I passed the Platinum one with REOTRANS, my profiles has been view 206 times..and now? Just wait??? Any advice....

Mike

Let us know how that works out for you - what was your reasoning for being Platinum certified - what do you expect - what did it cost - what promises were made to you?

Are you stealing my identity or do we share a common relative - Dad if you see this - you devil

I will.

Your profile has not been viewed 206 times. It's your coverage area.

Ohhhh

Kiss your money good bye!

I signed up with REOTRANS about two years ago with no certification and about $20 bucks worth of zip code coverage. I never received anything from them.

I decided to bite the bullet and pay for the Platinum certification.
I also greatly expanded my coverage area and am paying a little over $100 a month for that.

My attitude is I'll give it one year.

If I don't get any listings I'll resurrect this thread and let everyone know that it was a waste of my time and money.

Has this certification worked for anyone?

bratchny...I have done the same thing. The thing is, I am now working with the owner of my brokerage who cut her teeth by doing REOtrans bpo's. That's right, reotrans bpo's. I dropped my jaw but this woman is connected with the AM's now. She and 2 of her staff would sit on reotrans and catch them. Now she's a reo queen and teaching a certification class with ceu credit here in VA for REO and short sales. She's amazing. So, I got platinum certified and upped my zips and I'm thinking of getting another account for MD and a bunch of zips for that.

Soooooo..it can be done but it's work.

I've looked into Platinum certification. I will spring for the money when the time comes, but it has not come for me, yet. Obviously this thing is mostly BS because anyone can pay for it, regardless of experience. The AM's know that, they're not dumb. But there are some things that make it intriguing and a possible future play for me. Those things are the ability to place links to a brochure and a web site. I don't have either at this point, and so it would be throwing money down a rat hole to buy the certification right now. But my long term plan calls for both a brochure and a web site (REO oriented naturally), among other things. When those things are in place I will most certainly look into this more seriously.

bumping. Has anyone noticed an increase in business since paying for this certification?

Nope, zero, nada, zilch. Lots of looks on the site but no action at all.

Ditto

Well as for my input on this.... We and other companies use REOtrans to locate agents... Including certain listing companies I am aware of.

Just an FYI.

J~

MSVJ~

I am certified and a member of REOTrans and complete both at almost the same time. Since then, my volume has not increased at all. I realize that it is not on purpose, but my volume has dropped off drastically.

I should also mention that the areas they tend to use REOTrans for are the more rural areas.

Same thing with Reonetwork.com - mills troll these sites looking for agents to sign up in more rural areas. The bigger your coverage area, the more chances we will be recruiting you.

J~

wanted to resurrect this thread again. I have Gold certification for over 3 months and haven't seen any spike in activity. Anyone have any updates? I have been on reotrans for 2 years and only 4 BPO's. About to jump ship, but "hope" is keeping me going

I have a platinum cert. and have not seen one deal as a result. My profile has been viewed 109 times since 4/29/09. As I have a very solid background in REO and have not received any communications from at least one of these 109 indivisuals, I really have to wonder who is doing the viewing or if anyone really is viewing. I’m a bit skeptical and really wonder if this is just a scam to extract money from agents and also wonder if the viewing number is manufactured to make us think we are getting results.

Phoenix, I have a pretty good REO background as well covering Fannie mae to other banks so they'd be hiring someone who knows what their doing. I wouldn't go as far as saying its a scam... Their a legitimate company, but I can't put my finger on it. There just must be sooooo much competition for these listings and bpos.

Yeah I got the Plat Cert about a month ago. Same ol Same ol.

Guys, I've said it before--reotrans is just a platform. If you are not in the database of the company using reotrans, you will NOT get regular work. There is no reason to pay for "platinum certification" right now because it offers no benefits to the agent whatsoever. Who cares if you are listed higher if you can't get into the vendor database for the clients handling the properties?

I pay for 11 zip codes, I have no certification and have received about 75 listings YTD on REOTrans from 4 different Banks/AMC's. I got my first listing on REOTrans about 3.5 years ago from a company I got "in" with by completing BPO's from a completely different avenue. They called me to do a phone interview and then told me to sign up on REOTrans and they would send me the property. I have heard it happen in a similar way with other brokers as well, same with RES.net.
I think relying on REOTrans and RES.net is similar to roulette. There are just too many brokers on there. You're much better trying to direct prospect clients, or do excellent BPO's and if you get in with a company that uses one of those platforms then you will be able to get a rating on the system. There is no other way to stand out with no rating, regardless if you are Platinum.

I think you are correct. I live in an area where competition is fierce. There are about 15 top REO agents, you see their name everywhere. I was told by usres/resnet that I am top of the list for a listing but they don't have enough listings to go around.

Send me $4.20 and I'll make you a Titanium Member. Strong like bull. Make money order out to ReoTranny.

Can anybody help me with this?

How do you get a Fannie Mae vendor number?

We have had several FM listings through an asset manager but just got a new one through reo trans and they want a vendor number before we can accept the listing.

Anybody?

I believe you can check on a 1093 if you've submitted one before it should be on there. I dont have one at the moment unless someone else can chime in.

We got our first listing with them after paying $100 bucks monthly for over a year then got platinum certified about 6 months ago.

It is a junk listing but better than nothing.

I'm hearing that if you are Platinum certified, you get the short sale side they are rolling out for free

There may be some misconceptions about just what REOtrans is. It’s a transaction tracking program. Listing are assigned THROUGH REOtrans not BY REOtrans. The way one of my banks explained it is; An assignment comes in. They search their APPROVED vendors in that zip code through REOtrans. The site shows the distance to the subject, the agents performance rating, etc. They assign the asset and from there all actions/tasks are recorded through the site. In the event the AM needs to add an agent they first check for other APPROVED agents in that zip code. If that search fails, they’ll go to more distant APPROVED agents with a solid track record for the assignment. If that fails, they’ll look for recommendations from their existing APPROVED agents. Let’s suppose no one wants the listing; They than go to the unapproved list and search on performance, distance, etc. Platinum would be at the top of that zip code. Let’s suppose Platinium sold 5 in that zip and serves 1 bank. Now let’s suppose a non platinum sold 50 in that zip for 7 banks. Let’s further assume that they both have similar performance records. Which one would you choose? The experienced agent or the paid $400 agent.? Fannie Mae, Litton, Freddie Mac, Asset Link, and others spent heavy bucks developing transaction tracking web sites. REOtrans and Resnet supply a similar platform without the development costs. REOtrans can’t assign listings since it has no listings. It’s a portal to the bank, not a destination. If you’re hooked up with the bank you get the listings, if not you don’t. Regarding the short sales; I was advised today that this ame bank is rolling out a program using the same agent database. Platinum, paper or plastic is a waste of money. Not to burst any bubbles, but you perform your way into this business, you can't buy your way in.

After reading JackREO's post, I got thinking about the number of viewings on my account. I was under the impression, as many of you are, that the viewings occurred when AM's were looking for agents in our coverage areas to handle new listings. I went back and read what it says on my account and here it is: "You now show up in front of Lenders every time they assign a Listing Agent in any of your Coverage Areas". So, it appears that when AM's are searching their approved agents who operate in your coverage area, you get a hit. It doesn't mean that they are looking for a new agent and it doesn't mean that they have read your bio.

It looks I got sucked in by the Platinum ad stating “Get Certified so Lenders Choose You” line when that really isn’t what is happening here.

Can anyone help us out here with a fannie mae multiform BPO?

We cant order online and they are closed until tomorrow and we have until the end of today to get a BPO done for an assignemnt we got Friday.

Can I buy 1 form to get started?

This really sucks, now I hear they will mail the disk?

Realtors are really taking it in the shorts in this market, jeez.

In Kissimmee FL I to am a plat cert for one year now with REO exper and only have been looked at 35 times, with 5 zip codes. No bpo orders or listings I wont sign up again.

I'm platinum on REOTrans, too. I did not see any uptick in business. Before getting platinum certified I even expanded my zip code list to over 100 from 10. No uptick either.

It is really strange, we just paid $500 for the software then they had us use the REO Trans BPO form.

Anybody see the short sale button on res.net?

I saw it but nothing happened when I clicked on it.

typical short sale...

I tried an experiment last month...I clear all of my zip codes because I read on the forum that another REO specialist spoke to his/her asset manager about the zip code coverage or lack of it and the response given was it did not matter as they assign to the closest approved REO broker/agent.

Made sense to me...after many years of 50 zip codes, I cleared them and kept the free zip code for SOHO.

Yesterday, I receive a letter USPS from one of my clients, been working with them for six (6) years now, accounting department telling me to upload my W9 to the RT platform?!?

Well it seems that when you do not have ANY zip codes in addition to the FREE zip code...not only is your profile not shown but neither is your upload W9, E&O and RE license. I have determined RT will continue to look for more ways become a profit center and to squeeze as much out of us as they can possibility get away with. By the time the transacction fees are taken out at closing for use of the RT platform then adding in the monthly for zip codes I am spending well over $1.7k a year. I be darn if I am ponying up any yearly fees to show I am certified to use there system after six (6) years of use to line their pockets.

They are making RES.NET look pretty darn good to me and I use them for other clients.