America's Largest Social Network for Default Real Estate Professionals
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.
Replies are closed for this discussion.
I am just wondering what does Asset Management Provider consist of. Please explain. Do you plan to test it out locally first? Put the idea on a webinar after testing it - giving us the pros and cons with the lenders or mortgage holders. ... It is very interesting.
This sounds great! I'd be interested in knowing more about it as you move forward.
Well everyone, the doo doo has hit the fan and I seriously doubt REOPro is going to be able to make this happen. Unless someone steps up to the plate and is willing to partner with us, we won't be able to move forward. Sorry for getting everyone's hope up but, I really did think this was going to happen. At this point, I am going to close down the thread and if any of you come across some technology that could get this moving forward, send them my way.