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I just got auto charged $700 for my RESNET pro plus account. I haven't not had property in RESNET for 2 years. I called in and said I just want to go with the basic. I was told that if you don't have PRO PLUS you cant manage assets. So
1. is this even true? So If you have the basic or standard a bank you do business with can't send you asset and you can't service it in RESNET without PRO plus?
2. Are any of you handling assets in RES.net
I've been signed up with basic Res.net for years. I've received BPO's and listings. On one listing, I found that the property had so many health code violations that Res.net was forced to take it off the market. That's been five years ago and the house is still vacant. None of the listings I received have been decent, even considering that they're foreclosures.
You may be referring to USRES. While related, they are not RESNET. RESNET is the system that many asset companies and lenders use to manage their REOs. RESNET does not assign anything. USRES has the junk REOs and the free Fifth Third BPOs - at least in my market in Akron Ohio.
I'm aware of what RES.net is and the difference between that and USRES. I have a couple of banks that use RES.net but haven't seen anything in over a year. My point was it seemed like you use to be able to handle assets with a basic account. but now they say you have to have the PRO account to actually be able to handle assets .
My reply was directed toward someone else's response. Sorry about that.
No problem. I need to just down size my account. But you know how this biz is. Don't want to miss a listing. Especially hear in Denver where there are almost none.
I can take that money go on a cruise to enjoy myself.
How many REOs are in your area? How many come through Resnet? What is the probability you will get a listing in 2018?
If I was just starting out, I'd sign up for the free membership, and seek to sign with the asset companies and lenders separately. They may just find you for an assignment and ask that you buy the membership. That's how it used to be. And that's what I'd do today. It pays off for me but I've been at this a looooong time.
Thanks CECE, I've been at it for 15 yrs. So yes I think it makes sense for me to drop my account to basic. used to manage several assets in RES.net the last year none. Thanks for your response.
I use res.net for 2 of my lenders. But if you don't have any assignments from your accts that use res.net, then don't pay till they offer you the listing- obviously I'm writing about banks you have a relationship with already- res.net does not assign, they are merely a platform...hope this helps!
Yea I have 2 also and Denver is really slow. I think I will drop it. I would just hate to not get a assignment because they check my account and I don't have access. I know RES.net does not pass out assignments. Thanks for your feed back Rose.
I dropped to basic and have not had any listing but my Rep is tring to get me back in here in Illinois seems like there is more coming but do not know when and yes its hard market is slow do not want to miss out last year did have some but after I did not renew it went slow so still thing about it
I used to have 5 assets at any given time from resnet. The last 9 months volume has dropped dramatically. I have only received 2 very low priced assignments in last 9 months. One from Specialized Loan Servicing and the other CIT Bank. Always ask if their is a discount code when making a purchase. They used to frequently offer discount to sell, but have not recently. Be sure to fill out all 200 zip codes if possible to increase chances of an assignment. The $700 price tag is hard to justify when you do not make at least that in a year.
What other asset companies have assigned assets recently using Resnet?