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I was thinking about advertising in the DS News - REO Redbook which is $1,195 for a year. Does anyone have any feedback on this marketing tool? THANKS

Jeff Robinson

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Hi Jeff:

Let me share 4 tips with you to help you determine if advertising with anyone is worth it. Especially if you are going to spend that kind of money.

Tip # 1: If they have a public "Agent Directory", that typically means they don't have connections with banks and you are just on a mailing list they market on line. My understanding is that legitimate lead generation firms don't pulicize thier Realtor Directories because of the confidentiality agreements they have with thier banks.

Tip # 2: Contact thier current memberhsip or ask for referrals from thier customer service. I call agents across the country on these types of sites. If they don't have a public directory, I call customer service and ask for referrals. Most of the time, they can't give me a referral so I move on.

Tip # 3: Check the local BBB for a record of complaints. Corporate BBB complaints go to the local office where the HQ of the subject company is located. So, if you check your local BBB but the companies HQ is located in another city, you may not get a complete and accurate picture of thier BBB record.

Tip # 4: Always check with REOPro members, with almost 1000 members across the nation, someone may know something that can truly be helpful.
I think that it is a waste of money. I tried it for a couple of years and tracked my clients and none of them said that they found me there. Put your money in REOnetwork, as a premimum partner. For about the same price you will get a better rate of return. And I know many, many other REO Brokers around the country who would tell you the same thing!

Hope this helps. Regards, KIRB

Hello all,

 

My name is Ami Curtis and I am the Director of the FORCE - a division of Five Star Institute. I was hired by Five Star Institute/RedBook/DS News to take the Redbook to a whole new level and delivery. That is how the FORCE was born. My background entails 17 years of default servicing most recently 11 years with Wells Fargo - REO = Premiere Asset Services. For anyone who has worked with me in any facet will attest that I am an advocate who supports the agents and an avid voice in the industry that the agents are the lifeline of our business. Redbook is now my responsibility. I am committed to the agent community and will leave no stone unturned to support them. I am also actively reaching out to FORCE members to communicate all changes and actions we have taken on Redbook as well as hear from them what they would like to see. I felt it was necessary to speak here as this is far from a scam. I am dedicated to the default servicing community not only serving the agents but servicing as representation for all REO clients which include REO disposition services, outsourcing etc. This is far from an empty box of promises but a testament to make a difference

I saw their web site had an agent ad there. I called for a price only to find out that you had to buy into the RED BOOK itself, and could not buy into the web page for an ad. That turned me off to it.
I tried it last year and did not see one thing from it. They have been wanting me to resign but I am going to pass. I did not feel like it was worth the money to be in the little book.
OK, you guys just saved me 1195.

Thanks!
I'd just like to post a response to this thread. Although I know it's some time ago when this question was asked, but I just feel it's important for it to be addressed. Working for DS News, I know for fact that asset managers not only have used our REO Red Book as a source for agents and brokers to get their properties in the right hands, but they consistently go back to it as a resource. In fact, just recently an agent got two listings in a weeks time span. This book works, and works well.

What it does requires is some accountability on the agents behalf. No resource that you register to be a part of will automatically provide you with a bucket full of REO properties. You have to be consistently updating your profile, networking, and building relationships in order to get effective results.

There have been a lot of great additions to the usability of the REO Red Book, as well. Direct contact with the editor, updates on FaceBook, and with the all-new site rolling out -- it makes it even more of an efficient resource for asset managers. Do not let comments/opinions be the decision maker -- just give us a call, or visit us online and ask all the questions you have.

Thanks!
I tried it last year - no leads, no calls, no business - save your money - oh, and I was an asset manager and we used to get Red Book but we never selected any agents from this book. We already had our own database of agents that we used and if we needed to add an agent we simply googled the the zip code to find agents in that area!
Can I ask you a question, Cindy?

How long ago were you an asset manager? Just wondering if it was recently, or some time ago.

The goal of the REO Redbook is to create a new database of agents for asset managers to select from. It's imperitive to innovate from the 'buddy' system, where asset managers call on their close friends who are agents to sell the properties for them, rather than search for a top-quality agent that is listed elsewhere (or in our Redbook!). To use your statement above in an example -- we have worked to become the 'Google' feature for AM's so that they use us, instead of a search engine -- plus, we've added a slew of new features that will be further increasing the usability of our online feature. I really think you would appreciate it.

Hello all,

 

My name is Ami Curtis and I am the Director of the FORCE - a division of Five Star Institute. I was hired by Five Star Institute/RedBook/DS News to take the Redbook to a whole new level and delivery. That is how the FORCE was born. My background entails 17 years of default servicing most recently 11 years with Wells Fargo - REO = Premiere Asset Services. For anyone who has worked with me in any facet will attest that I am an advocate who supports the agents and an avid voice in the industry that the agents are the lifeline of our business. Redbook is now my responsibility. I am committed to the agent community and will leave no stone unturned to support them. I am also actively reaching out to FORCE members to communicate all changes and actions we have taken on Redbook as well as hear from them what they would like to see. I felt it was necessary to speak here as this is far from a scam. I am dedicated to the default servicing community not only serving the agents but servicing as representation for all REO clients which include REO disposition services, outsourcing etc. This is far from an empty box of promises but a testament to make a difference

I agree .do not waste your money
I too have paid to be listed in Red Book for three years with no results. Also, this issue has been brought up numerous times on several websites and I have yet to see anyone report new listings from their advertisement in the Red Book. Maybe Leon could let us know who that lucky agent was so we could confirm what he says.

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