I have taken both the required courses and am working on the IMB course. The REO course may be helpful for someone that has NEVER worked with a REO.

The Advanced Evaluations course has some useful information for me. The IMB course (so far) has been okay and is much better than listening to some dude in India explaining how their website works (I didn't learn a damn thing on that call!)

I'm just sitting around waiting to find out if they're going to take away the property I just completed CFK for them on this morning...
Judging from the mass emails that have been going back and forth over these courses during the last week, the other brokers in my area are not signing up either. Maybe they'll pick up newbies in the area who are willing to pay?
Does anyone know if there's any truth to what one of the emails said today about Mike Ferry agents?

CanDo I went to the Default School site and that one sent me to the Realestateeduacate site. As soon I signed up...monies were deducted from my bank before I closed my eyes. Like I said hoping that one day to receive a call.

Lor63---no, there's no truth to that. It was just a joke. Mike Ferry is one of those real estate "coaches" who advocates using realtor.com to get buyers and listings.

Question for ya'll - If the REO king in my area get's IndyMac listings, is it worth my while to take the classes to get approved so I can get listings? Do they spread them around? I don't want to waste $800 and then find out that the REO king is going to be getting them all.

Jbt,

If you havent signed up for the class, I think its too late because the letter stated that we had until Aug. 25 to enroll. Maybe that's changed, however, I am taking the classes, like I have said before, if it works great, if it dosen't then its a tax write off. I will tell you that the courses are very informational and since I have never had an REO listing, it's very eye opening.

SoCal - I got an email that they were extending the deadline until September 15th, so I am debating if I should just do it or not.

Sept 15 to take the classes, even if I'm not approved with Indymac?

Would that be ok?

I can see why people could be a little confused: The posted Toll Free Numbers for BOTH The Default School and Real Estate Educate are one and the SAME 1-866-790-8232 and so is the Customer Support Number 1-636-720-1480.

If they share a Phone, I suspect they know one another PRETTY WELL !

September 15th to signup and pay and November 25th to complete the courses by. I'm not approved either, but my application is pending. My email says if you take and complete the course and your application is pending, then it will be approved once the classes are complete.

What happens is if you are on the Default site and click state courses it kicks you over to the other site. If you stay on the respective sites the contact numbers and addresses are different. There was some discussion awhile back that Default and M2M were part and parcel the same....

It's a sham if you ask me just another revenue generator for the banks. Anyway to curb there losses on selling at our expense.

I make alot more on purhasing them than listing and selling them.

Well, regardless of whether you are thinking about signing up for this RDCPro™ Certification (REO Default Certified Professional Designation) through Default School or directly with the people who conduct the Online Classes - RealEstateEducate, I think it important for you to bear in mind that the Initial Certification is just the beginning of your relationship with "THEM".

This has been designed as a fairly sophisticated mechanism for separating you from your money. The RDCPro™ Certification must be renewed each year. To maintain your RDCPro™, you will be required to take a total of 9 hours of additional REO training and education annually. You must complete at least 6 hours of Core Credit Hours and 3 hours of Elective Courses. Of course, the only place you can take this additional required education is through "THEM".

A few Thousand Gullible Students X Several Thousand Dollars (over a couple years) = A few Million Buckaroos for "THEM". Hey, why not ?

The Cirricula has not yet been written, nor have the Fees been established for these additional Annual Required Courses; but based on the Fees for the INITIAL RDCPro™ Certification, It Won't Be Cheap. And of course, as a Monopoly, and now, with a "Captive Audience", what incentive will there be for "THEM" to make the Online Courses cheaper ? Not much.

Nine (9) Additional Credit Hours per year would actually be more than I am required to accumulate to maintain my Vermont Broker's License: 16 every two (2) Years. Pretty neat, Heh ?

I commend the complexity of this one. There are lots of other ForeClosure Training Schools and REO Certifications coming down the Pike; and they'll probably be structured just as elaborately, to make money for "THEM".

Well, just read the Fine Print. Forewarned is ForeArmed !

That's true Vermont, but everyone is charging REOTRANS, REONETWORK, REOSOURCE, RESNET etc.

We stand to pay for someone's Benz and some... that is for sure. Yes, they are extending the courses, I am chosing NOT!!!! no more money, I was feeling like a monkey. Someone who is a big REO king said something to a friend of mine, it was, " these arents are so pathetic - spending money, like this, U have never paid for sites and courses" That woke me up big-time. I know too many people who are approved and have not gotten listings, I don't want to "pay" to sit on the bench I can sit on anyway. I am finding chasing this REO Listings had been taking far too much of my time, now I have so much business, I can't believe I let all those months go by concentrating just on REO's. Look around and you are sure to find alot of other business, and guess what, I am not paying for any classes.

On the flip side, should you pay, we have it in writing that this magical computer program will now do the selection process. How about a class action suit once we see that the REO Kings are still getting all their listngs even after 50,000 agents paid them to sign up.... I think that woth Indymac's reputation, some judge may just be apt to award agents who take them out on a class action from false promises, and false advertising. Mark my word, check it out in about 3-4 months of charting it, who will really have the listings.