NRBA is extremely exclusive, just a fair warning. They have an extensive application process and the wait time is about a year or longer.
Now, as far as what I have heard....nothing but good. I have heard people say that if you want to be a mega REO Agent, you have to be a member of this group. I know a couple of people who are members of NRBA and they rave about what a good decision is was for them.
So, go ahead and put in your application but, don't expect a quick response, it just doesn't happen. FYI: if you do have friends who are NRBA members and can endorse you, that will always help.
Any NRBA members out their want to endorse me.....I would be grateful, just shoot me a email...lol
I was a member back in 2000 and they charged $165/month for membership. At that time, they only allow a few agents in a given area. I was lucky that the agent in my area moved to Washington and I was next in line. They do have a large database of AM's and they hold a private party once or twice a year for the AM's. I did get a lot of BPO assignments from the contacts but I didn't stay with NRBA long enough to build my relationship with them and get REO listings. I do regret it looking back and should have stayed.
I have been a member for almost 10 years and it has been very good for me.They where the first to offer REO education benefits for their members and the annual conference every year in May is priceless.However it takes time to get in so hang in there.
One of the reasons I decided to associate with NRES, Inc. is because the owner is president of NRBA, Michael Krein. He gets a ton of listings and is the main player in the Las Vegas REO market. We also get a lot of business from sign calls and REO open houses. He has two offices that specialize in REO and will be opening up a third one before the end of the month. The NRBA office is right behind my office and once had the opportunity to talk to the gal who runs the office. There is a long waiting list and it's going to take a while, at least 1 year, before your application comes up for consideration. Not to mention a very thorough background check and feedback from the asset managers you take assignments from. However, if you get in you are going to be playing with the Tiger Woods and Michael Jordan's of REO! NRBA membership is definitely a must if you want to become a big player in the REO industry and want to take your business to the next level. You just have to ask yourself one question: Am I willing to make the sacrifice and pay the price?
If you get in don't make the mistake of losing your membership because it will probably be even harder to get back in!
I have been with the NRBA for 8 years now. Best move I ever made. Money will be well spent. The application process is long. But for a couple of good reasons. One, we get hundreds a month. Sometimes, after a major conference, like REOMAC, we can hit a thousand for that month!! Two, we just don't let anyone in, plain and simple. We want experienced Brokers/Agents who know what they are doing. So we truly investigate you. We all make very good money and we want to protect our reputation. As you can see from the others that have posted here, we have a very good one!
But don't loose hope. If you are good, and we are not saturated in that area, you should get in. Yes, referrals do work, but someone cannot just "let you in". If you don't hear from us in 6 months send an email. It can't hurt and good luck!