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#45477 - 11/11/06 08:46 PM REOTRANS
CA_REO_QUEEN Offline
Member

Registered: 11/09/06
Posts: 23
Loc: California
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


Edited by Greg Phillips (11/08/07 08:18 PM)
_________________________
"Honesty & The Golden Rule are my Policies"

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#45478 - 11/12/06 11:46 AM Re: Is anyone signed up with REOTRANS.com
Gulf Winds Offline
REO Slave
Major Contributor

Registered: 02/04/06
Posts: 1715
Loc: USA
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.
_________________________
"There are people who make things happen, there are people who watch things happen, and there are people who wonder what happened. To be successful, you need to be a person who makes things happen.." - James Lovell- Astronaut

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#45479 - 11/12/06 06:16 PM Re: Is anyone signed up with REOTRANS.com
CA_REO_QUEEN Offline
Member

Registered: 11/09/06
Posts: 23
Loc: California
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?
_________________________
"Honesty & The Golden Rule are my Policies"

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#45480 - 11/12/06 08:19 PM Re: Is anyone signed up with REOTRANS.com
OH REO Offline
Veteran Member

Registered: 12/07/05
Posts: 672
Loc: Ohio
We're members of REOTrans and Res.net. Res.net has NOT been worth the money in my experience.

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#45481 - 11/12/06 09:30 PM Re: Is anyone signed up with REOTRANS.com
realtor1126 Offline
Member

Registered: 09/03/06
Posts: 324
Loc: Southeast Iowa
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.

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#45482 - 11/13/06 03:03 AM Re: Is anyone signed up with REOTRANS.com
CA_REO_QUEEN Offline
Member

Registered: 11/09/06
Posts: 23
Loc: California
Thanks for letting me know, that is very helpful before shelling out money for nothing.....
_________________________
"Honesty & The Golden Rule are my Policies"

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#45483 - 11/13/06 06:15 PM Re: Is anyone signed up with REOTRANS.com
DARG Offline
Member

Registered: 08/26/05
Posts: 178
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.

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#45484 - 11/13/06 06:21 PM Re: Is anyone signed up with REOTRANS.com
CA_REO_QUEEN Offline
Member

Registered: 11/09/06
Posts: 23
Loc: California
Darg: Is that in regards to reotrans? Or Resnet? Thanks, Cari
_________________________
"Honesty & The Golden Rule are my Policies"

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#45485 - 11/13/06 06:36 PM Re: Is anyone signed up with REOTRANS.com
DARG Offline
Member

Registered: 08/26/05
Posts: 178
REOTrans

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#45486 - 11/13/06 06:38 PM Re: Is anyone signed up with REOTRANS.com
CA_REO_QUEEN Offline
Member

Registered: 11/09/06
Posts: 23
Loc: California
thanks for the info.....do they charge your credit card on file??
_________________________
"Honesty & The Golden Rule are my Policies"

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#45487 - 11/16/06 12:13 AM Re: Is anyone signed up with REOTRANS.com
Repo Queen Offline
Junior Member

Registered: 07/15/06
Posts: 9
Loc: Southern Ohio
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.

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#45488 - 11/16/06 12:23 AM Re: Is anyone signed up with REOTRANS.com
Makin' Money Offline
Veteran Member

Registered: 04/01/06
Posts: 1280
Loc: Indiana
Quote:
Originally posted by DARG:
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.
Do they charge you that on every closing you have when using Real Trans or just the first one?

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#45489 - 11/16/06 04:24 AM Re: Is anyone signed up with REOTRANS.com
CA_REO_QUEEN Offline
Member

Registered: 11/09/06
Posts: 23
Loc: California
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 $$$.
_________________________
"Honesty & The Golden Rule are my Policies"

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#45490 - 11/16/06 09:02 AM Re: Is anyone signed up with REOTRANS.com
Retsof Yor Offline
Veteran Member

Registered: 12/03/05
Posts: 694
Loc: South Central Kansas
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.
_________________________
Roy J Foster, KS Lic #BR0039462
R J Foster & Assoc., LLC
Cert. A*REO Agent
Cert. FHA Inspector ID G551
Cert. FHA 203K Consultant ID D0631
Cert. FHA LBP Maintenance Supvr ID 7534
Cert. Vendor Resource Management REO Specialist
316-258-2670
http://www.investment-properties.org

"I am only as strong as the coffee I drink and the hairspray I use."

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#45491 - 11/16/06 09:50 AM Re: Is anyone signed up with REOTRANS.com
mmm3 Offline
Member

Registered: 12/15/05
Posts: 38
Loc: USA
Does anyone know which lenders use REOTrans?

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