REOPro - Real Estate Default Professionals

America's Largest Social Network for Default Real Estate Professionals

Trying to register on their site, but right off the bat there is the visa sign.  Are they one in which you have to pay to play?  If so, is this a good idea?  Here is the page I am on in case anyone is wanting to know.

https://ava.altisource.com/webtop/registration/default.asp

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As far as I know---- they have their own real estate company as of 2 yrs ago..... I'm not even sure if they give BPO's from their own site anymore, I think its farmed out to several other middle men......

I don't think signing up w/ them will be of any value anymore..... am not positive because I never did much w/ Ocwen....... but , its what Ive heard.

Hope this helps

Tara,

 

From their website: "Single-User License - $50 per year, for one user (temporarily waived)". I don't pay a fee at all.

 

As Rose mentioned, they have their own brokerage in most states and only use their own agents. You may want to check to see if that's the case in your area. Their BPOs pay $40, plus they charge you $1 for direct deposit.

I am on my fourth REO right now, and I do a nice stream of BPOs every month but I still have some daylight to burn......gotta keep trying!  Thanks Julio for all your help!
they only pay 1% for listing side on reo's, $40 for driveby bpo's, $60-$65 for interior cma's. then, to be able to use their website they charge you $1 for each $40 bpo, $2 for interiors,and they also take money out from the repairs/expenses when you submit for reimbursement.  1% is a slap in the face, and the fees! it is sooo much work that 1% is not even close to worth the trouble. every time you call, you are talking with someone not in this country. i no longer list properties for OCWEN/Altisource and i do not recommend any others to do so also. all payments are made via electronic deposit to your account so you have to give them all your info.  hope this helps

I do BPOs with them and it is crazy. I didn't even think they had listings anymore. All their listings in my area are with the same brokerage. I think they just have one designated brokerage in each area if they aren't using their own brokerage.

 

-DB

I've been working with this company for a while now with 7 or 8 active listings.  I can tell you it is more than the average work load.  As Brian said, the pay is peanuts compared with the amount of work you have to do.  Then they nickle and dime everything to death.  When there is an issue, it's like pulling teeth to get an answer.  If you actually get to speak a live person, good luck understanding them as their english is broken at best.  Communicate by email, but only one question at a time or it will just be ignored. The lack of communication is so frustrating.  If every deal in real estate was conducted like this, I would be changing careers. 

 

They have their own preservation department which is also very frustrating.  They change locks and install those crappy electronic locks that may or may not work.  They don't address access issues for detached garages and are surprised that a buyer would actually want to see the inside before they buy it. You need to get approval to have the locks changed in order for the buyer to view.  This in itself can take days.  No bills can be paid on the HUD and must be submitted through real remit, and then they take piece of that as well.  i.e. the bill is $50 and they pay $48.35.  at this point what do you do? nickle and dime.  If you try to add their fees to the bill, it'll be kicked back due to inaccuracy on the invoice. 

 

Buyer's agents must submit offers via their web site like a reverse auction.  The concept is there but ineffective at best. Generally the buyer's agent doesn't understand the process and comes to the lister anyway which creates more work and head aches all around.  The thing is the lister splits commission with umpteen people, hence the 1%, where are the umpteen people, who knows but they got it made, that is easy money.

 

We are not an escrow state, we are table funded here and they do not want to deal with that or simply don't understand it.  They want to do escrow close so that they can charge and nickle and dime the buyer as well. RESPA rules come into play now. Their addendum says the buyer must use their title services and closing services or in the event that the buyer chooses their own title/closer, then the seller will not pay for the owner's title insurance?  Again a RESPA thing as this was not included in the GFE.

I have been trying to close the first deal for 2 weeks now, out of contract about 4 times already.  Extension after extension, a pissed off buyer, a pissed of lender and a pissed off agent and still no guarantee that the deal will be closed. The last extension I sent over yesterday was questioned by the asset manager as to why we needed it.  .....shaking my head now (again)  I still don't have it yet, technically out of contract as we speak.

 

I hope this deal is the exception rather than the rule.  I am not in business to make excuses for this entity over and over and over again.  The general public and my colleagues expect more from me as a professional.  I don't need to wreck my reputation due to some conglomerate nickle and diming every single deal to death, thats just greed and it's sour.

 

Keeping my fingers crossed, hope we close the deal and the buyer doesn't walk at this point. 

 

Depending how this goes or doesn't go will determine what I will do with these listings.........

 

 

 

 

Wow Kristine I can feel your frustration! It seems the past 2 years in REO everything just seems to be contracting. I have been selling real estate for 19 years and I have never been more frustrated then I am right now. The asset management companies Fannie hired to sell these properties are a complete joke. Fannie decides to fire all of them effective 12/31...So what do the asset companies do? Quit paying the agents on their reimbursements! I spend half of my days now just chasing money and having reimbursement submissions rejected for silly items just to buy them more time to avoid paying us.If I had a way out.....

I used to do BPO's for Ocwen in California. I am trying to get on in Alabama. But they have always been difficult to deal with. And they have their own set of REO listing agents in house. That is one closed venue. And if you speak with someone, in my experience, they are in India!

www.altisource.com   Their representatives have been very cooperative and attentive.  Try them.  Does anyone have the link to Landsafe.

I did call them before I sign up with them and they gave me a code to input so I didn't have to pay or put my credit card information. After that make sure they sign you up for their webinar training, so you can receive orders.

 

 

Don't bother with Altisource/Ocwen. You have been warned.
i just got an order out of the blue for a cma, stating that I am the assigned listing agent.  I have not even done a bpo for them in 2 years...just reading this thread, I guess I will turn it down!

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