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They go through res net in my area.
They typically go through Res Net...but my last assignment for them thhrough Res Net was cancelled because Bayview was taking back in house....don't know if thats new process. Bayview seems to have their own cadre of agents - different from Res Net...so I lost that listing
I have had several listings from them that all were assigned through Res.net. I am here to tell every agent/Broker to proceed with caution when you work with Bayview. They assigned me several listings that required me to prepare the properties for marketing prior to going on the market. As a result, I had to hire and supervise contractors, since I was assigned the listings this was the normal process in REO. I paid many of the contractors upfront because the contractors do not want to wait 3-4 weeks for payment. After being promised these listings and even signing Listing Agreements, Bayview started reassigning the properties (about 8) stating that they have implemented a new 8 mile rule. Even though I had signed Listing Agreements and prepared these properties to go on the market they were reassigned. It's funny that no one cared about the 8 mile rule when I was supervising and hiring contractors to prepare their properties for marketing. After being used a few more times and having properties reassigned, I emailed the Asset Manager and told her to reassign the rest of her listings since they were not honoring the listing agreements. To make a long story short I tied up my resources, staff and contractors preparing their properties to be placed on the market just to have them snatched and reassigned to other agents. In one instance, the Asset Manager had a nerve to call me and inform me that she needed to reassign some of my listings because they were more than 8 miles away. To add to this the Asset Manager asked if I could refer some other offices and Brokers to help her assign my listings to..smh! The last I checked I am building a REO business so that I can be profitable, not to help an Asset Manager find other Brokers to reassign my listings too after I have do all the upfront work. Bayview will assign listings based off any address you put in Res.net, even if it is not your office location. Many agents have figured this out so that they can work around the so-called 8 mile rule Bayview claims that is being implemented. So agents beware of Bayview and this 8 mile rule when accepting assignments. Even though they know that you are 15-30 miles away from the properties when they assign it to you, they will use you to do all the work for them and then they will reassign the Listing and claim you are not 8 miles from the property. In New Jersey, we have many rural areas and it is almost impossible to be within 8 miles of some of these listings. I remember HUD tried to implement a similar rule a few years ago and that went out the window. I refuse to accept anymore of Bayviews Listings.
Great info to know about, thank you.