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Has anyone worked with Specialized Asset Management? I received an order through RES.NET for a BPO and I think it is a company that assigns REO's, not just a mill. However, I can't find their website or much info about their company.

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I also have started to receive BPO's and hope it will turn into listings. In the meantime, they are paying for the BPO so I'm happy. Sometimes I get asked to to 'evaluations' and that means not getting paid so this is a good deal.
I agree that geting paid, even at "expenses" level helps. We all would rather do the BPO for free and have the listing assigned to us, but that is not always possible. Some companies play on the promise of the listing, IF they get the order to market the property. Even with a company I have previously handled listings for, I am worn thin on the "free BPOs". I did two freebies for them, and one turned into a short sale, and the other took a year before it was foreclosed and put on the market with another agent.
Matt I also have done the "free BPOs" for "them". I have received 2 REOs in a year, the most current sold for $39,000 @2% comission. ($550.00) This after I spent around $5000 making it ready( it all was repaid after a few weeks).
I don't want any more of those. :)

Are you sure you are not referring to another company with a similar name? I have 24 years RE experience and sold REO before the big fallout. I have listed REO property for Specialized Asset Management (SAMREO) for years and there is ALWAYS a minimum commission of $2,500 to be split between listing and selling agent. So that would have been $1,250. Why did you spend money to get it ready? They have a preservation company that does that. The only thing I have ever paid for was a re-key (reimbursed quickly) and possible an emergency repair such as a window boarding (also reimbursed quickly).

I read were bpo's are being assigned but has anyone been signed up as a Specialized asset management llc (sam) team of preferred brokers?
I am signed up but haven't gotten an assignment yet. With the smaller companies, sometimes there just isn't any properties in my areas.
www.samreo.net
create an account
make sure you have a res.net agent ID
Already done. But thank you.
Ryan, I do work for them all the time. They pay on time and I like their form. Their web is at https://www.samreo.net/default.aspx

They can assign listings but I have never received one.
they do assign listings. They typically have just one agent per area. I did a BPO for them, was promised the listing when it became available, and they gave it to their regular person.
I've gotten about 5-6 BPO's from them now - mostly exterior, just got my first interior. Haven't been paid on them yet but its only been about 2 weeks. Hoping some turn into REO's! For those of you who have gotten REO's - do the asset managers who assigned you the BPO's also end up being the same contact for your REO's? Just curious.
I've done a few but haven't gotten a listing from it yet. Some of the BPO's I'm doing for them I'm pretty sure are for people trying to get loan mods.

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