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I am getting my automatic renewel notice from RESNET telling my $700 annual fee is coming up and it will automatically be renewed. I do not remember doing anything with RESNET in the past year or longer and was just wondering if anyoe thinks it is worth the $700
There are 3 types of membership:
Free Membership: Gain access to submit offer, complete BPO's or add short sale
Pro $300.00: Allow you to manage transaction, receive offers, sign documents and create custom work flows
Pro Plus $700.00: Is required to receive or continue managing REO assignments from RES.NET Servicers and Asset Management. I received a promotio discount twice, these promotions are offer in low season.
I have had Resnet for about 5 years and it has paid off for me.
What companies even use RESNET anymore for REO's or BPO's
I use res.net a lot. CitiMortgage, CitiFanancial, Daakota Asset, Oylmpus Asset, USRES, Bayview and US Servicing are a few that I work with that uses them. Well worth the expense. I dropped Equator.
I can't speak for other Agents, but RES.NET more than pays for itself with me with the ProPlus. Yes, most of the companies I work with now I have had for several years, but all of them came from RES.NET and I do still pick up new clients with it. I referred another agent to RES.NET just recently and he actually picked up a $500,000 listing within 2 months. That is not the norm of course. Kind of wish I hadn't told him about it now. LOL
You should never have to pay for leads. I get those calls from companies like that and they always start out with we have a limited number of positions available in El Paso then they switch and start asking how many zip codes can you handle
I just let the service go after 13 years. Used it for REO's and BPO's and not getting anything for the past 13 months.
I have been with RESNET since they started, and have been doing REO's since 1980. I get my Specialized Asset Management listings thru them along with Old Republic and my HUD's thru LRES. Its also the short sale platform for Caliber homes which I get 4-5 a year from that so in my opinion its well worth the $700 per year.
My experience with ResNet has been poor. I recently moved to California, so I thought I would give them a try again (was disappointed in other years). I paid over $400 for one BPO request that I was too late to be assigned. I won't give them any more of my money unless I have a guarantee of being able to re-coup the expense..
I pay $700 per year and get 10 to 12 REO listings every year. I do not do the no charge BPOs unless I know I will get the listing.
It really just matters where you live. For me personally, the Nashville market is very strong and there are few REOs available. One of my asset managers with Vanderbilt Mortgage, who primarily do MFG loans, has only had 2 in the upper Middle Tennessee area in the last 6 months. That says a lot.
But some of my REO Realtor friends in the Memphis area still have a lot of inventory but still dropping in the overall numbers. I am not going to re-new this year. I only got 2 last year but nothing in the past 6 months.
I received 4 listings last year via res.net and I definitely think it is worth the fee. Good luck.