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Great advise by our In-house AM - Let's do this and see which companies pay the best and which ones don't - here's my list of good pays

EMortgageLogic
Equi-trax
Titanium Solutions
Franklin Credit
FASInc

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I have kicked them to the curb. I have a few outstanding bills with them. I also have one or two that were having some title issues, but I have cancelled the utility bills on them so I don't have to keep paying them and I am not going to actively go after them. They were an expensive exercise in futility for me and I have learned my lesson. if it is too good to be true, then it is.

Joan, my email is TWELCH001@columbus.rr.com if you want to directly email me.  I have some input about this company.

Ocwen/Altisource don't know what they're doing. They say they List with you and expect MLS service, but its an open listing as HUBZU also lists and markets (auctions) off the property.  This dual representation confuses buyers as to with whom to place an offer.  They do not return phone calls nor emails until they want their monthly status report.

     I won't take any of their listings anymore.  I think they are in violation of at least Vermont State Law regarding listing agreements.  Vermont State Law clearly states the listing agreement HAS to start with "Exclusive Right To Market Property" and their association with HUBZU negates that.

Before you sign up with Res.net you can log in for free and check out the listings in your area.  If they don't have any asset companies doing listings in your area then skip paying.  That is what I did.  I have decided not to pay any website to get business from it.  My experience is you don't get much business from places that charge you a fee.  Equator is free or a very low fee to advertise your zip codes.

Equator is a rip off!  Yes, their zip codes are cheap but you really get no exposure unless you are buying their platforms from $199 to $499.  They offer up to 8 courses with all basically the same learning experiences.  The only difference is the banner/certification upload and exposure preference on the platform you choose to pay.  You can not upload any other certifications you got from other sources (that's not good business).  Therefore, the more you pay the more exposure. If you use Equator, just use the free basic membership that allows the (1) free zip code.  If you don't see any listings coming through after a few months, then that is your answer to not waste your money.  Let them prove it to you first that you are being exposed with a guaranteed listing.

I carried about six additional zip codes from equator besides the one I got free. Never in probably four years did I get any kind of lead ofr a BPO or an REO listing. I played lets get a Platinum level which I did and guess what "STILL NOTHING". Now that expired and I am getting calls,emails about they will give me back that level for half the price of a regular years costs. I actually talked to a couple of guys from equator about this and asked them why would I spend the money and all they had was a mouth full of marbles and said they do not guarantee BPO's or REO listings but the exposure. So I said after four or years of exposure I have not been exposed to anyone ??!!   Really. Really frustrating and costly. I hve been ding BPO and REO work for 28 years and wow how different in 2014. I do not only mean the amount of properties just the attidtude,the grief we have to take,the lower pay and constantly having someone who has been alive as long as I have been doing these properties telling me I do not know how to do a report. Not only frustrating but costly

I will not buy Equator platforms because I know they are crooks like the rest of them.  Its too bad the banks do not see this game?  I once tried during a seminar a web seminar to ask BOFA the question if they assign to basic members on Equator and not only the platform members to see if they were getting exposure from basic members, but never got a response from the web caster person.  It may be because it was being hosted by Equator and they did not want that out subject out in the open for more discussion I'm thinking.

ResNet has raised their fees to redic amount. USRES takes major advantage of agents. You do free bpos (LOTS) in exchange for listings (maybe 1 per yr) On top of that there are sometimes fees (refers, ect) associated with those assigned list. We carry the electric, water, sewer, ect on these properties and its like pulling teeth trying to get reim for the money we are out carrying their utilities. USRES contact (Beth in my case) is very RUDE. I stopped dealing with USRES. Last I heard they are having a hard time finding agents in my area to work with them. When I told them I would no longer work for them they acted as if they were shocked and could not understand why.. UGH DUH I had them put pencil paper and then ask them if they would work to be in the red for me? NO? WELL WHY ON EARTH NOT? 

You mean Beth Chelson? Yes, very much so...... The commissions are absolutely horrible.

Yes Beth Chelson. That would be the one. Very RUDE. She does NOT respect agents AT ALL. 

she sort of barks at you.... no manners. so many of them are that way.

I actually have a listing right now that can't be sold because the wiring got pulled out through vandal.   Now it has to be listed for a crappy low price and I won't make even a couple hundred when all said and done if it sales after paying their referral fee, split with another agent and my broker fee and their E&O fees.  At this point, I don't care if it sales, I don't waste my time going and checking up on it as much as I use to and prefer to let it go to auction.  If they would have done what I advise them to do and that was instead of lowering the price ($50K), keep the price as it was originally listed and then offer credit to replace the panel/wiring which would have only been 1/4 of the reduction price ($12K) at closing I most likely would have sold it.  All the buyer wants to know is that there are no electrical issues all else could be fixed/upgraded at the investor expense after closing.  I explained to them that electrical issues is like a ghost that will continue to haunt sellers and buyers will run from such listings.  Why do they even hire agents if they don't go with an agents advise and knowledge of the area?  Regardless if the home is an  REO, previously a reverse mortgage or short sale, the fact remains in either transaction they still lose money trying to keep them on the market and just continue reducing the price, just a waste of everyones time.  Go figure?

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