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#277428 - 02/23/09 01:09 AM how does FAREO assign their REOs?
jdharpe Offline
Member

Registered: 10/11/08
Posts: 257
Loc: Washington
i have been signed up with them for over a year, and nothing despite several calls, i call asset managers, their assistants, everyone, and everyone just says "make sure you are signed up with us, and we will send you some work" And i do Farvv bpos all the time, but i guess they are not related? Anyone have anything helpful on this? Can someone PM me if they dont want to post to everyone?

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#277433 - 02/23/09 02:10 AM Re: how does FAREO assign their REOs? [Re: jdharpe]
realtorca Offline
Member

Registered: 07/08/07
Posts: 107
They are not related. Sold 1 REO. Never done Farvv BPO.

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#277441 - 02/23/09 07:26 AM Re: how does FAREO assign their REOs? [Re: realtorca]
Doin' bpose Offline
Veteran Member

Registered: 01/26/09
Posts: 1195
Loc: Mother of Presidents
See, I do both and thought they were related. Now I am searching my mind for reasons why, other than name.
I think the logo is the same, some type of fowl. It could be like rrr and fairbanks (select portfolio), same but different.

To the originial poster it would probably be like the photo place or glasses place at walmart. Share alot of ties but seperate business entities. You wouldn't go to the photo place to discuss your stigmatism (unless it was so bad you walked into the wrong place).


Edited by Doin' bpose (02/23/09 07:31 AM)
_________________________
Real Estate Agent, Licensed in VA since 2000
BPOS since 2000
Pop since 2002
Licensed as Broker in 2006
REOs since 2007
Founding Member of Beta Pi Omega, Alpha Chapter



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#277444 - 02/23/09 08:13 AM Re: how does FAREO assign their REOs? [Re: Doin' bpose]
Illinois Agent Offline
Member

Registered: 01/29/08
Posts: 432
Loc: Illinois
I did 1 REO sold it fast and at asking price, never received another one. They come up all around me all the time and nothing. I was told the same thing " when we get one in your area we will send it your way" And the 2 divisions are seperate and doing something for one does NOT matter to the other.

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#277446 - 02/23/09 08:30 AM Re: how does FAREO assign their REOs? [Re: Illinois Agent]
seasaw Offline
Veteran Member

Registered: 10/14/06
Posts: 1396
I receive my assignments from them via res.net.

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#277447 - 02/23/09 08:45 AM Re: how does FAREO assign their REOs? [Re: seasaw]
jbt4re Offline

Veteran Member

Registered: 03/04/07
Posts: 1422
Loc: My Own Private Idaho
I receive my assignments through the other one. I think it is very random how they pick someone, mine was reassignment from the REO king in my area.
_________________________
______
Justine



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#277449 - 02/23/09 08:51 AM Re: how does FAREO assign their REOs? [Re: seasaw]
northtxbroker Offline
Major Contributor

Registered: 05/17/07
Posts: 1563
Loc: Texas
Originally Posted By: seasaw
I receive my assignments from them via res.net.


Really?!? I didn't know they were signed up through res.net. I get them directly through their portal, but they appear to be completely random.

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#277452 - 02/23/09 09:11 AM Re: how does FAREO assign their REOs? [Re: northtxbroker]
Doin' bpose Offline
Veteran Member

Registered: 01/26/09
Posts: 1195
Loc: Mother of Presidents
I just got my first one that way, through r.net
Ususally they come through r.trans or I just get a call straight from the AM. I can't figuer them out, but I love 'em and will take what I get however I get it.
_________________________
Real Estate Agent, Licensed in VA since 2000
BPOS since 2000
Pop since 2002
Licensed as Broker in 2006
REOs since 2007
Founding Member of Beta Pi Omega, Alpha Chapter



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#277457 - 02/23/09 09:31 AM Re: how does FAREO assign their REOs? [Re: Doin' bpose]
Midwest Rose Offline
Member

Registered: 09/11/07
Posts: 299
Loc: Midwest
I usually get a direct call -
_________________________
REALTORŪ, Broker/Salesperson Owner
23 years in Real Estate
4 years REO/BPO's

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#278313 - 02/26/09 07:37 PM Re: how does FAREO assign their REOs? [Re: Midwest Rose]
LaLa Offline
Junior Member

Registered: 01/29/09
Posts: 3
Loc: California
First American REO and FARVV are same parent company but First AmericanREO can give you REO listings and FARVV has told me that they are FOR NOW just BPO. First American conned me into signing up for special agent promotion which I believe was $400-$500.00 and they told me I would with this designation get at least one listing- well it has been 1.5 years and several phone calls still no listings from FirstAmerican REO

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#278318 - 02/26/09 07:56 PM Re: how does FAREO assign their REOs? [Re: LaLa]
Illinois Agent Offline
Member

Registered: 01/29/08
Posts: 432
Loc: Illinois
I never heard of them charging the agents.

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#278321 - 02/26/09 08:07 PM Re: how does FAREO assign their REOs? [Re: Illinois Agent]
Doin' bpose Offline
Veteran Member

Registered: 01/26/09
Posts: 1195
Loc: Mother of Presidents
I think they have different arms reaching out. Most times I get calls on my cell from them. Every once and a while they call my house. I don't care, but it's like dude, why call me at home when you have my cell #.

Recently, they sent me a CFK bump check for $100 for getting the occupant out. They over nighted it to an address I lived at 3 years ago. It happens to be a neighbor, so I got it. The envelop said evictions department all over it. I think my neighbor is worried about me now losing my house.

I think you ought to ferret that one out LaLa, it might be that you are talking to the wrong arm.
_________________________
Real Estate Agent, Licensed in VA since 2000
BPOS since 2000
Pop since 2002
Licensed as Broker in 2006
REOs since 2007
Founding Member of Beta Pi Omega, Alpha Chapter



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#278359 - 02/27/09 07:07 AM Re: how does FAREO assign their REOs? [Re: Doin' bpose]
LaLa Offline
Junior Member

Registered: 01/29/09
Posts: 3
Loc: California
It was 1.5- 2 years back when you signed up on reosource for firstam. Their vendor managment person did not have a firstam email but an reosource phone # but yet you called the FirstAM phone number to speak with him. At that time they were using the REOSource for the platform of listing agents database. I called the phone number for Firstam after being registered for about 6 months and one of the customer service girls told me to get picked first for REO she could sign me up as a ELITE LISTING AGENT. I paid somewhere around $400.00-$500.00 and on REOSource had my name in bold and beside my name it said ELITE REO LISTING AGENT- that is all. No listings.

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#278360 - 02/27/09 07:15 AM Re: how does FAREO assign their REOs? [Re: LaLa]
Doin' bpose Offline
Veteran Member

Registered: 01/26/09
Posts: 1195
Loc: Mother of Presidents
I think that is the squeeze. REOsource probably got your dough. I hope you have someway to follow up on this to be made whole. If anything you might get them to extend your ELITE term since nothing developed from the first go. I don't know their connection with FAREO (ie. affiliates, partners)
Somewhat off point-I have a bunch of sold listings on REOsource that show as active and I can't get rid of them. I keep getting buyer calls. The only thing I can do is edit the comments to say off market, not avail.
_________________________
Real Estate Agent, Licensed in VA since 2000
BPOS since 2000
Pop since 2002
Licensed as Broker in 2006
REOs since 2007
Founding Member of Beta Pi Omega, Alpha Chapter



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#278375 - 02/27/09 09:17 AM Re: how does FAREO assign their REOs? [Re: Doin' bpose]
P-Town Offline
Member

Registered: 12/15/08
Posts: 115
Loc: Northern Ca
Doin bpose

I have had the same issue with sold listings still showing up on the website. I have had to call and tell them. After the call the sold listings were removed.

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