Looks like Ocwen is putting their own online auction together. The properties in my area are still listed, but I would be willing to bet the commission will go down again. They currently take one of the biggest cuts, but do throw in a $700 management fee. Wonder if the management fee is all they will offer in the future? Consider that for a minute – free CMA and monthly reports along with trash-out, re-key, etc. For a paycheck of $700! I think the pizza delivery folks do better than that. Hopefully they will leave the pay as is, but taking the negotiating out takes all the fun away – at least for me.

Below is the email I received – no doubt many of you have as well.

If you're a realtor or agent looking for the perfect place to purchase REO homes for sale for yourself or your clients, look no further than GoHoming.com (affiliated with Altisourcehomes).
New Time Limit Bidding in BETA
We're excited to introduce our new proprietary online Time Limit Bidding platform that buyers can use to purchase REO properties. With 2010 arriving, we have now launched the Time Limit Listing product in Beta! What does this mean? How is it different than before? A unique benefit to buyers is that they can see what other people are bidding for a property and what the highest bid is. That way, they know what the competition is and can feel confident that they're getting a fair market price. Bidding on properties is easy as 1-2-3. No more long negotiations on REO. The properties are "As Is" with price being bid upon. The realtor's commissions are not impacted - just sit back and wait until the end of the auction. The one with the highest bid is the winner. In order to win the Time Limit Listing, the winning bid must meet at least the reserve price set by the seller. There is even a "Buy Now" feature.
Are there any new fees? There are no fees to place a bid. The only new cost associated is a web transaction fee. This fee is paid by the BUYER at closing. The reason for this is to pay for the new marketing associated with the Time Limit Listing. Please visit the site and try out our new product today. We have lots of great new REO's listed every day!

There it is – Have a great day all!

Odd - NC has several listings but not near all the listings O is dealing with - I wonder what makes properties go to the website?