****ResNet Registration Inquiry

[John Taylor MBA,CSP,HRC]

I am in the process of registering for ResNet and I have some reservations about it. Can someone answer the following questions for me?

1. There are two fee to pay for enrolling, the first one is 250.00 for listing and the second one is for 450.00

AMP application. Which one should I register for and why?

2. Have you received any listing from the ResNet application, if so how many and from what lender?

3. Have you received any BPO work from this application, if so what company uses this the most

when sending BPO work to agents?

I really appreciate anyone being receptive to my questions.

Thank You

[Harry Schaedler]

BPO'S  done for usres are free they do not pay you . There spiel is  15 free bpos per listing. I would not suggest doing these at the moment I know of agents with over 40 bpos and no listings. As for res.net they kept sending me the info to upgrade to amp. Then they keep send banner ad  solicitations for their pages of REO agents  well of the 30 or so agents on the page I believe only six had had a listing with them  a few had over 20  most had 1 or 2 sure doesnt sound like good odds to me.  If I were you I would keep  your money.

[Sam Shueh]

I also recommend res.net that is the platform for many things. The BPO following a Listing myth may not be true as few receive that many BPOS. Most BPOs do not translate to a listing that hardly generates a reasonable compensation. The money these days is not getting REO properties. Rather $ can be earned to produce sale on REOs and it will make an agent appreciate valuation skills. Most home owners and some agents do not have a clue about valuation or even how to make $ adjustment leading to wrong prices.

The REO in SF Bay is really coming down. The amount of defaults is also tapering off. The so called hidden inventory can be liqudated in 5-6 weeks if all released. This is not stating we are out of the defaults any time soon

[Laura McDaniel]

I signed up for the free profile about two or maybe even three months ago and two days ago just got my first BPO assignment. I should say that I spent three months and signed up with over 60 companies and this is my first BPO. It took me some time to do the BPO and paid 75 dollars. I would love to get some more work. I am sure that they will get easier over time. After I submitted the BPO it went away and I don't have access to it any more so if you do get an assignment from them, you may want to print it before you submit since it disappears. Let me know if you have luck with any other companies. Hope this helps with resnet at least. you may get more if you pay but I just don't have money to invest in all of these companies on a chance. I signed up with realty Pilot since I saw that they would be assigning through there for REOpro. First month way free but I just got charged my first 39.99 and have not gotten an assignment yet. Good luck!

[Frank Popeleski]

I started out in the basic Res Net, then to the paid site, then to AMP. I was in the free portion until I got a call from Old Republic on a Land America listing I had that was being reassigned to them. I needed to be on Res Net so I paid the $250 and got on. After 5 Star last year I subscribed to AMP, and I cannot see life without at this point. Everything is in front of me!
I agree with Jose. I highly recommend RES NET. Start at the entry level, the paid level and see how it goes. Like Jesse points out RES NET is a PLATFORM and many servicers use it. In this market BPO's through Res Net are scarce. It may well be different in your setting. As for listings, that is entirely up to the companies that use the PLATFORM. Most have their own agents. If they are looking for new ones, they will most likely look at RES NET first since any agent they use will have to be on there. Good luck.

[John Taylor MBA,CSP,HRC]

Hi Jose,
Great response. I did not know a bout USRES. Can you provide me with the four companies you do business with that uses RESNET? You can send to my e-mail at [e-mail]. Thank You

[Jose Rivas (DGRA) CDPE, SFR]

Jesse is right, I think the best thing you should do is sign up with USRES, do soem free bpos, after 15 or so they will give you a REO listing that has to go on RES.NET.
I wouldn't just sign up with RES.NET and wait for assignments to come, it is just a platform not an Asset Company. I work with 4 companies that use the platform so for me is worth the investment.
If you want to signup because an application to an outsourcing company ask if you have RES.NET or Equator and you think that having it would give you a better chance to get listings then just go for the $250 one.

[Jesus (Jesse) Gonzalez]

Hi John,

1. Truthfully, I can't remember which fee I paid. I am RES.NET certified and completed the RES.NET Agent Certification back at the 5-Star conference in September 2009 so, I don't really remember what I paid.

2. RES.NET IS NOT ABLE TO GIVE YOU A LISTING. Let me be very clear, RES.NET doesn't hand out listings. RES.NET is the technology platform that Asset Management companies use to track their listings and thier progress. My point is, before you sign up for the platform, you should first find yourself an Asset Manager who uses it and is willing to give you a listing, otherwise, it's potentially a waste of your money.

3. Like listings, BPO's are handled similarly however, they aren't necessarily assigned as often as listings are. Sometimes, the BPOs are broadcasted and if you sign in quickly enough, you might get one. Just keep in mind, many people are using BPO automation software now that checks RES.NET automatically and grabs the assignment only seconds after they have been broadcasted so, unless you are using such a software....it could be a lost cause.

Regardless of how much you spend, it all boils down to one simple fact and that is, do you have a pre-existing relationship with a AM who is using RES.NET and wants you to use it so they can assign you work. If not......then, it's most likely not worth it to you.