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Does Goodman Dean refer REO listings to you or are they just a 3rd party that works with BPO's? I have done approximately 40 BPO's for them with no REO assignments.

Just checking, I would rather focus on companies that can refer REO listings as that is ultimately what I am working towards.

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After doing 68 BPO's, I recieved a call from GD saying it was time to try me on an REO. It was a vacant townhouse that was a failed short sale at $195k. Besides my BPO of about $180k, they had an appraisal done saying the value was over $200k. It was listed at $200k. We went through adjustments and finally sold at $180500. I was told I would have an automatic reassignment if not sold within 90days, It was sold prior to that. So they tried to get maximum value, but were the ones to lower price when it didn't sell. Last week I received my second pre-marketing assignment. This is a builders home on 3 acres in an exclusive community. Appraised prior at $1.7M but a failed Short Sale at $949K. I should conclude my C4K by this weekend. and then proceed with the listing. They do allow a 2.5% commission each side, with a 15% referal fee to listing agent. Overall a very good experience. GD is my favorite BPO, and now REO as well!
Thanks Greg, I feel much better now. I was in the middle of working 3 BPO's for them when I wrote this and a little stressed because they were all very "challenging". It sounds like your wait is paying off! Good luck with the new listing, sounds like a winner!
Where are you located at Greg? I have been trying to get BPO's from them for over 5 months.
Thanks
Brad
2 thumbs up for Goodmand Dean on REO's...I love working with them. REO's are slow lately, but they will come in. Faithfully do their BPO's!
Hi Johnny, Yes, I see what you mean about REO's being slow now. I bet many banks have a Moratorium until after the holidays.
Goodman Dean is a great company to work with and yes, they do have REOs. They are a bit slow but, they do have them. Just keep doing those BPOs...which by the way, what about that new system they are using?

Anywho......patiences and tenacity, you'll get somewhere eventually.
Hi Jesse,

I agree, they have always been great to work with. I am feeling much better about it now knowing they do assign BPO's. Do you get the BPO's from just one bank? It seems like I am just getting them from one.
What's the new system? I was still using RES.net with them a month ago...
Hi Johnny,

They are now using www.irepvm.com for thier BPOs, I don't know if it will be the system they use for REOs.
Interesting, my last BPO was recently last week from them, still used the old system (their BPO portal). I haven't heard anything about the new system, maybe it's for different lenders? I'm going to have to find out more.
I don't think anything has changed with my set up. I still log onto GoodmanDean.com and sign into their BPO portal. I just did 3 BPO's this week.
Hi there,

I heard from another agent that they spoke to GD and were told that Irep had a bulk order of BPOs that they outsourced some of it to GD. I LOVE GD and hope they keep giving out some REOs because here in Cali they are listing some themselves. But, they are a good company.

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