HSBC, Wachovia, NCEN for me

I closed one from REOTrans, and there was no $300 fee taken from my commission on it. I only pay about $12 a month for a few zips, no referral fees from the listings I've received, either. If they ever hit me with a $300 fee, I'm outta there!

I recently attended the REOMAC meeting in Chicago and at the lender roundtable meetings alot of the Banks and assest companies stated they are selecting their Realtors off of the REOTrans site so I feel like it is worth it after hearing it straight from the the lenders direct. Louisiana

I have closed around 20 homes through reotrans.com and never had any fee charged from reotrans.com. The main bank is HSBC. I have also closed one for Nationstar (Centex) and had to pay their fee which was the transfer fee. I pay for zip codes and now see that my profile has been viewed 94 times in the last 2 years. I am also with res.net because of a listing but, have not received one since.

I have been signed up with REOTran for two months now and I just decided to post one of my REO listings on their site. Before I post any more I wanted to know if they charge any type of fee if you post a list and obtain a buyer through their site? Also has anyone recieved buyer leads this way?

I post all my REO on their site. Haven't received many buyer inquiries from them, though, but my profile has been viewed over 200 times in the past year, so I think the listings get lender attention. I don't remember in the terms of use anything about paying them if a buyer comes through them. i will have to re-read and make sure. I just discovered that my Wilshire listings DO have a $300 fee to come out of the commission, list-side.... I don't like that much, but I guess it's not as much as most referral fees I end up paying.

Yes. HSBC, Wachovia, Nationstar (fka Centex), Wilshire, New Century, Indy Mac & Single Source all use REO Trans. There could be more that we do not deal with.

They give you your home zip code for free, plus you can post a listing too, which I have done. I haven't subscribed with any add'l zips though.

Have you seen a growth in business subscribing to this site?

NO!

All I see is a growth in my emails from them,that they took the money out of my cc. Still waiting on something from their site. Been on for a yr now. Thanks God bless Kim

Stark,

Have you posted REO listings on their site?

I am about to sign up to receive additional zipcodes from REOtrans. My question are:
Am I an idiot for doing so? Are there a lot of people on here who use their services? Do you get a lot of BPO work or just listings here and there. I want it more for BPO work and the listings would be a bonus. Is it worth paying the extra fee which they claim will put you at the top of their list? Is there any way to view other agents in my area besides from looking at the listings and their listing agents? Any and all feedback would be greatly appreciated. Thanks for your time!

REOTrans will not get you BPO work. It's a transaction management system for REO, that makes your profile available to asset managers looking for agents to handle REO.

I have been signed up with ReoTrans for the past 3 months and have gotten NO results. According to them my profile has been viewed 96 times by asset managers.
I have noticed a few lenders will direct you to this site to receive REO listing from them.
So, does anyone have anything good or bad to say about this site/service?