My real estate partner & I just got started with Indy Mac. We had to sign up with realtor.com enhanced listings,which so far, has not resulted in any benefits to us, and now they want us to sign up for these REO classes that add up to $800. Does anybody else who does REO properties for Indy Mac feel like they are asking too much? Right now, I just can't afford those classes and they said we won't get any more listings if we don't sign up to take the classes. Are other REO companies doing this?

I haven't been approved as an IndyMac vendor. I have signed up for the classes in the hopes it will improve my chances. Default School helped me become an approved REO agent with a PASREO 1 month after completing their course. I'm hoping it will have a similar effect with IndyMac.

IndyMac has accepted me as a listing broker and assigned a property to me. After they made the assignment I got the message about the Default School (still haven't seen anything about enhanced Realtor.com; unless it was burried in the same message and I read past it). It is my intention to continue with the assigned REO but will not spend time or money on Default School or enhanced Realtor.com; if they choose to reassign the listing fine, but I am not incurring that additional expense.

Several have commented that PAS is also requiring the Default School. Well they assigned me an REO after that announcement which I listed and then closed the sale with no questions asked about having completed Default School. Perhaps a record of experience suffices!

What can possibly be contained in these www.realestateeducate.com
classes that makes them so unique and worth anywhere close to the arbitrary high fees that they have assigned to them. Is this proprietary knowledge that can only be obtained through them ? I suspect not !

I suspect this is little more than just another channel for returning more of the real estate agent's income.

No; that can't be true . . . . can it ? I never heard of www.realestateeducate.com before this Summer. I might just be tempted to go to the WebSite and the "About Us" Page and read all about it. I do know that they have never offered any approved C.E. Courses in Vermont or New Hampshire.

I wonder "Who" owns them ? Anybody care to venture a guess ?

This must be some really fancy-schmancy education.

it is called investing in your craft, learning from a national/best practices perspective, and access to training for your support staff. i have taken 4 courses through default school. i have been selling REO's for 12 years and i learned some new techniques that will benefit me financially and will improve my performance.

if you can't invest in yourself then why would a client choose to entrust in your services? Just my 2 cents.

I guess the question comes down to how deep do you want to go with it?

There is some that all they will do and ever will do is REO even when the market shifts and listings dry up.

For me I have different irons in the fire.

It's not that I am not 100 percent competent with REO listings.It's just do I want to be only doing that and nothing else 10 years from now?Who knows??

I think everyone has to look at cost versus reward and make there personal choice.I wouldn't want to outlay thousands just to list IndyMac properties.

I paid for the those DARN classes and no business yet. I think is just another way to make money, but here we are!!!

Do you feel you received some valuable new "Training" that is general enough to enhance your knowledge for Clients other than IndyMac and PASREO ? Or just helpful in servicing "Their Accounts"? If it's the latter, then they should be provided "free of charge" but as a condition of taking on Assignments from them; not as a Profit Center.

If this training were comprehensive enough to be transferable to the management of all properties in default, then the Courses should be titled in a way to make them recognizable to others in the Industry.

I'm sometimes accused of having a bias towards education just for "Education's Sake" . . . . but I don't think this is it !

I'd rather take a short course in Quantum Physics. Might have more relevance to Real Estate.

Nope I didn't learn anything new! But, needless to say I learn the hard way and I become good at doing BPO's for entering to this forum. $498 is a lot a money for something you are know, but like the IMB VP said...it will put your name in front of others!!! Lets see what happens.

It's not like me to Rub Salt into a Wound; but how long ago did you Graduate from their Default School ?


What "List" was he referring to when he told you this ? I wonder if that VP is still receiving a Pay Check now that they have been seized.

I did check NetWorkSolutions and saw that www.realestateeducate.com is owned by a Firm in Tralee, County Kerry, Republic of Ireland.

Dale????

Where did you get your link from???

The correct link is:

http://www.defaultschool.com/

It's not just PAS or Indy that are requiring courses from this institution. You can take the core classes and those are applicable to all companies, then each company has it's own modules.

Setting the record straight!

Probably Brad Iverson at MGIC or Jerry Lashua at Corporate Valuations.

"Real Estate Educate" claims to have partnered with "Default Resources" in creating the entity you now know as "The Default School". They offer the same exact OnLine Courses for IndyMac and PASREO, it's just how you navigate to sign up for them.

If you go to their Site, www.realestateeducate.com I think you'll find many of the Course Titles are identical, including their Outlines. And it certainly looks like the prices match, right down to the penny.

Bummer. Well...if it were me and my money, I'd go with Default and leave Real Estate whatever in the dust. If it makes you feel any better, these courses do not meet any CE requirements in CA and the only classes available in CA are the REO classes. So...no doesn't satisfy any licensing requirements here or in your neck of the woods.