REOPro - Real Estate Default Professionals

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Do some quick MLS research to find out what Altisource Homes is up to in your market as a listing brokerage. If you are an REO agent you might be surprised to find that Ocwen is listing properties with Altisource Homes offices that are not even in your state. Sure, sellers can list with anyone they want to but local agents should be aware of this growing trend. Why? you ask.

Well,

If you perform BPOs for Ocwen and Altisource you might just find your interior BPO pictures posted on someone else’s MLS listing. Think it can’t happen? I promise it can because it happened to me. When I called my local Altisource contact in New Delhi they assured me that I was mistaken and that it was impossible that Altisource Homes in Georgia (8 hours away) had received and used MY interior BPO photos in their MLS listing in my local market. They asked that I provide documentation and that the issue would be escalated.

I provided the documentation over 2 months ago and have not heard a peep from Altisource. I have stopped accepting work from Altisource and always refer to the fact that I am awaiting an explanation on this specific issue when I reject assignments.

Has anyone had similar experiences? I have had numerous conversations with REO listing agents about Ocwen at national conventions and decline to comment further about Ocwen.

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Comment by Yolonda Davis on April 4, 2011 at 11:01am

I'm in Ohio -  Altisource wants agents to list their properties in the MLS system and schedule showing for a 1% commission.   Has anyone else experienced this?

Comment by George Bellino on September 25, 2010 at 10:38pm
Gotcha. Thanks.
Comment by Robert NRBA Slick SC REO on September 24, 2010 at 9:51pm
George,
Altisource Homes in Georgia is licensed in SC and to join the board only takes $$. I belong to 2 different boards myself.
Comment by George Bellino on September 24, 2010 at 9:42pm
I would think to be able to put a property into an mls in a different state they would have to belong to that mls and that means they would also have to belong to a local board. Then how would they be able to do that if they are located in a different state? We list a property in a different state on occasions but we have to go through a local broker.
Comment by Steve Adkins on September 24, 2010 at 12:09pm
I've never done any work for Altisource but I have gotten into a habit of checking the photos of agents who may re-list an expired REO listing. I have caught 2 in the last month where the new agent used my photos in their new listing. Lucky for us, FMLS and GaMLS will take care of that quickly and removed the photos. It took the new agent 3 weeks to get new photos in both cases.

It's against our MLS rules to use someone else's photos, but I'm not sure how that applies to BPO work. It's cheap and lazy on the listing agents part, but does it violate any rules?

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