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REOtrans, Res.net are these a good source of REO listings???

By Kelly Willey

Real Estate Agent with Long and Foster BEL AIR MARYLAND

September 02, 2008 10:50 AM

I have been working for about 8 months on trying to break into the REO market. Thus far, I have one bank that is actually giving me listings. I would love to hear from you your opinion on the services of Res.net and REOtrans.com if they will lead to REO listings or not. I had been doing all the BPO's I could with several companies but do not think that is going to produce any actual listings.

What is your experience with these sites?

Kelly Willey, SRES

Long and Foster

3004 Emmorton Rd

Abingdon, MD 21009

KellyW@LNF.com

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Kelly Willey

Coco Plum Real Estate, Kelly Willey, FLORIDA KEYS - Marathon, FL

Florida Keys Luxury Sales, Marathon, Key Colony

Lisa:

Thanks for the input, I have worked with Atlas REO and found them to be very professional.

Kelly

Oct 03, 2009 10:04 AM

Kelly Willey

Coco Plum Real Estate, Kelly Willey, FLORIDA KEYS - Marathon, FL

Florida Keys Luxury Sales, Marathon, Key Colony

Todd:

Hang in there and pick a site or two and stick with them. The longer history you have with a site the better your chances~~~Kelly

Oct 03, 2009 10:06 AM

Anonymous

Xin Chow

I have signed up with Reotrans.com for over 2 years, got nothing but 2 bpos. I advertise 1% commission, free lock replacement, free bpos, and more. I'm highly knowledgeable (trained loan processor), licensed general contractor and professional engr. But for the past 10 years full time real estate broker. Please let me know why I have not gotten any listing? help, I sell about 50 homes as buyer's agents and would love to transition full time to Listings. What is wrong??????????

Dec 10, 2009 04:58 PM

#32

Paul Durry

Collateral Specialist Inc - Lawton, OK

Former Broker Associate, CDPE, CIAS, CHMS

No to upset you but I did not sign up for their memberships, or take on any additional zip codes. However, the only time I pay is when I close a transaction (Bank of America) assignments.

Dec 28, 2009 09:50 AM

Paul Durry

Collateral Specialist Inc - Lawton, OK

Former Broker Associate, CDPE, CIAS, CHMS

This blog is intended for discussing the merits of REOtrans, and RES.net, not some off topic money making "venture".

Feb 05, 2010 01:09 AM

Kelly Willey

Coco Plum Real Estate, Kelly Willey, FLORIDA KEYS - Marathon, FL

Florida Keys Luxury Sales, Marathon, Key Colony

Paul: Thanks for coming to my defense!!!!

~~~Kelly in the KEYS~~~

Feb 05, 2010 10:08 AM

Kelly Willey

Coco Plum Real Estate, Kelly Willey, FLORIDA KEYS - Marathon, FL

Florida Keys Luxury Sales, Marathon, Key Colony

By way of an update~~~ in the past 3 months I have gotten 3 listings from REOtrans/Equator and nothing but a few BPO's from resnet.

How about you???

~~Kelly in the KEYS~~

Feb 05, 2010 10:09 AM

Paul Durry

Collateral Specialist Inc - Lawton, OK

Former Broker Associate, CDPE, CIAS, CHMS

No problem Kelly....I just ticks my off how some of these people think they can piggyback off some of these blogs.

I just got a listing via resnet on Wednesdaym after a long dry spell, and the listing with Equator have begone to pick up also.

Feb 05, 2010 10:26 AM

Kelly Willey

Coco Plum Real Estate, Kelly Willey, FLORIDA KEYS - Marathon, FL

Florida Keys Luxury Sales, Marathon, Key Colony

Paul:

CONGRATS!!!!! for th listing off Resnet, thats great to hear. Who is the lender on that one?

~~Kelly in the KEYS~~

Feb 05, 2010 10:29 AM

Paul Durry

Collateral Specialist Inc - Lawton, OK

Former Broker Associate, CDPE, CIAS, CHMS

The AM name is New Vista.. They in fact called me asking would I take a listing for them, and as it turns out they market through res.net.

Feb 05, 2010 10:34 AM

Paul Durry

Collateral Specialist Inc - Lawton, OK

Former Broker Associate, CDPE, CIAS, CHMS

Kelly here is their web address: www.newvistareo.com. I hope this helps!!!

Feb 05, 2010 10:38 AM

Kelly Willey

Coco Plum Real Estate, Kelly Willey, FLORIDA KEYS - Marathon, FL

Florida Keys Luxury Sales, Marathon, Key Colony

Great Paul...I've never heard of them, but GOOD FOR YOU~~~Kelly

Feb 05, 2010 10:38 AM

Kelly Willey

Coco Plum Real Estate, Kelly Willey, FLORIDA KEYS - Marathon, FL

Florida Keys Luxury Sales, Marathon, Key Colony

Paul:

I just went to their site, did you have to give them $195? If so did you sign up before or after they gave you the listing?

Kelly in the KEYS

Feb 05, 2010 10:44 AM

Paul Durry

Collateral Specialist Inc - Lawton, OK

Former Broker Associate, CDPE, CIAS, CHMS

This is the Asset Manager I am working with:

Cindi Wallace

New Vista Asset Manager

cynthia.wallace@newvistaetc.com

direct # (610) 595-3167

main# (610) 833-5263

800# 1 (866) 283-4002

And there is a guy there named Charles Higman charles.higman@newvistaetc.com, I do not any more of his information. But I was told he is the guy who hires!

Feb 05, 2010 10:50 AM

Paul Durry

Collateral Specialist Inc - Lawton, OK

Former Broker Associate, CDPE, CIAS, CHMS

No I did not have to pay the fee, when Cindi called me she said would get me in without having to pay!!!

Feb 05, 2010 11:01 AM

Anonymous

Richie

I like the synergy in the communications I am reading. It is people like this that set the high bar in the industry. Also, I am learning (and in support) that there is enough money to be made in this business and those that help others really stand out. You know who you are. Thank you all for meaningful discussion.

Feb 22, 2010 10:00 AM

#46

Anonymous

Tanika Brwon

Paul your comments have been so helpful. I have been trying to break into the REO business for a while! I am an agent, appraiser and have been doing bpo's with proteck for about 6 months. I live in the chicagoland area and have been looking for the companies that do alot of business in this area. Your advice has been priceless.

Aug 18, 2010 11:52 AM

#47

Paul Durry

Collateral Specialist Inc - Lawton, OK

Former Broker Associate, CDPE, CIAS, CHMS

Tanika,

You are very welcome. Within the REO sector sometimes you have to take the good with the bad. I had signed on with one company back in 2008, and had forgotten that I had. Well just about 2 weeks ago I get a call saying they wanted to assign 2 properties to me. Of course i agreed to that them on, but little did I know that when the listing agreement arrived for signature there was a referral agreement attached also. They were in actually getting paid twice for the same listing. They receive a fee from the bank and were also seeking a referral fee from me of 30% of the listing side.

Aug 19, 2010 03:11 AM

sosina (suzy) makbebe

keller williams realty westside - Los Angeles, CA

i just sign up with res.net i will keep you posted

Jan 05, 2012 05:44 PM

Anonymous

Yvette

Has anyone received listings from Equator?

Oct 19, 2012 09:15 AM

#50

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