Hey all,

Just wondering if any of you REO PRO'S are signed up with REOTRANS.com. They charge to sign up for zip codes, but no referral fee is charged by them. It is like $13 a month to have a profile on there for 11 zip codes. When an AM assigns a listing they view the profiles through this company....I was wondering if it is worth it. I signed up last month because I could see a couple of local agents here have listings on there, so I know it works....I am new to REO's though, and have had my profile viewed about a dozen times since I joined, but no offers to list yet-it could be that they have been working with these other agents a while since they have been doing REO for years, but I figured that there may be a possiblility that some new companies to the site, might try me, or if a company has been unhappy with the other agents they might try me, what do you all think, has anyone had success with it, or has anyone felt scammed by them??? Let me know-thanks in advance-wow, I love this site and reading all the wonderful great insightful posts from all of you! It is so helpful.....glad I found ya! Cari

I signed up because it was a requirement of one of the banks that listed an REO property with me.
They (bank) use the notification system and upload/download capabilities.

Have you gotten any views or offers from other lenders yet? Also, does anyone pay for membership with res.net, it is a $225 annual fee to join, and I was wondering if it is worth it?

We're members of REOTrans and Res.net. Res.net has NOT been worth the money in my experience.

Like Gulf Winds, I too signed up because it was the site used by the asset management company. I don't pay them a fee. I also haven't had to use their site since that one listing. Cause>effect? I dunno.

Thanks for letting me know, that is very helpful before shelling out money for nothing.....

We're signed up and have two REO clients that use the site. When you close an REO, look for that $300 "Technology Fee" to be taken from your commission check. Pretty steep on a low commission.

Darg: Is that in regards to reotrans? Or Resnet? Thanks, Cari

REOTrans

thanks for the info.....do they charge your credit card on file??

I'm signed up with reotrans with only the one "free" zip code they allow. I have still been getting listings from surrounding zip codes, so I've opted not to pay for addiitonal zips.

Do they charge you that on every closing you have when using Real Trans or just the first one?

Thanks for all of the valuable info Darg, repo queen, and makin' money-you all are awesome! I guess I will unregister the other zips and save some $$$.

I was signed up on res.net for a fee due to bank client's requirement some four years ago. Other having some wannabees email or call with the *I saw your name on res.net routine* asking me to go to BFK for a $30 BPO, it has been less then effective. The client then wanted a referral fee and economically I couldn't move the ducky.

Hence REOTrans; a good system, low cost of $44 per month for my zip codes and I carry a dozen or more listings with three (3) lenders and no referral fees.

The ducky is quite happy.

Does anyone know which lenders use REOTrans?