 2008 04:11 AM
Julie A. Black
KAUAI DREAMS REALTY Kauai Real Property Specialist - Kapaa, HI
CLHMS, CRS, GRI, Realtor, Broker

I know this is a late response but it might help. The BPO forms do not work well with Apple's Safari browser. I was unable to save info upload into a BPO using my Safari Browser, I now use IE for all REOTrans work.

Dec 02, 2008 11:30 AM
Phil Hanner
Keller Williams - Daytona Beach, FL
Phil at http://www.findahomeinportorange.com/

Susan,

I have had problems in the past too. Some of it was becasue I was using a new operating system at that time.

Lately it has been working well. The help section often has good tips on getting things to work. Remember it is the people you deal with that are important, not the technology. Call or email the asset manager.  Sometimes they can refer you to technical support to work out your problems.  Once you get to know the asset managers, and they know you, things will start working more smoothly.

Last month 10,573 new listings were assigned via reotrans. I am in reotrans every day and lately I have had no problems. I am in negotiation and got a reply in less than 5 minutes today - uploaded a bpo yesterday with no problem - I suggest you always save a hard copy just in case.

My 2 cents

 

Phil

Dec 03, 2008 07:19 AM