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?
You need to be a member of REO Pro Network to add comments!
I've completed APROX 12 bpo's in the past several years. I was told if I completed (8) I would get additional Listings. I have paid and have been a member for the Past several years and
have not received a Listing for the past (4) years. they continue to send me bpo assignments but have better things that pay off.
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!
Lillian P. White's Discussions
Lillian P. White's Discussions | A free & open professional social network for real estate professionals who specialize in REO and BPO's
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!
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!
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 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.
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.
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.
Replies
Congrats... A real good company to work with, and selective as well.
I've completed APROX 12 bpo's in the past several years. I was told if I completed (8) I would get additional Listings. I have paid and have been a member for the Past several years and
have not received a Listing for the past (4) years. they continue to send me bpo assignments but have better things that pay off.
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!
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.
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.
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.