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I'm in MA, I have registered with USRES and completed a few free BPO's for them, with the promise that after completing a minimum of 5 I would be considered for listing assignments. Has anyone passed that step yet? I don't mind doing some freebee's but I certainly don't want to continue working for free, if that is not a true statement.....
As to CAM, is anyone in a non-competing market who is willing to share some experience/info...???
Happy New Year to all
Thanks, C J, for your input. I take it you have crossed that path yourself or, perhaps, you do know of other agents who did.
Happy New Year!
Thanks, Judith, for sharing your experience with us.
I don't mind the hard work either, as long as I am walking on a legitimate path and there is light at the end of the tunnel.... Your comments are greatly appreciated.
USRES strives to be fair and consistent with the assignment of REO’s to our agent network. If you consider the market we are in today, there are many uncertainties. The fluctuation in the REO market over the past 3 years has been the reason for increases in property valuations, and slow down in listing assignments. During a foreclosure cycle in some states, the property can be valued 6 times before the property goes to sale. As well, during the foreclosure process, you might have several bankruptcies, or loss mitigation initiatives that delay or stop the process all together. With all things considered, 10 valuations might be done on a property prior to sale, and at the sale, it might be sold to a third party resulting in the property not going to an REO agent. There is not a magic number of BPO’s to complete before you will have an assignment. As soon as the first BPO is completed on behalf of the company, you become eligible for assignments in your coverage area. I hope this answers your concerns C J, and for any direct questions you would like answered feel free to email me at email@example.com .
GM, VP of Vendor Management
Garrett's response is consistent and should ring true to those of you who've been around a little while. I met Garrett at a conference a while back and he was answering this question the same way back then....
Oh, ok, good. I suppose it depends on a lot of variables, just like with many other AMC's, there is never a guarantee of one getting any work, you just have to be present to win....
I'm just trying to avoid (as we all should) traps and scams, that's why it is so important so share one's experiences.....
I know many agents who have received listings from USRES. My market is very competitive and it's very difficult to get in with them. I'm in their system, but have not completed any BPOs, eventhough I've asked. I hear the average BPO to listing ratio is 10-15 BPOs for every listing. It really depends on supply, time of market, etc. So, if you're patient, are willing to put in the time, and produce a great product, you will be rewarded. I hear they are very loyal, if you're good : )
As for CAMREO, I spent the money way back, and never received a thing. I thought that all of the listings on their website were their listings. I later found out that many were entered by the agents on their website, similar to how you can add them to Equator, Res.net and other platforms. In my opinion, save your money.
In 2008-2009 I did 20 free and was waiting for a listing. Newer got one. I did check on the 20 I did. Three were listed with other agents. I then stopped doing the BPO'S.
FYI, I'm in MA as well.