Asset management companies are losing revenue and trying to make it up on the agents.

RES.NET and all of the other asset management companies are losing revenue as the market shifts from REO to short sales. So what do they do? They start charging the agents for bogus and unnecessary things like mandatory software $200, mandatory classes $399,upgraded platform $700 per year.This is all a bunch of BS.
I paid RES.NET $650 for a banner ad on their asset manager site. I do not have 1 listing to show for my $650.
The management companies treat us like a bunch of whores to see who will do their dirt work the cheapest.
It is much more profitable to work with buyers and get a 3-4% commission and not have to drive hundreds of miles a day to baby sit over -priced homes that will be sent to auction and you then get a 1% commission.

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Comments

Rick Sayers September 28, 2010 at 1:27am

I was the fool.RESNET got my money. Luckily it was not my last dime.FNMA is switching to Equator from RESNET so RESNET is looking to make up for the lost revenue. DO NOT, I repeat DO NOT spend a penny on RESNET banner ads!!
Lisa Compean September 27, 2010 at 2:43pm

Sad part is someone is putting their last dimes into hoping it pays off...
Steve Adkins September 18, 2010 at 10:45am

As long as agents are willing to throw their money away at these companies, they will continue to charge these fees. ONLY when agents stop paying them will they change their ways. An old saying comes to mind, "a fool and their money are soon parted".
Cindy Billman, SRES ®, SFR®, CDPE September 17, 2010 at 2:36pm

Rick - I couldn't agree more - well said!

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