Check out this group and add any companies that you feel have taken you for a ride.  I have read about so many companies that are not living up to their promise and all agents need to know about them.  Agents should be checking and researching on any company that we sign up with -- especially since we are putting our personal information out on these systems and there are more and more charging a fee. 

 

These fees add up.  They definitely should be bringing work in if you pay for them - hopefully get more back than what you put in -- but at least get your money back and not have fight for your money back.

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  • I work for pay! "I don't pay for work"!
  • I've got a question- I signed up a while back with REOPRO- what else do I need to do on this site to stand out a bit? Is there something else that I need to do?

     

    • This is not a site to get listings...... but chat away, learn, laff....and consider it a great source for new ideas, friends and guidance!!!!

      Warm regards  ,   Rose

  • AS LONGTERM REO BROKERS, BEING A MEMBER OF RESNET AND EQUATOR ARE NO BRAINERS.
    • Thanks JD - good to know we're on the right track. There are so many companies out there that is making it sound good, but.....
    • Agreed but agents shouldn't just think that because they signed up and paid for all the bells and whistles that listings will just come to them. It's my belief that if you want REO's stop spending all your time doing bpo's and go after them. Start building relationships and networking to get what you want. I should just keep my mouth shut and let those agents continue chasing them but it does get frustrating hearing all those complaints from agents that signed up for this and that and got no results. I bet if we do a survey of all the top REO brokers most of them don't pay much at all, if any, for all of those pay to play services and that most of them get their business from relationships. Bottom line is if you want listings GO OUT and get them because chances are real slim they'll come to you.
      • Good point, George. Thanks,
  • Hi Rosemary, For the sake of the readers this is where many people get confused, you are getting property assignments from your asset company that happen to use Equator as their Platform. The BPO’s that I get come direct from the asset companies that use Equator but the listings are managed through Equator, I would not get the listings at all if weren’t signed up with both. I can honestly say I think I have done less than 10 BPO’s from Equator, but I have had over 50 listings.


    I would think that your AMC is requiring you to manage their properties and task through Equator, it could have been Res.Net or Dispo or any of the other ones but they happen to use Equator. Chances are if you were not signed up with Equator you would not have the listings.


    This is just a part of the REO world and it's another system, look at it this way, as a regular real estate agent you can't access the MLS without being a member of your local board, as a regular agent you cannot list or sell real estate without a brokerage, (unless you are a brokerage and have a company) As an REO agent you must use whatever system the AMC requires you to use. Now to expand and diversify your business you go after multiple AMC's you could find yourself signed up with multiple platforms. All the high volume REO agents know this and are members of many Platforms and signed up with as many asset companies that they can. You want this problem.

    Now as far as the certifications with Equator, I don’t know if they help BUT! You have to realize that you are paying them money to market your name, profile and expertise. As you pay and certify for the higher levels your visibility gets better. I personally like Equator and get many assignments from them. I’m not real big but have managed to grow my business and closed over 100 REO properties in my 3 years of doing REO’s. Dispo solutions was my first Platform.

    Now…here is a lesson in humility at my expense, I logged on to my equator account just a few minutes ago and here’s the first thing I saw.

    Your coverage area advertisement has been viewed 648 times by Lenders since 08/11/2007.

    Now why would this matter? Because right now I get properties from approx 5 different asset companies through approx 8 asset managers, 648-8 means that 640 times I have been passed over! WHAT! WHY! Is it my profile? My experience? My certifications? They will never tell you why, they simply go to the person they feel is best for the job.

    The reason I put this out for all to see is simple, I do not think for one second that I have wasted my money, Why….because Equator got 648 people to look at my profile….they did what I paid them for….and threw in an operating system….now the rest is up to me, I ….and we, all have to figure out what we need to do to make us the obvious choice for an AM. Spend more time on our profile, update our certs and referrals, and sign up with the right AMC.

    Actually Rosemary, this probably needs to be a blog in itself and not even pertain to you personally but there are literally hundreds of agents out there that sign up with a platform and then just wait, then we read how discouraged they are and even though these blogs and forums are littered with these discussions they don’t take the next step or go to the next level.
    • I can only speak for me. I do not just sit and wait. I know better. But when I do not get action from a site or system-site, I do think about it and quiet frankly I question it and its value. I have way more views than your number but yet no listings. So yeah, they AMs must be looking for something --- and no one is sharing that. It feels more like right place, right time kind of thing. So I decrease my zipcodes, stay on the system and hang in there (or on there).

      Go to the next one and see if that one works for me. If not, go to the next. And so on.

      I am happy for you and your succes and glad to hear that someone is getting their money's worth. And I appreciate your comment.
  • Also, keep in mind that even so a BPO Mill or Asset management company advertises they are Nation wide, they may not have any clients that cover a certain area or State. What is working for some folks on the West Coast may not provide ANYTHING for us on the East Coast. There could be lots of reasons why someone is not getting any business from certain companies.
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