What's your experience been with REOtrans.com?

I have used them in the past, and get my investment back (monthly charges) with a little profit. The downside is that you will be competing with other agents for bpo's. They send broadcast e-mail to all agents in the area for bpo's.  Set up text messaging with them if you want to get any business from REOtrans.

Good Luck

I was signed up with REO Trans.  I didn't find it did anything especially exciting for me.  I recently cancelled my coverage areas and am not going to do any more BPO's in areas where there are charges.

REOTrans is more of a platform used by banks to find listing agents and manage transactions. The "find BPO" function is a waste of time. Hundreds of hungry agents refreshing the screen every couple of minutes in hopes a paying order will appear.

But at the price (ninety cents per zip code per month?) it's pretty cheap.

I have yet to get anything from REOtrans.  let me know how it works for you.

I am sure there will be more listings that will come up in 2009. Good luck.

I have found REOTRANS to be one of the best sites out there for managing REO's when you are assigned one, i have been on it for over a year with no success in BPO's.

I subscribe to a dozen or so Zip Codes. At that rate it isn't much of an expense, but my primary market area is closer to 50 Zip Codes, which would be more of a gamble than I care to take.  Over 6-8 months I have not had any contact or action.

Has anyone actually gotten a REO listing from them?

Thanks for posting this question, I've enjoyed reading the responses.

REOtrans is not a good platform for BPO's but makes the REO process really structured and a litte easier.

Andrew,

Have you ever gotten REO listing assingments through RealTrans?

Or, have you only used it for management of REO assignments?

Matt in Albuquerque

I have been subscribed to REOtrans for about a year and have been assigned 3 REO listings in my 6 coverage zip codes.

I haven't actually been hired to do any BPO's through the site but have received calls directly from BPO companies who have found my information there.

One of my favorite things about REOtrans is that I can market all my bank ownedproperties on the site and they have the best REO Management system to work with.

I would recommend REOTrans to any agent interested in working with REO propertiesand earning extra through BPO income.

I've done a few BPOs with them in the past.  The orders seem to be slow in coming and then you have to be quick to get them accepted before all the other agents jump on them.  The price is pretty inexpensive though.

Matt, I have over 100 listings on Reotrans, love the system and its workflow.

Just curious, do they want a referral fee if you actually get a listing?

I have not had any listings come directly from REOtrans but many banks want to see you signed up on there. We do work with Countrywide and they use REOtrans as a transaction managment software. We communicate through that system on all our Countrywide REO transactions. It's a great system!

I stopped by to see the commens and glad I did I have heard good things about them and here it appears that there are mixed reviews.

Chris Oliver,

yes they do, but not much

@Kyle,

I agreed with you that the sight work well between Agents and Asset Managers. Side from that, I did not receive any listing from them in 2009. I have completed 3 BPO's for them so far. In my opinion, they're just like a broker like in the mortgage business.