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Hello everyone,

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...???

 

Greatly appreciated,

 

Happy New Year to all

 

 

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USRES has been gettin free BPO's for years and agents keep falling into their trap.  When I asked their CEO if he works for free in another forum he would not respond.  Guess that answers my question.  Most never get even on listing from them and the ones that do have done way more than 5 BPO's. Ask your gas station owner if they will fill you up for free 5 times if you promise to buy gas from them for the next 6 months and see how far that gets you. CAMREO is a total rip off they will not even return a phone call or email message. 

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!

I " friendly"  fussed the whole time I did freebies and reminded them each one that I was waiting for that "listing". I was always told after 10 BPO's,not 5 and I did get a listing just a little while ago. Got experience with CFK's,rekeying,eviction,reports and procedures. The asset manager is wonderful (that means a lot) I guess maybe I look at things a bit differently because I saw agents in my office do whatever it took to try and get your foot in the door and now they are at the point where they can pick and choose,but they had to work at it. I want what they have and I will get it and learn in the process and that's OK with me. I also don't feel I'm selling myself short. I  have been referred to different companies for BPO's by other companys, I like when that happens, makes me feel like some day there will be rewards worth all my hard work now. I also try to make the "freebie" convenient,try to make it on my way doing 4 or 5 paying ones,their forms are easy and QC is not tough.....if you can hang in there it will pay off eventually just work it in with the paying ones. I tried not to turn any down,but I had too sometimes.

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  vendor.management@usres.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....

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I received listing from them after doing 3 free BPOs. I did about 12 more freebies, but no more listing. it was all good though since it was a good listing and I sold it quickly.

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.....

Thanks.

Jose,

 

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.

USRES, Have gotten about 4 listings from them after doing 1 or 2 freebies....in late 2008 to early 2009. Since then 4 or 5 freebies I have done and have turned BPO's  down since no new listings in over 6 months.

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.

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