REOPro - Real Estate Default Professionals

America's Largest Social Network for Default Real Estate Professionals

First, let me say that I love this website and it has been a great place to share information with other realtors around the country.
Second, I know most of you are probably sick and tired of the greed that has been running rampant for several years in this industry. I believe in everyone making as much money as possible but I draw the line when the information is being sold that can be obtained for free. So here is my advise and warning.

DO NOT PAY for a list of REO companies, asset management companies and asset managers. Just Google the name REO management companies or REO BPO companies and you will pull dozens of companies with their links and it was free! I have noticed that some of these websites have outdated or erroneous information that is being packaged and sold to unsuspecting agents and some of the banks they have listed do not deal directly with realtors but through outsource companies. As far as obtaining a list of asset managers names, most of this information is also incorrect.

Anyway, for what it is worth, that is my pet peeve for the day!

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Comment by Cindy Billman, CDPE, SFR, HAFA on June 28, 2009 at 10:00am
I haven't but that would be great to know - I mentioned this at the REOMAC conference to the companies that were there but they just shrugged their shoulders except for Keystone who said they were considering a different avenue like contacting agents directly.
Comment by Noel Cash on June 27, 2009 at 11:05pm
Mark2Market told me they shut down accts using auto accept- has anyone else heard that?
Comment by Jesse Gibbs on June 27, 2009 at 9:23am
Great job!!!
Comment by Sueann Cutshaw on June 26, 2009 at 5:07pm
Hi Cindy,
It is nice to hear your comment. I almost paid for the list of REO, but I did not. Thanks
Comment by Cindy Billman, CDPE, SFR, HAFA on June 26, 2009 at 2:10pm
Great idea as I didn't realize that some companies purge that info that often - thanks for sharing!
Comment by Jesus (Jesse) Gonzalez on June 26, 2009 at 12:53pm
Cindy....I agree! That is why I offered our list for I try to keep it updated but, it gets more and more difficult with mergers, acquisitions and the like. In fact, I started auditing our list yesterday and just got done with the "A's" this morning. While I was doing that I also started re-signing up with them.

Just a word of advice to all of you. It's a really good idea and, i can't stress this enough, a really good idea to re-sign up with companies every 3 months if you haven't gotten any business from them. Most of them purge their systems on a revolving 3 months calendar. Just a little fact most people don't know.
Comment by Tim Ventura on June 26, 2009 at 12:20pm
Hi Cindy --

I think the greed's a bit like the "Mutually Assured Destruction" policies from the cold-war era: one segment of the industry oversteps with questionable practices, and then everybody else feels pressured to do the same or else face being pushed out of the marketplace.

My firm, the BPO Automation Group, got into BPO Order Auto-Acceptors a few months back precisely for this reason: many big BPO shops had in-house auto-accept scripts that were sucking up broadcast BPO's at ridiculously fast pace (15 seconds or less for a Mark 2 Market). So naturally our clients started pursuing us to compete, leaving my firm in the position of trying to find a competitive way to help our clients without adding more to the problem.


Tim Ventura

BPO Automation Group
telephone: (360) 223-2482
Comment by Arlene Garcia Hanner on June 26, 2009 at 11:51am
Hi Cindy!
I always appreciate your thoughtful advice!
Comment by Steele V. Propp on June 26, 2009 at 11:45am
Agreed (pun intended). These lists are outdated as soon as they are published. On top of that any promise of asset manager contact info is silly. This is an area of more change over than real estate.

Everyone and their mother is selling REO and shortsale info these days. And much of it is garbage or so elementary only the newbie will find it helpful. And not all that much.

Better to share info here.

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