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Has anyone signed up with Equator and their "REO Elite" Program. They boast that you will have direct contact with Asset Managers and request listings. The charge is $339 per year. One REO sale would likely make up for it and then some. I'm curious if anyone has had any success, or not with this. Any info would be greatly appreciated!
I actually had the same question. I talked to a representative from Equator and he made the program sound really good. The problem I had was when he said that only 7% of agents are signed up with the Elite program. If it is such a great program, why is there such a small number of agents involved in the program. I talked to a colleague who told me that he has been with Equator for 7 years and he still gets leads without the Elite program. I hope this helps:)
Yes, I signed up to be a pro in 2014 and receive approximately 6 REOs from the Equator platform each year. It helped me when I went to Texas and met the Equator Representative and he helped me to expand my zip code range. With his help, I was assigned 2 REOs the first week after I got back from the FiveStar conference.
I am actually considering signing up with the Elite Program also...so your question is right on target! Does anyone have any ideas on how to break into the REO market and have success. I have been doing BPO's for a couple of years but would like to move into getting REO listings..any help is appreciated...
I signed up. They do send you notices that you can sent to asset managers that you are interested. I reply when they are within 30 miles. No assignments yet. I've been with them for 3 to 4 months now. I previously paid for zip codes. I didn't get anything from that either.
Vicki, are you still receiving the REO Alert emails from Equator? Mine stopped in August last year. Linda
Louie, I took a chance and signed up about 6+ weeks ago. To date Ive gotten notice of well over 2 dozen potential REO's in my coverage area. To date, no replies or assignments. Thanks, Steve
Hi Steve, are you still receiving the REO Alert emails from Equator? I stopped receiving them in August of last year (2017) is why I am asking.
Like others here I have my doubts about the Equator Elite program. That is a small % who apply. Ms. Plam about breaking in - for me it was all LUCK. I to had a 100% BPO business at one time. I got a call one day from Land America (of happy memory) and they asked about doing an occupancy check. I did, got the listing, I was #4 on their list to call, the first 3 never returned her calls! I was mortified. That got me in and on my way. Rule #1 do not ask folks about Asset Manager contact info, no upstanding agent will give that out - we protect our AM sources. 2. DO get signed up on as many sites as you can - the AM will need to pull agents from the approved list, getting on the list is the key.
My TYPO Ms. Palm - a senior moment here.
No problem Frank!! I have them all time..lol Thanks for the advice