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REOPro is in talks with a national technology platform about possibly revolutionizing the REO industry by allowing our members to go out into their markets and solicit REO's from small to medium sized banks and servicers.
The idea behind this effort is to make the agent the AMC (Asset Management Company). We have found that many local, small or even regional servicers just simply don't have the technology, expertise, staff or funds to hire or create a true "REO Department" for themselves. Instead, they assign an unfortunate VP of the bank to handle the REOs on top of doing their regular job.
What REOPro would like to do is provide our members with a technology solution that would enable them to go into their local banks, credit unions and servicers and offer them a true AMP (Asset Management Provider) solution. In essecne, creating micro AMP's across the nation through REOPro.
Basically what we would do, is give you access to a technology platform that allows you to customize it's performance for a particular lender or servicer in your area. You then could work for them and become their own little AMP and help them avoid the cost of outsourcing. This way, you could go into Bank of Small Town USA, show them your incredible software, your incredible support, your incredible tracking, etc..... and win them over as their own little AMP.
Truth is, we may never be able to capture a Bank of America or Chase but, a larger underserved market is out there and that is the local banks and credit unions who would like to outsource to a credible, knowledgeable and experienced AMP but, can't afford the cost.......here is where REOPro could step in.
The only question is, will our members go out there, sell our services as a AMP and win business? Of course, you would be our exclusive agent for any business you bring in but, would you do it?
Let me know, love to hear your thoughts.
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Amen to that Jesse.
Take a look at RIOGenesis.com - great system, lots of kudos from my staff on this program!!
Ok....so, RIOGenesis.com....ungodly expensive, 99.95 a month....ouch! The other part I don't like is how they have segmented it all out. So...if you are a full serivce office and would like all six modules...it's $579.74 a month and it doesn't help me obtain business......lol, That is crazy, who would pay that? I also don't understand this whole REO Classic for $999.00 annually or the Office Complete for $499,95.....is that annual or monthly? Right now, the pricing seems ike a hot mess.
Taza Systems has an asset management solution called TazaVox.
Hi Crystal, I don't know much about Taza, is it any good?
1. Does it allow for customer customization on the fly?
2. How much does it cost?
It would help to be able to help bulk buyers manage disposition of their assets too.
Some of you have brought up that.....
1. TAZA REO and NRBA both have platforms for REO Disposition however, I have some quesitons....
1. How much are these platforms monthly?
2. Do the require annual membership on top of their monthly fees?
3. Are they customizable, do they allow you to walk into a bank or servicer and create a custom REO solution for that bank / servicer?
4. Can they hangle different types of transactions, traditional equity, short sales, REO, bulk, investment, etc.....?
5. What seems to be their biggest draw backs?
RIOGenesis (NRBA) has a monthly fee, you would have to go to their site - https://riogenesis.com/ - and preview what the costs are. I just do it and have never looked.
Yes, they are customizable within the system.
You need to check with them on how, what and creation time.
They can handle any type of transaction including BPO's, REO, Short Sales, Traditional, Commercial, Rental Properties, NPL purchases, bulk, etc.
Drawback - constant updating causing additional learning curve, but it's getting much better.
Yes! I;m ready.
I'm ready, Jesse!
I am very interested in your idea. The Southern California market is very hot right now. Anything that helps my business become more effective and potentially increase is appreciated. Please let me know once this becomes available.