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I was just approved with Old Republic Default Management Services (ORDMS) as a REO Listing Agent. In order to receive REO listings you have to sign up with Res.Net for an annual fee of $250. Has anyone had any positive/negative experiences with either Res.Net or Old Republic?

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Congrats Lillian,
We have sold lots of homes through Old Republic...they are mostly FNMA properties. Have been with Res.net for about 2 years. Most of our AM companies require us to be on Res.net since they use it for tasks and offers. What other companies do you work with?
I have been a member of Res.net for 2 yrs but never have received anything from them. I have also been doing BPOs for Old Republic for almost 4 years now and never have received a listing. My BPOs have always been submitted within a day of receiving only had one or two that they have called for clarification on value - when explained they accepted - so I can't understand why I don't get listings. I was told I had to submit an application to them which I requested, received, completed and sent 2 years ago still nothing other than BPO's. Now that I'm working with Titanium, I have just about quit doing BPO's or worrying about getting REO listings but would still like one or two once in a while anyway!!
Resnet is been good for me. Started receiving listings through them almost right away. Nothing from Old Republic though, and I've been with them for about 2 years, I've done quite a lot of bpos for them. I had never heard of the 10 bpos before reading it here. I guess one of this days I'll call them and see If I get anywhere with that. They do send a lot of interior bpos and they don't pay much, but hey if they are close enough to me I really don't mind. Specially lately that everything seems to be slower. I do recomend restnet!!
Hi Lillian,

I'm with RESNET and ORD, and yes it's all been positive. Keep them happy by finishing your task early, and go beyond the call of duty. They are a great company to work with.

Regards,
Rob Robertson
Weichert, Realtors - America First Team
Concord, CA.
Hi Lillian,

If you are approved for REO w/ORDMS, congratulations! They are great to do business with. .Join RES.NET pronto, it's an outstanding system. It's not just for expenses, it is an excellent task management system too. I would also "stongly" recommend getting RES.NET certified, it is very important! (nobody tells you that) You can do this through www.FiveStarInstitute.com or, if you are going to REOMAC/Hollywood (FL) in October, it will be offered there too. Worth far more than the $95.00.

Beside the quality of one's work (ratings/score) it always depends on where your area of service is and what the particlar outsourcer's assignments are for your area. Some agents get assignments immediately and in more competitive areas, agents may have to wait a very long time. Be patient, it will come.

Best of good fortune

Clay
We're having good success with Old Republic. They seem to rotate their Asset Managers on a frequent basis, which makes it difficult to build a relationship with them. But all in all, it's been a great experience. They're spooling up currently with new Fannie Mae guidelines and adding a lot of staff, which can cause a few ripples in their system. But they're clearly on their way to rocking out a lot of inventory!

Their BPO platform in Quandis is a good system. It's worthwhile to complete their BPOs, since that's also a way to get into their REO side as well.

Res.Net is the preferred system for a number of companies. Yes, there's a membership fee, but once you have accounts to work it all averages out.
Hi Lillian,

I started doing BPOs for Old Republic and got my first listing after about 30 BPOs. Now I have not had any more listings for over 2 months but the asset managers I have been talking to said they didn't have any right now in our area. I try not to let that response cause doubt. I have never had anything from res.net except using it with some of the REO companies.
Good Luck.
I would recommend Res.net. Citi, USRES, IAS, NRT, and Old Republic, all use this web portal.
RES.NET is required for Goodman Dean which I do a lot of work for. it is just a transaction management system. They claim AM's will find you there but so far that has not been my experience.
i am signed onto resnet on their free section..just got one bpo last week. waiting to see if it is worth paying. i have paid for Lamco, as I have been doing free occupancy checks for them, and they went into the pay for mode while I am waiting to see if I get the listing. I would hope paying to become one of their vendors will increase the odds of that!
I have done 10+ bpo's for Old Republic but understand you also need to take A-Pro Certification including Old Republic segment. I am completing the certification now. I also just upgraded to res.net professional. Hoping to see an uptick in business!

Lillian, I am currently Signed up with them and have been receiving BPO assignment. How many BPO's did you complete before they added you as a preferred Agent? Are there any additional steps I should take?.....I am just trying to figure out if it is worth to do the BPOs....dont want to feel like I am spinning my wheels!

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