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#249865 - 09/15/08 02:56 PM Re: RRReview.com [Re: DeanaW]
jbt4re Offline
Veteran Member

Registered: 03/04/07
Posts: 1032
Loc: My Own Private Idaho
Oooops - posted response in wrong thread. I have never had an issue with RRR.


Edited by jbt4re (09/15/08 03:52 PM)
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#254233 - 10/09/08 02:19 PM Re: RRReview.com [Re: jbt4re]
7222 Offline
Junior Member

Registered: 10/09/08
Posts: 2
Loc: California
I received my first BPO from RRReview last week. Do you have to call them each week to receive more orders?

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#254260 - 10/09/08 04:50 PM Re: RRReview.com [Re: 7222]
75Corvette Offline
Member

Registered: 09/16/05
Posts: 70
Loc: Ohio
No, once you're in their system they will send you requests. RRR is the first company I ever worked for and they are still one of my favorites, but I get very few requests from them anymore. I'm not lowering my fees--they've been the same for 5 years, despite the fact that gas has done what it has and many of these require some distance driving.

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#254301 - 10/09/08 08:28 PM Re: RRReview.com [Re: 7222]
northtxbroker Offline
Veteran Member

Registered: 05/17/07
Posts: 519
Loc: Texas
Originally Posted By: 7222
I received my first BPO from RRReview last week. Do you have to call them each week to receive more orders?


Don't worry about calling them---they will definitely be calling you!! BWAHAHAHAHAHAHAHA!!!!!

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#254303 - 10/09/08 08:33 PM Re: RRReview.com [Re: CanDo]
MontereyBayRE Offline
Member

Registered: 04/16/08
Posts: 26
Loc: CA
They are a great with turn around payment....just not my favorite to deal with on communication

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#254355 - 10/10/08 06:17 AM Re: RRReview.com [Re: northtxbroker]
OHAgent Offline
Major Contributor

Registered: 02/08/05
Posts: 2779
Loc: Ohio
Originally Posted By: northtxbroker

Don't worry about calling them---they will definitely be calling you!! BWAHAHAHAHAHAHAHA!!!!!


LOL! smile

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#260930 - 11/21/08 02:39 PM Re: RRReview.com [Re: OHAgent]
TerrySNJ Offline
Junior Member

Registered: 09/06/08
Posts: 8
Loc: New Jersey
I just started doing BPO and I've been getting quite a few from RRReview. The previous ones have been Exterior BPO's and I finally got an Interior BPO. :)
But I have a question that I can't seem to resolve. According to their instructions -
"REO COMPS - Utilize REO comparables that best represent REO market conditions, as long as they meet the following: a) in the subject neighborhood, reasonable proximity, or competing neighborhood, b) comparable property subject to reasonable adjustment, c) exposed to market for a reasonable period, d) sold comparables dated within 6 months."

OK. I understand thgis but the only way I know of even trying to locate only REO listing in my MLS (Trend) is to utilize the Remarks field. What would I use as a search term? I know that many agents don't give all of the information in the descriptions.

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#260934 - 11/21/08 02:56 PM Re: RRReview.com [Re: TerrySNJ]
nikki66972 Offline
Member

Registered: 08/10/07
Posts: 270
Loc: CA
Do you know the area well? Are there a lot of REOs near the subject property and in surrounding neighborhoods? You would have to use your knowledge of the area to answer the REO questions if your MLS does not clearly include/exclue REOs. Call your MLS and suggest they add that field.

If you don't know the area, try asking your fellow agents/broker about the surrounding area. Tax records can let you know if homes on the same block are bank-owned.


Edited by nikki66972 (11/21/08 02:57 PM)
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#260935 - 11/21/08 03:11 PM Re: RRReview.com [Re: nikki66972]
TB in TX Offline
Major Contributor

Registered: 08/16/07
Posts: 1910
Loc: X
Surely owner name is a field in your MLS...
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#260941 - 11/21/08 03:51 PM Re: RRReview.com [Re: TB in TX]
Highest&Best Offline
Member

Registered: 08/17/07
Posts: 317
Loc: Houston, TX
Or a disclosures field where you can search for "no disclosures" or "corporate seller"

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#260987 - 11/21/08 09:06 PM Re: RRReview.com [Re: northtxbroker]
CandyMan Offline
Member

Registered: 07/12/08
Posts: 338
Loc: California
What a understatement.......I'm still laughing.....

I received an order a few weeks back and decided to take care of the phone call issue......I had it back to them in less than 24 hours....thus, no call. I had one slide in on me last week when I had just got hit with a ton of orders from other companies. It was the last one on the pile. My intent was to get it back to them by Sunday....no such luck.....but, Monday worked.....now, here's the kicker.....order was 5 days old with two days to go.....no emails and no phone calls....go figure.....lol. If this is their new policy send me more.


Edited by CandyMan (11/21/08 11:37 PM)
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#260989 - 11/21/08 09:47 PM Re: RRReview.com [Re: TerrySNJ]
DueDiligence Offline
Member

Registered: 12/05/06
Posts: 463
Loc: Wild Wild West
Originally Posted By: TerrySNJ
I just started doing BPO and I've been getting quite a few from RRReview. The previous ones have been Exterior BPO's and I finally got an Interior BPO. smile
But I have a question that I can't seem to resolve. According to their instructions -
"REO COMPS - Utilize REO comparables that best represent REO market conditions, as long as they meet the following: a) in the subject neighborhood, reasonable proximity, or competing neighborhood, b) comparable property subject to reasonable adjustment, c) exposed to market for a reasonable period, d) sold comparables dated within 6 months."

OK. I understand thgis but the only way I know of even trying to locate only REO listing in my MLS (Trend) is to utilize the Remarks field. What would I use as a search term? I know that many agents don't give all of the information in the descriptions.


I have no reliable method to use in our MLS, either. Most agents put "Client" in the owner field, and a great many put anything that indicates a f/c or short in the Confidential Agent Remarks. Makes it hit or miss for me, too.

Then there is our beloved REO Queen (I really do like her)-- she puts Bank Owned/Lender Owned/Short Sale in an unused address field at the very top.

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#261724 - 11/26/08 10:51 PM Re: RRReview.com [Re: CanDo]
discndeb Offline
Member

Registered: 08/09/07
Posts: 71
Loc: CO
I've had good luck with them, and they pay quickly. They asked me to do an interior on a foreclosed property a half hour away. I was busy and told them my price. I really didn't want to take the time to do it, but I named my price for the rush order and they took it. I also got my check in about two weeks.

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#261725 - 11/26/08 11:21 PM Re: RRReview.com [Re: discndeb]
KoDa Offline
Member

Registered: 03/07/08
Posts: 38
Loc: New England
I like RRR very much, no QC issues & quick pay. 1 photo or they pay more. RE: searching REO, I use terms such as Bank Owned, Corporate, Addendum, Bank, Foreclosure. Those terms usually produce the most. I always state, per MLS @.............whatever the search results.

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#261730 - 11/26/08 11:42 PM Re: RRReview.com [Re: DueDiligence]
discndeb Offline
Member

Registered: 08/09/07
Posts: 71
Loc: CO
Then use those terms from the REO queen. I also have an REO queen in my area. They don't like to put the name of the bank in case others research it,or so I think. Just customize your search and see what comes up. In my area we are so rural we have to take what we can get. What area are you in? PM ME me.

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