Has anyone here coughed up the $250 and had any luck with this??
I signed up and paid the $250.00. I have not listed yet, but I do have 6 listings in my profile that I am checking occupancy on. One is vacant and I completed the BPO, but still have not received the listing agreement. I pray they do not transfer it over to some other agent!!!!
Reading all these neg comments, I am a bit worried, but will just keep on pushing and not let the neg thoughts take over!!
Well, Rosemary, I do hope you have the best of luck! I think I am going to give them a try after reading these responses.
Let me know how it goes!!! I am curious and hopeful you get all those listings!!
Lisa
I paid the $250 and have had 2 listings in about 9 months. My problem is the asset company that hired me. It is executive asset management. They haven't reimbursed me for over $1000 in bills that I had to pay to take care of the properties...things like rekeying, plumbers, trashouts, etc... I have bills outstanding since October. There are numerous companies under the res.net umbrella...including Ocwen.
Update- I got my first two listings from Res Net two weeks ago. They are nothing to brag about, but at least I "got my foot in the door". BTW, I think it took almost 6 months to get them and they were both re-assignments.
Fran- I'm sick of seeing out of area brokerages taking REO listings in our market, too. Most of them won't even put a sign in the yard. That's one of the reasons I signed up...
I have been doing several BPO's for a large asset management company. I have yet to get a listing from them. Today I asked them what I could do to be considered for a listing. They said one of their main bank customers makes them go through Resnet to list. She asked me if I was a member and I said no. She did say that you have to pay and she wasn't sure if that would be something I would want to do. I got the impression from her that if I was signed up on Resnet I might have a better chance at getting listings from them. I do think after reading the comments on this Blog I am going to hold off and keep working them for listings without signing up. I might consider it in the future. I am wondering if the asset management companies out their look to Resnet to find their agents to list? Many of the agents in our area that are REO agents really suck at it but they get the listings. It is really frustrating. If anyone has any suggestions on how to get that business please, I'm all ear.
I received an email from them today about listing a property in my area. For me to get that listing I would have to signup and pay the $250. Not sure if I really want to do that.
WOW, are you guys and girls serious? RES.NET is a portal that vendors, outsourcers and servicers use to help with there business. If you deal with certain banks/clients that use RES.NET you will need to be on the RES.NET system to get those listings. Simple as that. RES.NET is not some miracle system that gives you a ton of business for signing up? As for the lady's comments above, asset ,managers will select agents by there zip code. If a agent puts a zip code in there profile that is not close to there home the asset manager will not have access to that information. That falls on the agent not RES.NET.
Any serious REO agent needs to be on Res.net and REOtrans.com The nice thing about Res.net is that for $250 you get up to 100 zip codes at no additional charge. Res.net charges per zip code. I also suggest paying the $50 to get setup with FIS Invoice manager. You will have better luck securing new clients if you are already setup with these. Be sure to include zip codes in small unpopulated fringe areas or new zip codes that the competition may not have updated in their profiles yet.
I am a real estate Agent - I have 3 membeship to 3 REO companies - The all suck, I have had no listings, no BPOs ...nada ..
Here is the truth bout REO companies, They give all the BPOS and listings to their Friends and family and when there is some thing left over ... they may send you a bone ...
RES.Net Sucks - out of the 3 companies
People, you have to do your research before you just give up $250.00. Res.net is not a bpo or reo listing site. I called before paying the $250. I found out that it just puts listing agents in touch with the asset managers. The asset managers search the database, and choose agents from a list of all agents in that particular zip code.
My suggestion would be if you are already a member of RESNET to update your profile with more detail about you and your coverage area. The Asset Managers that decide which Realtor(s) to use has to sort thru a list of names and pictures of realtors that cover a particular area. Assuming the Asset Managers don't know what most of the accronyms mean, you have to stand out another way. That was my take as an Asset Manager. Her is another tid bit, if you do receive the 2nd bpo make sure to ask the AM for the next listing and or comment on your RES ID. the more positive feed back the better the grade, that is another way of deciphering which agent to select amongst many and believe me there are many.
Lonnell M.
Dallas/Ft. Worth
All I ever get from RESNET is emails say their doing maintenance on the website at certain times but that is it. NOTHING ELSE! I see absolutely no value in there $250 membership. DON'T WASTE YOUR MONEY.
ResNet is an interface tool for REO companies and real estate agents who handle REO listings. You get the foreclosure listing from a REO company such as Default Servicing Inc through ResNet. So to receive it and to handle the listing details, expenses, etc you must belong to ResNet. They will not originate the REO listing but the asset manager from the REO company will go there looking for agents who utilize ResNet and are familiar with it. They will then initiate the listing through ResNet. Our REO team has received dozens of listings through ResNet from REO Compoanies who went there looking for experienced REO agents. Go sign up with DSI, they use it extensively.
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