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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!
Hi Nancy, 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.
I paid monthly for 4 months and quit…. I received over 30 REO notifications and didn't land a single listing out of it. I kept track who listed the properties after assignment and what banks they were. Most of them were Wells Fargo and Sky Hill, so if you're not in their network already there is zero chance to get a listing out of it.
I did a deal outside of the REO Elite program last summer- every communication was rude and condescending. It was on a $15k listing so I was looking for a $2500 min to mess with it- In the end they took a bigger cut than they agree to and finally stopped trying to resolve it.
I may not be totally accurate on this, but I think that the Altasource Co now owns Equator. a few years ago they cost me the full $2500 deductible on E/O because they assigned the wrong home to be listed and the home owner made suit. I was released but not before the attorney communication reached the $2500 deductible, and I don't know how much more.
I will never work with them again.
That is not how you receive REO assignments. What a waste of money!