REOTRANS

Posted by: CA_REO_QUEEN

REOTRANS - 11/11/06 02:46 PM

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
Posted by: Gulf Winds

Re: Is anyone signed up with REOTRANS.com - 11/12/06 05:46 AM

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.
Posted by: CA_REO_QUEEN

Re: Is anyone signed up with REOTRANS.com - 11/12/06 12:16 PM

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?
Posted by: OH REO

Re: Is anyone signed up with REOTRANS.com - 11/12/06 02:19 PM

We're members of REOTrans and Res.net. Res.net has NOT been worth the money in my experience.
Posted by: realtor1126

Re: Is anyone signed up with REOTRANS.com - 11/12/06 03:30 PM

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.
Posted by: CA_REO_QUEEN

Re: Is anyone signed up with REOTRANS.com - 11/12/06 09:03 PM

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

Re: Is anyone signed up with REOTRANS.com - 11/13/06 12:15 PM

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.
Posted by: CA_REO_QUEEN

Re: Is anyone signed up with REOTRANS.com - 11/13/06 12:21 PM

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

Re: Is anyone signed up with REOTRANS.com - 11/13/06 12:36 PM

REOTrans
Posted by: CA_REO_QUEEN

Re: Is anyone signed up with REOTRANS.com - 11/13/06 12:38 PM

thanks for the info.....do they charge your credit card on file??
Posted by: Repo Queen

Re: Is anyone signed up with REOTRANS.com - 11/15/06 06:13 PM

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.
Posted by: Makin' Money

Re: Is anyone signed up with REOTRANS.com - 11/15/06 06:23 PM

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?
Posted by: CA_REO_QUEEN

Re: Is anyone signed up with REOTRANS.com - 11/15/06 10:24 PM

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 $$$.
Posted by: Retsof Yor

Re: Is anyone signed up with REOTRANS.com - 11/16/06 03:02 AM

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.
Posted by: mmm3

Re: Is anyone signed up with REOTRANS.com - 11/16/06 03:50 AM

Does anyone know which lenders use REOTrans?
Posted by: Retsof Yor

Re: Is anyone signed up with REOTRANS.com - 11/18/06 05:08 PM

HSBC, Wachovia, NCEN for me
Posted by: zephyr

Re: Is anyone signed up with REOTRANS.com - 11/19/06 10:37 AM

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!
Posted by: COPYCAT

Re: Is anyone signed up with REOTRANS.com - 11/25/06 11:46 AM

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
Posted by: ddahl

Re: Is anyone signed up with REOTRANS.com - 11/25/06 02:01 PM

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.
Posted by: TNREO

Re: Is anyone signed up with REOTRANS.com - 11/25/06 08:54 PM

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?
Posted by: zephyr

Re: Is anyone signed up with REOTRANS.com - 11/27/06 08:13 AM

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.
Posted by: The Shannon Team

Re: Is anyone signed up with REOTRANS.com - 01/18/07 09:22 AM

Quote:
Originally posted by mmm3:
Does anyone know which lenders use REOTrans?
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.
Posted by: Traveler

Re: Is anyone signed up with REOTRANS.com - 01/18/07 12:38 PM

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.
Posted by: seasaw

ReoTrans.com - Worth the Fee? - 12/18/06 02:59 PM

Have you seen a growth in business subscribing to this site?
Posted by: Mr. Foreclosure

Re: ReoTrans.com - Worth the Fee? - 12/18/06 07:05 PM

NO!
Posted by: Mr Stark County

Re: ReoTrans.com - Worth the Fee? - 12/20/06 01:29 PM

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
Posted by: Dennis Teasdale

Re: ReoTrans.com - Worth the Fee? - 12/20/06 02:47 PM

Stark,

Have you posted REO listings on their site?
Posted by: hamptonroadsmls.com

Reotrans Question - 07/11/07 09:02 AM

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!
Posted by: amplet

Re: Reotrans Question - 07/11/07 09:13 AM

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.
Posted by: JoeRealEstate

ReoTrans Worth the Investment or Waste of Money? - 08/21/07 04:17 PM

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?
Posted by: erskine748

Re: ReoTrans Worth the Investment or Waste of Money? - 08/21/07 04:45 PM

I have been signed up with them a long time.I don't pay for extra zip codes.The only contact I got from them was New Century and of course they went bankrupt.
Posted by: linnea213

Re: ReoTrans Worth the Investment or Waste of Money? - 08/21/07 07:03 PM

I have been signed up with them for over a year and have had my profile viewed over 800 times and not one call. Plus I have used the site for my reo listings. I originally had 10 zip codes now I have 4 plus my freebie. It's such a small investment overall that I keep it hoping that 1 contact/listing will pay for it and the exposure can't hurt.
Posted by: rich1mck

Re: ReoTrans Worth the Investment or Waste of Money? - 08/21/07 07:15 PM

I would suggest that you guys change your profile. Try to dress it up with some marketing examples, sales awards, reo experience, ect. I purchased about nine additional zip codes. My profile has been visited 19 times.

I signed up with them in early July and last week got an email through the reotrans system from FIL assigning me TWO LISTINGS! The asset manager said she liked my profile and was hoping that I was available. laugh I have followed their instructions in reotrans - i.e. checking occupancy, re-keying, utilities and bpo. Now I am just waiting on them to settle on a list price.

So far, so good.

Posted by: seasaw

Re: ReoTrans Worth the Investment or Waste of Money? - 08/21/07 07:41 PM

What does FIL stand for?
Posted by: A1fla

Re: ReoTrans Worth the Investment or Waste of Money? - 08/21/07 08:06 PM

I signed up for 8-10 zipcodes in February of this year, zero calls , zero business. It's inexpensive, but it does not produce any business. I think they make it so inexpensive and make money on the volume of Realtors that sign up and pay $10-$15 per month
Posted by: JoeRealEstate

Re: ReoTrans Worth the Investment or Waste of Money? - 08/21/07 08:09 PM

I thought my profile is good, but if you don't mind making any suggestions they would be greatly appriciated

"I have been a REALTOR since 2000. In '05 I received my Brokers license. I have sold many Foreclosures & Short Sales. I have a powerful marketing system that will SELL your homes. www.JoeRealEstateFW.com"

I also have my photo posted on my profile.

As far as my area, I have all of the county I work. I could expand it to a few more counties, but don't want to spend the money if I am not getting results. The area I have has hundreds of foreclosures, it's not like i am in the middle of nowhere
Posted by: BpoBill

Re: ReoTrans Worth the Investment or Waste of Money? - 08/22/07 01:13 AM

Too many "I's". What you're getting across is fine, but try and reword it so you dont say "I" as much. I have that same problem sometimes. I cant help that im confident and like to talk about myself smile
Posted by: linnea213

Re: ReoTrans Worth the Investment or Waste of Money? - 08/22/07 12:19 PM

I think it depends on your location and of course how many other agents in your area are signed up.
Posted by: papa lou

Reotrans - my first bpo order - 10/20/07 08:57 AM

Just received my first bpo order through Reotrans.

I need help with reading the message or maybe the message is just that I have a bpo order; I don't know. I am looking for an order form or something to that effect that tells me what photos they want and specific instructions for the bpo from the lender. I have tried everything logical.

I can't seem to read anything that tells me what photos to take.

I will probably take address verification, front house, side of house, street scene, across the street in front of the house and street sign just to cover everything, but is there a order form with specific instructiosn from the lender?

YOu can PM if you want. But I need some help. I also emailed support@reotrans too, but it is Saturday 10/20 and someone may not reply until MOnday. I want to get this bpo done today.

Thanks.
Posted by: OHAgent

Re: Reotrans - my first bpo order - 10/20/07 08:59 AM

Papa, check the previous post on Reo trans. Other agents were asking the same question and I believe they got it figured out. I only skimmed the post, so I don't remember the answer.
Posted by: amplet

Re: Reotrans - my first bpo order - 10/20/07 08:59 AM

3+ of Subject Property (address verification, front and side photo preferred)

1 MLS photo or printout of each comp sale and each listing
Posted by: papa lou

Re: Reotrans - my first bpo order - 10/20/07 09:37 AM

Amplet I PM'd you.

Does anybody who uses REOTRANS know where the order form is specifying where the photo requirements are or what the other requirements of this lender are? Please advise. PM if necessary. I am searching this board and can't locate anything. Also I have time constraints right now and can't read all the REOtrans postings to find this answer.
Posted by: sybadon

Re: Reotrans - my first bpo order - 10/20/07 09:46 AM

I got an email after I took pics that they required 12 of the suject...exterior...I submitted 2
Posted by: SLO Broker

Re: Reotrans - my first bpo order - 10/20/07 02:19 PM

2 differnet amounts ............

One area said 9 photos

The other said 12 or more

I gave them 11 ..........
Posted by: jbt4re

Re: Reotrans - my first bpo order - 10/20/07 02:33 PM

Got my first order from them this morning. Picture requirements were included in a confirmation email from the asset company, it came about 2 hours after I accepted. As for the amount of pictures once you are in the system, it does state a minimum of 12 on the left had side, but to right of that it will say how many are required to upload for that particular order, in my case 9 pictures total, 3 of subject, 3 listing and 3 sales. It counts down for you as to how left you need to upload.
Posted by: 123sisters

Re: Reotrans - my first bpo order - 10/20/07 02:48 PM

Are these orders being emailed to you, or did you find them on the website?
Posted by: jbt4re

Re: Reotrans - my first bpo order - 10/20/07 06:20 PM

They are being emailed. At least my was emailed to me at 4:40 a.m., I got it when I checked my mail at 6:30 a.m. And from what I can tell it is a broadcast email.

See thread for REOTrans Blast System.
Posted by: Carey

Re: Reotrans - my first bpo order - 10/21/07 08:47 AM

Its a blast system -- my unfavorite!
Posted by: papa lou

Re: Reotrans - my first bpo order - 10/21/07 11:49 AM

Yeah it is a blast system, but at least there is a chance of a listing unlike so many of the other blasters and I did receive a f/u email re: pictures. Which is stupid to receive hours after you receive an order. But what I will do is have to assume 3 pictures of subj, MLS sales comps and MLS listing comps if they are a driveby only.
Posted by: PARealtor

Re: Reotrans - my first bpo order - 10/21/07 08:30 PM

got my first the other day.. wasnt a blast email though
Posted by: seasaw

Re: Reotrans - my first bpo order - 10/21/07 08:48 PM

I've gotten two from Equity Pointe.
Posted by: NYONE

Re: Reotrans - my first bpo order - 10/22/07 12:41 PM

Form is tight on space, only put the year as 07 not 2007. Comments space is 2 lines no word wrap.
Posted by: Realty Check

Re: Reotrans - my first bpo order - 10/22/07 01:00 PM

Horrible company to do business with.. to bad they are able to sell their poop to good asset management companies who think that by using them they will save money and get better and quicker inputs. They were one of the contributing factors in some of Ocwens problems now they are passing their bad business model to other companies.
Posted by: kc in cali

Re: Reotrans - my first bpo order - 10/23/07 12:14 AM

is it standard to pay fees to be on the list?
Posted by: realtorca

Re: Reotrans - my first bpo order - 10/23/07 05:10 PM

$50.
Posted by: birdwatcher

Re: Reotrans - my first bpo order - 10/23/07 05:12 PM

 Originally Posted By: Realty Check
Horrible company to do business with.. to bad they are able to sell their poop to good asset management companies who think that by using them they will save money and get better and quicker inputs. They were one of the contributing factors in some of Ocwens problems now they are passing their bad business model to other companies.


Could you clarify?
Posted by: jbt4re

Re: Reotrans - my first bpo order - 10/23/07 06:05 PM

No it is not standard to pay fees to be on the list. REOtrans gives you your first ZIP code for free, you can add additional ZIP codes for a nominal fee, plus a fee for a profile and picture. I pay for additional ZIP codes. I have received one order so far in my free ZIP code. I give it a try for a couple of more months. Cheaper than any other pay site.
Posted by: birdwatcher

Re: Reotrans - my first bpo order - 10/25/07 09:45 AM

What is their pay schedule?
Posted by: SLO Broker

Re: Reotrans - my first bpo order - 10/25/07 09:50 AM

THere is none .........

THe fee is listed on the offer ...........
Posted by: birdwatcher

Re: Reotrans - my first bpo order - 10/25/07 10:51 AM

Sorry I meant when they sent payment, monthly, semi-monthly...etc.
Thanks
Posted by: zeth

Re: Reotrans - my first bpo order - 10/30/07 10:15 AM

I was trying to sign up with EMC and was told that they give orders via ReoTrans. I signed up with ReoTrans but I understand that I have to pay to get zip codes. Can someone tell me their experience with reoTrans? I don't mind paying but is it worth it? Please let me know your feedback. Thanks
Posted by: Michael007

Re: Reotrans - my first bpo order - 10/30/07 12:09 PM

I just signed up last night with them, but you have to pay for zips.
Posted by: papa lou

Re: Reotrans - my first bpo order - 10/30/07 01:14 PM

I signed up with reotrans about a month or so. I paid for $50 a month of zip code and I immediately started receiving broadcast emaisl for bpo orders. I have only done one of them! I don't have the "technology" to get the rest.
Posted by: 123sisters

Re: Reotrans - my first bpo order - 11/01/07 05:04 PM

I just was charged on my credit card for my zip codes, but have not yet been offered a BPO. Wondering if it will be worthwhile to pay for zips. Anyone getting a significant amount of work from them?
Posted by: SLO Broker

Re: Reotrans - my first bpo order - 11/01/07 05:17 PM

I received 2 in October
Posted by: papa lou

Re: Reotrans - my first bpo order - 11/01/07 05:20 PM

I just accepted my second bpo from reotrans.
Posted by: DelCidsRealty

Re: Reotrans - my first bpo order - 11/02/07 04:31 AM

I have been signed up with them for a while. So far I have not been able to accept any bpo's each time they send a broadcast out. I do not receive it until hours later and by then it is gone. Today there were 2 sent to my e-mail address and I did not get a chance to see it until 2 hours later. Of course it was gone.
Posted by: ChrisWorksHard4u

How do you stand out on REOTrans? - 11/06/07 04:00 PM

There are A Lot of Orders Giving out on REOTrans, But I am not getting any of them.

I was wondering what do you do to stand out on REOTrans.com?
Posted by: Delicious Cake

Re: How do you stand out on REOTrans? - 11/06/07 06:09 PM

I'm about to quit them.

I've never seen a single order..
Posted by: papa lou

Re: How do you stand out on REOTrans? - 11/06/07 06:44 PM

Auburn

Are you getting the bpo email blasts but missing because you don't have the cell phone technology or you are not even getting email blasts orders for bpos?

I guess you have not gotten any listings either?
Posted by: Cool guy

Re: How do you stand out on REOTrans? - 11/06/07 06:48 PM

Isn't REO trans something similar to Reo Network, and not a BPO mill?
Posted by: Delicious Cake

Re: How do you stand out on REOTrans? - 11/06/07 07:03 PM

I am not getting anything, period. No email blasts, nothing.
Posted by: SLO Broker

Re: How do you stand out on REOTrans? - 11/06/07 07:33 PM

I got 2 in October
Posted by: jbt4re

Re: How do you stand out on REOTrans? - 11/06/07 10:28 PM

I got one a couple of weeks ago (my first one). You have to turn on the email notification for your ZIP codes and it will let you know. You do have to log into the site to accept. Hassle there.

Does anyone know how long it takes to get paid from them? Does the check come from the them or the BPO/Asset company?

Thanks!
Posted by: mae

Re: How do you stand out on REOTrans? - 11/07/07 01:18 AM

to hell with a bpo, i want an reo from then lol i been on there a whole year and my profile has only been viewed 6 times I am never goingto get anything at that rate
Posted by: zephyr

Re: How do you stand out on REOTrans? - 11/07/07 10:36 AM

I haven't had any BPO orders from them, but I have had several listings. With Countrywide going over to REOtrans, I hopeto start getting more.
Posted by: Cleveland REO

Re: How do you stand out on REOTrans? - 11/07/07 11:14 AM

I was notifed the other day that EMC and Green River will also be going to REO Trans within the next couple of weeks. My Green River properties already show up there.
Posted by: Ellen45

Re: How do you stand out on REOTrans? - 11/07/07 11:46 AM

My EMC stuff has already moved there, I had to re-enter a bunch of BPOs I'd already done on pre-lists. Kind of a pain.
Posted by: That 20something RE Guy

Re: How do you stand out on REOTrans? - 11/07/07 12:26 PM

I've been viewed 15 times over the past 3 months, just added a few more zip codes, i think I'll add a few more. The number of REOs assigned on their website seems to of gone up over the past few months.
Posted by: Traveler

Re: How do you stand out on REOTrans? - 11/07/07 01:58 PM

I read that asset managers cannot view any properties you post for sale on thier site. Is that true?
Posted by: OHAgent

Re: How do you stand out on REOTrans? - 11/07/07 03:27 PM

 Originally Posted By: mae
to hell with a bpo, i want an reo from then lol i been on there a whole year and my profile has only been viewed 6 times I am never goingto get anything at that rate


Are you in a very rural area? I signed up with them last week and my profile has been viewed more times than that. I have only gotten 1 BPO from them. I've missed a few others.
Posted by: Kristin

Re: How do you stand out on REOTrans? - 11/07/07 10:10 PM

I signed up for about 15 zip codes with them last month. I had 28 views on my profile and I just received my first REO (first one ever, not just with them) So I am excited. There site is a little confusing to me, I don't like that you can't view past BPOs.

Does anyone know how they are with payments?
Posted by: birdwatcher

Re: How do you stand out on REOTrans? - 11/08/07 08:35 AM

Congrats!

I've been signed up since March. I've had 85 views of my profile. No listings yet. I've done 2 BPOs and have missed about 6 others.
Posted by: LeanneC

Re: How do you stand out on REOTrans? - 11/08/07 09:05 AM

Im new with them too. I think their site is confusing also. How do you check how many have viewed you? Also do they email orders or do you have to keep checking the site?
Posted by: OHAgent

Re: How do you stand out on REOTrans? - 11/08/07 11:14 AM

 Originally Posted By: LeanneC
Im new with them too. I think their site is confusing also. How do you check how many have viewed you? Also do they email orders or do you have to keep checking the site?


When you log in, there is a note that says "Congratulations, your covereage area has been viewed X times since X date". I get emails when there are BPOs available in my area. In your account informaiton, there is a question asking how you want to receive emails. If you choose "NO", you won't get the emails.
Posted by: LeanneC

Re: How do you stand out on REOTrans? - 11/08/07 01:31 PM

thank you OHAgent!
Posted by: Greg Phillips

Re: How do you stand out on REOTrans? - 11/08/07 02:26 PM

Consolidation
Posted by: valeriaREO

Re: Is anyone signed up with REOTRANS.com - 11/19/07 01:44 AM

Do all the BPOs become listings on reotrans?
Posted by: 24/7realtor

Re: Reotrans Question - 11/19/07 06:29 PM

I just wanted to let you know that I had the same questions that you have and I decided to go ahead and give it a try. I paid for 8 zip codes just about a week ago and you know what, I got 2 BPOs last night $50.00 each and the form is super easy. I am thinking now that I will get a few more zip codes.
Posted by: Carey

Re: Is anyone signed up with REOTRANS.com - 11/19/07 07:52 PM

Guys,

REOtrans DOES charge a fee. Its just not called a referral fee. Its anywhere from $150 - $300 depending on the company. And yes, that IS on top of your monthly zip code fees.
Posted by: Raz

Re: Is anyone signed up with REOTRANS.com - 11/19/07 10:44 PM

This fee that is not a referral fee, is it just when you get a listing and when do they charge it?
Posted by: PacificBreeze

Re: Is anyone signed up with REOTRANS.com - 11/20/07 03:40 AM

Well I'm just never quick enough to snatch an order up from their blast. Seems I am always a few seconds too late I hate the blast system!!!
Posted by: johnmagic

Re: Is anyone signed up with REOTRANS.com - 11/20/07 05:28 AM

I have the same situation... not quick enough.. how do they respond so quick?
Posted by: ditty

Re: Is anyone signed up with REOTRANS.com - 11/20/07 09:03 AM

got to get my fix...click,click
Posted by: icculus

Re: Is anyone signed up with REOTRANS.com - 11/20/07 09:22 AM

You must have to be extremely fast I got a broadcast on Friday Night about 10:00 pm. I was on their site by 10:03 apparently way to slow!
Posted by: PacificBreeze

Re: Is anyone signed up with REOTRANS.com - 11/21/07 12:53 AM

That's just nuts! I've been there in a about a minute (on an evening blast) and that wasnt quick enough. Guess I need a faster computer again!
Posted by: OHAgent

Re: Is anyone signed up with REOTRANS.com - 11/21/07 11:47 AM

I missed a bunch last Friday night and I missed 2 that were sent at 3:00am one day this week. I don't know how many agents are in my area, but it must be quite a few because those orders are gone in about a minute.
Posted by: jbeans

Re: REOTRANS - 11/21/07 01:36 PM

Why is it when you sign up as a vendor instead of an agent you do not have to pay a monthly zip code fee? The agreement as a vendor providing BPO services only requires a $5 fee to Reotrans per BPO. Has anyone had any luck using them as a vendor instead of buying zip code areas?
Posted by: jbt4re

Re: REOTRANS - 11/26/07 11:54 AM

Bumping - Has anyone received payment from Equity Pointe yet? If so, how long did it take?

Thank you!
Posted by: SLO Broker

Re: REOTRANS - 11/26/07 12:27 PM

I have received several payments, normal time seems to be 2-3 weeks .........
Posted by: GoldenGirl

Re: REOTRANS - 11/26/07 01:52 PM

I have 2 unpaid from 10-17 and one from 11-1.Anyone else waiting?
Posted by: jbt4re

Re: REOTRANS - 11/26/07 02:03 PM

I have on unpaid from October and two earlier this month. They sent me an email about making sure my W-9 was current on REOTrans. It is, but still no check.
Posted by: seasaw

Re: REOTRANS - 11/26/07 03:59 PM

I haven't received payments from Equity for the six BPOs I completed. I'll not accept more requests without payment.
Posted by: DelCidsRealty

Re: REOTRANS - 11/27/07 08:54 PM

Hey everyone, I have a quick question. The other day I tried to accept a BPO request via my Treo. The only problem is that my treo has issues with their platform and I could not accept. Well, today I logged on to reotrans and went to bpo posing board where there was a bpo with a message of taken on it. Does this mean that I did infact accept the order? If so I am kind of disappointed, because it is an interior with a low fee. On the bright side it could lead to a listing. So Auburn or anyone else care to chime in???
Posted by: Delicious Cake

Re: REOTRANS - 11/27/07 09:26 PM

I can't be of any help.. I have never even received a BPO solicitation from them..
Posted by: DelCidsRealty

Re: REOTRANS - 11/27/07 09:33 PM

Thanks anyway. Anyone else know what to do? Tomorrow I will call the contact number and see what is going on.
Posted by: OHAgent

Re: REOTRANS - 11/27/07 09:41 PM

If you have an open order with them, when you log in, it will be listed under "assigned tasks". So far all of my interiors through Reotrans have been with 1 company and they have all been REO 2nd opinions.
Posted by: papa lou

Re: REOTRANS - 11/27/07 11:04 PM

I have two outstanding "no pays" from Reotrans and they were both with Equity too. They might be 30 days old. Not what I am use to as far as payment, but not too long to wait, yet. HOpefully I will receive payment w/i the next two weeks. I got that email regarding my W9 about two weeks ago, uploaded the W9 again and assumed my payment was iminently lurking but have received nothing yet.
Posted by: DelCidsRealty

Re: REOTRANS - 11/28/07 12:22 AM

Ok I have nothing in my assigned task, yet when I click on "BPO Posting Board" that same order shows up and next to the contact there is a question mark and next to that it says "Taken". If someone else already accepted it why is it still showing up in the "BPO Posting Board" ?
Posted by: valeriaREO

Re: REOTRANS - 11/28/07 12:46 AM

It happened to my BPO...assigned before Thanksgiving, but it showed as taken until I complete it......don't know the answer though....but if taken, then it's definetely taken
Posted by: Mitch

Re: REOTRANS - 11/28/07 12:51 AM

Been signed up with them for about 9 months - pay for 40 zip codes - have received around 30 solicitations from Equity Pointe for BPOs, have not accepted any of them. I'm not signed up with them for BPOs, I want the listings. Have any of your Equity Pointe BPOs resulted in listings? I have received 1 interior bpo, 2nd opinion, auto assigned to me from EMC through the system. My coverage areas have been viewed 356 times since originally signing up
Posted by: valeriaREO

Re: REOTRANS - 11/28/07 12:56 AM

I am in your same situation......I have done BPOs but it seems that the listings go to pre-set listing agents.....
Posted by: papa lou

Re: REOTRANS - 11/28/07 02:58 AM

I havent' got any listings either. But it has only been two months for me. I don't like the broadcast system either.
Posted by: OHAgent

Re: REOTRANS - 11/28/07 06:58 AM

 Originally Posted By: DelCidsRealty
Ok I have nothing in my assigned task, yet when I click on "BPO Posting Board" that same order shows up and next to the contact there is a question mark and next to that it says "Taken". If someone else already accepted it why is it still showing up in the "BPO Posting Board" ?


The last few that I have missed have shown up in the Posting Board as "Taken". Even the last 1 I got showed up that way until I completed it. I don't know why it's like that, but if it's not in your assigned tasks, you don't need to do it.
Posted by: iTSSold

Re: REOTRANS - 11/29/07 10:11 AM

Slow week....anyhoo...I just started paying for a lot of zips that are in my area. How does their BPO system work is it a bulleting and I just gotta click or an email system? Also, whats the general volume I can expect (in regard to BPO's). Thanks!
Posted by: papa lou

Re: REOTRANS - 11/29/07 10:32 AM

In Los Angeles it is an email blast system to I don't know how many other agents or broker; but that might just be for me.

It is possible that "certain agents/brokers" get one email and 24 hours to respond.
Posted by: jbt4re

Re: REOTRANS - 11/29/07 03:21 PM

I just called Equity Pointe and spoke with Liesl(sp) and she said you have submit an invoice through REOTrans to get paid. She then put me on perma-hold and said she'd check on it, but never came back on the line after 5 minutes. I gave up. I checked the REOTrans site and don't see anywhere that one can submit an invoice for payment from Equity Pointe.

Any body that has gotten paid by them have any other insights as to how to get paid from them? Did I miss a step some where?

Thank you!
Posted by: sybadon

Re: REOTRANS - 11/29/07 06:08 PM

I haven't got paid from equity point either
Posted by: Lady BPO

Re: REOTRANS - 11/29/07 06:16 PM

I haven't been paid for bpo's last month. I did get a listing with them though through REO Trans.
Posted by: Mitch

Re: REOTRANS - 11/29/07 06:42 PM

LadyBPO,

Did you perform the BPO on the listing you received from EquityPointe?
Posted by: papa lou

Re: REOTRANS - 11/29/07 06:46 PM

I haven't been paid with Equity POinte either. No one told me about submitting an invoice to get paid. And no I didn't inquire about it either. What is the purpose of having a platform if I have to submit an invoice for every little bpo.

Has anybody been paid from Equity POinte? Did you submit an invoice in order to get paid?
Posted by: Lady BPO

Re: REOTRANS - 11/29/07 09:53 PM

No.
Posted by: Lady BPO

Re: REOTRANS - 11/29/07 09:58 PM

I am still trying to figure this site out. Mitch, I did not do the bpo for the listing I got from Equity Pointe.
Posted by: Michael007

Re: REOTRANS - 11/29/07 10:37 PM

I had 120 views since 10/29/07
no listings only 5 BPO from Equity Point
I have not recieved payments yet.
Posted by: LoveRealEstate

Re: REOTRANS - 12/01/07 12:24 AM

I have never done a BPO for reotrans,they are always taken by the time I get to them, but received 2 listings (Fidelity is the lender) in one day after 2 months. I pay about 15 bucks a month for the amount of zips I have chosen.
Posted by: LoveRealEstate

Re: Is anyone signed up with REOTRANS.com - 12/01/07 04:55 PM

what is the normal procedure for getting the contracts? I recently received 2 listings through reotrans (first REO's), accepted both but no contract yet or any instructions. Can you you give me some insight? Thanks.
Posted by: Lady BPO

Re: Is anyone signed up with REOTRANS.com - 12/01/07 06:30 PM

LoveRealEstate, I have had 1 listing on reo trans. You have to go into the library on the my listings page and download the forms,sign them and then send them back. Hope this helps.
You do have to be very careful on this site. If you post things in the wrong place, people get mad. I have decided to learn it a little more before I post. Good luck!
Posted by: sybadon

Re: Is anyone signed up with REOTRANS.com - 12/02/07 08:16 AM

Has anyone got paid for a BPO from REOTRANS yet? ....
Posted by: jbt4re

Re: Is anyone signed up with REOTRANS.com - 12/02/07 10:15 AM

SLOBroker on Page 7 of this thread says he did, 2-3 weeks.

Maybe it's more like 2-3 months?

I am still awaiting payment for an order in October and several in November. I know it's early days for the November ones, but I'd like the October one.

Doesn't REOTrans check these companies out?

If anyone get's paid, post here and we'll all do the same.
Posted by: NYONE

Re: Is anyone signed up with REOTRANS.com - 12/02/07 10:32 AM

I did previous orders and I have been paid.
Posted by: SLO Broker

Re: Is anyone signed up with REOTRANS.com - 12/02/07 11:03 AM

Made as mistake, nope, I haven't been paid for orders in October or November ..........
Posted by: Traveler

Re: ReoTrans Worth the Investment or Waste of Money? - 12/02/07 12:08 PM

 Quote:
I have noticed a few lenders will direct you to this site to receive REO listing from them.


This can be done by using their free registration.
Posted by: papa lou

Re: ReoTrans Worth the Investment or Waste of Money? - 12/02/07 01:14 PM

Regarding Equity Pointe and outstanding payments. I emailed Equity Pointe today Sunday 12/2 and received this email the same day regarding payment:

Please confirm your W9 is uploaded to your REOTrans profile in a pdf format. The process is taking a bit longer for these first two batches as each agent is being set up in our accounting system (our apologies). Provided your W9 is uploaded in a pdf format and signed, you should be receiving your check shortly. We batched for November this weekend and will be processing those early this week.


So I guess we should receive checks before Xmas.
Posted by: Lady BPO

Re: ReoTrans Worth the Investment or Waste of Money? - 12/02/07 01:22 PM

Did you submit your invoice in the expense section?
Posted by: NYONE

Re: ReoTrans Worth the Investment or Waste of Money? - 12/02/07 01:24 PM

BPOs don't need this. Please read the site details and instructions.
Posted by: papa lou

Re: ReoTrans Worth the Investment or Waste of Money? - 12/02/07 01:26 PM

No I did not submit any invoice and when I emailed the contact she just said make sure that the W9 is uploaded to the reotrans site.
Posted by: Lady BPO

Re: ReoTrans Worth the Investment or Waste of Money? - 12/02/07 01:32 PM

Well thats odd because I called them (E.P.) yesterday about pmt for bpo's done in October and I was told that I had to submit them in the expense section. She said once I did that I should have my check by the end of December.
Posted by: papa lou

Re: ReoTrans Worth the Investment or Waste of Money? - 12/02/07 02:37 PM

My work was straight bpos, not a bpo for a reo listing -- if that makes any difference.

I am noticing different responses from different people to the same question; that is a sign to me that the company is unreliable. We will see if I get a check by Xmas.
Posted by: jbt4re

Re: ReoTrans Worth the Investment or Waste of Money? - 12/02/07 05:37 PM

From reading here I've noticed that you can sign up two ways: as a vendor and as an agent (can do both?). I am signed up as an agent. Perhaps we need to be signed up as a vendor too in order to submit invoices for payment. I have looked everywhere on the REOTrans site once I am logged in for an expense section. No such link.

I just don't know if we sign up as a vendor now if we can submit past work done under the agent login.

Any thoughts from anyone?
Posted by: jbt4re

Re: ReoTrans Worth the Investment or Waste of Money? - 12/03/07 02:00 PM

UPDATE: I got a check for October orders today from Equity Pointe. A very good sign. Don't know if my phone call last week prompted it, as I never finished my conversation with the person I spoke with (they kept me on hold for a long time), but I got a check. So, I am guessing January for my November orders.

At least I know I will eventually get paid.
Posted by: PhoneBob.com

Re: ReoTrans Worth the Investment or Waste of Money? - 12/03/07 07:34 PM

I recieved my check from Equity Pointe today also without calling them.
Now If I could only get some more orders from them.
Posted by: josemace

Re: ReoTrans Worth the Investment or Waste of Money? - 12/03/07 08:21 PM

I received a check today for order I di on Oct. 20. I did not create an invoice but did get an email several weeks ago reminding me to upload W9
Posted by: seasaw

Re: ReoTrans Worth the Investment or Waste of Money? - 12/11/07 05:09 PM

I received a check today from Equity Pointe for 2 of 5 orders recently completed.
Posted by: HomeFinancePro

Re: ReoTrans Worth the Investment or Waste of Money? - 12/20/07 01:00 AM

Accredited Home Lenders uses REOtrans as well. I recently had to sign up with them and now have to learn all the ins and out so I can start placing orders on there. I handle preserving all of their abandoned foreclosures and now we just picked up REO. I am getting my dad (a broker) set up on there so I can try to get him listings.
Posted by: Diahann

Re: REOTRANS - 12/24/07 11:45 PM

 Originally Posted By: seasaw
I haven't received payments from Equity for the six BPOs I completed. I'll not accept more requests without payment.


\There is a system on the site you are suppose to use to (I guess you can say invoice). You have to go to expenses and add the payment you agreed to, to expenses. I also with any compnany follow up with the asset manager. I have not had a problem yet hope this helps.
Posted by: seasaw

Re: REOTRANS - 12/25/07 10:41 PM

 Originally Posted By: Diahann
 Originally Posted By: seasaw
I haven't received payments from Equity for the six BPOs I completed. I'll not accept more requests without payment.


\There is a system on the site you are suppose to use to (I guess you can say invoice). You have to go to expenses and add the payment you agreed to, to expenses. I also with any compnany follow up with the asset manager. I have not had a problem yet hope this helps.



They have paid me for all orders now. They seem to request orders the same time every month (i.e., 19th-20th)
Posted by: hmeseller

Re: REOTRANS - 12/31/07 12:06 AM

Anyone having problems getting on to REOTrans this evening? Site seems to have been down for at least 4 hours tonight and I have several tasks due this evening too! Damn.
Posted by: tnugent

Re: REOTRANS - 12/31/07 12:11 AM

Everyone is having trouble, from the web site.

"We're sorry! REOTrans is currently undergoing scheduled maintenance. Please try back later."
Posted by: hmeseller

Re: REOTRANS - 12/31/07 12:25 AM

I get into the habit of saving, then reentering the site while completing my BPOs. Today, I had entered all listing data for all three comps - went to save - and bang! Got that message and lost that data. Waited an hour, logged back in...and everything seemed to work fine until I tried saving the data I just inputted for the second time. Got that message again and have not been able to log in since. Perhaps filling out my BPO for a third time will be the charm. Damn that sucks! I hate having to reenter data on these forms. What a waste of time.
Posted by: cindysellshomes

Re: REOTRANS - 12/31/07 08:13 AM

Wha! La! The system is backup
Posted by: neudot

Re: REOTRANS - 12/31/07 07:23 PM

I get such a kick out of the variations of spelling people use for the original "voila," which is French, and means roughly translated, "there it is."
Posted by: Delicious Cake

Re: REOTRANS - 12/31/07 08:08 PM

lol,

I didn't even know that she meant voila..
Posted by: neudot

Re: REOTRANS - 12/31/07 08:16 PM

She probably didn't know that she meant voila either. lol
Posted by: Traveler

Re: REOTRANS - 12/31/07 08:48 PM

She used the american version.
Posted by: esalechick

Re: REOTRANS - 12/31/07 08:49 PM

Can someone give me the web site for Wha La so I can sign up to do BPO's??? Ha ha ha
Posted by: neudot

Re: REOTRANS - 12/31/07 09:57 PM

Yeah, the American version is also spelled "wala" in another forum I belong to. I'm sure I've seen other spellings as well.
Posted by: Retsof Yor

Re: REOTRANS - 01/01/08 06:43 PM

As in Wala Wala, Washington...if there is such a place. I'm gettin looney Tunes trying to catch up this week.
Posted by: Big Daddy Cool

Re: REOTRANS - 01/11/08 09:32 PM

Has anybody received BPOs from Equity Pointe recently?
Posted by: NH-REO

Re: REOTRANS - 01/11/08 09:35 PM

Got a couple last month, but nothing from them this month...so far.
Posted by: King of Internet

Re: REOTRANS - 01/11/08 09:41 PM

 Originally Posted By: Retsof Yor
As in Wala Wala, Washington...if there is such a place. I'm gettin looney Tunes trying to catch up this week.


there is, and i used to live there. amazing town.
Posted by: savvycyn

Re: REOTRANS - 01/11/08 10:09 PM

Got one last month too...but nothing for about three weeks
Posted by: King of Internet

Re: REOTRANS - 01/11/08 10:10 PM

i havent been paid, or seen anything new. however, i did receive an email from the last week saying they needed my w-9 to process payment. so at least someone is breathing over there.
Posted by: tnugent

Re: REOTRANS - 01/11/08 10:22 PM

I just did an interior for them today. My first one through REOTrans.
Posted by: jbt4re

Re: REOTRANS - 01/11/08 10:53 PM

Haven't received anything since last month.
Posted by: AliceInReoLand

Re: REOTRANS - 01/11/08 11:16 PM

I signed up with REOTrans after they called and promised a listing if I registered my account and zips. I did so and my credit card has been charged every month but still no listing. Is this common practice for them?
Posted by: Palindrone

Re: REOTRANS - 01/14/08 07:23 PM

These REOTrans people are unresponsive. You call and leave a message, no return call. You actually have to get someone on the phone and if you have a question they usually don't give you a straight answer. I don't think they are trying to fool anyone, they just are not well trained. They are not well organized, they sign up a number of vendors who are trying to outsource their work but REOTrans is not doing a good job of managing. Best thing to do is to make your owner of the REOs aware of this site so they can determine the level of competence of REOTrans.
Posted by: TB in TX

Re: REOTRANS - 01/14/08 07:27 PM

Is there a specific complaint? Ask your question here - there are lots of seasoned REOTrans users who might have something to add. That's what we are all here for.
Posted by: NY Realtor

Re: REOTRANS - 01/14/08 07:57 PM

They are very responsive when it comes charging your credit card!That is what I know so far!

 Originally Posted By: Palindrone
These REOTrans people are unresponsive. You call and leave a message, no return call. You actually have to get someone on the phone and if you have a question they usually don't give you a straight answer. I don't think they are trying to fool anyone, they just are not well trained. They are not well organized, they sign up a number of vendors who are trying to outsource their work but REOTrans is not doing a good job of managing. Best thing to do is to make your owner of the REOs aware of this site so they can determine the level of competence of REOTrans.
Posted by: LaceyF

Re: REOTRANS - 01/16/08 09:47 PM

I have only done one BPO for them, and I think it might be my last. There were little or no instructions and after I made the revisions they asked for I noticed the fee magically reduced itself by $15! I emailed EquityPointe directly because I am fed up with not getting any help from REOTrans. The people at EquityPointe are nice though....
Posted by: Gulf Winds

Re: REOTRANS - 01/17/08 08:35 AM

 Originally Posted By: Palindrone
These REOTrans people are unresponsive. You call and leave a message, no return call. You actually have to get someone on the phone and if you have a question they usually don't give you a straight answer. I don't think they are trying to fool anyone, they just are not well trained. They are not well organized, they sign up a number of vendors who are trying to outsource their work but REOTrans is not doing a good job of managing. Best thing to do is to make your owner of the REOs aware of this site so they can determine the level of competence of REOTrans.


REOTrans support is for issues with the web site!

Contact the vendor that assigned you the order for assistance.
Posted by: MontyC21

Re: REOTRANS - 01/17/08 02:22 PM

I've been signed up with them for 6 months, profile has been viewed 430 times, paying for 20 zip codes and get the e-mail blasts. I must be competing with some techies because I have not caught one yet!! It is frustrating to be on-line and respond in under two minutes and miss these. Any thoughts? Is ReoTrans teasing me for my little fee?
Posted by: papa lou

Re: REOTRANS - 01/17/08 02:24 PM

I am sick of Reotrans too. I pay $80 a month in zip codes and have only gotten a few bpos and no listings. I am going to be a little more patient though because I know some lenders/loan servicers "say" they are going to assign listings from reotrans.
Posted by: Bohemiana

Re: REOTRANS - 01/17/08 02:49 PM

I got two listings about a week after I signed up but nothing since then, which was about 8 months ago. My profile has been viewed a bunch of times, too but no more action.
Posted by: TB in TX

Re: REOTRANS - 01/17/08 02:51 PM

Monty - Check the pattern of your email blasts. All of mine come on the third week of the month (this week!) late in the afternoon so I just keep REOTrans open like the other "click" sites during that time.

Be smarter than the system and you shall win!

(and tell your son THANK YOU!)
Posted by: MontyC21

Re: REOTRANS - 01/17/08 04:30 PM

tbtrackstar - Thanks for the encouragement, I have been glued to the screen to see if I can catch one on Reotrans before I get the e-mail, already missed two today. And Thanks from my son:)
Posted by: GUZZIE

Re: REOTRANS - 01/17/08 06:08 PM

Dont feel bad Monty, they are dropping order and I can't catch none of them. They're website is running very slow this evening
Posted by: birdwatcher

Re: REOTRANS - 01/17/08 06:10 PM

Same here! Frustrating!!
Posted by: Lurker

Re: REOTRANS - 01/17/08 06:12 PM

REOTrans is a complete joke for BPOs. I have no idea if it works for REO listings, because I have never received a single call or e-mail from them regarding a listing.

As for the BPOs, I have just received 3 text messages from them regarding new orders in my area. I was on their site when the 1st message came over and hit refresh the moment I was notified, but the order was already gone.

The word is out that they place orders on this date every month, so their servers are overwhelmed.

I have been hitting refresh every 30 seconds for the past half hour. 2 more orders have come through and both were accepted magically, before the server could fulfill my request to refresh the screen. I am on broadband and everything else moves like lightning, so I know it is their servers.

Does anyone know of any tricks to get these orders? I think it may be impossible.
Posted by: producer

Re: REOTRANS - 01/17/08 06:16 PM

Got my first one from them today. Usually they're gone by the time i log on but i think with the website being slow i had more patience than anyone else.
Posted by: MontyC21

Re: REOTRANS - 01/17/08 06:44 PM

OK, now I have two computers working so I can work on one from CC(thanks to text message) and keep hitting refresh for reotrans. I called their tech number and left a message, any bets on them calling me back? I guess I should give myself a goal of having one in 60 days or I am off that site.
Posted by: JohnMc

Re: REOTRANS - 01/17/08 07:09 PM

There was nine order sent out in my area, I was on their site refreshing the screen waiting for new orders. All the orders show up accepted. There seems to be a good twenty minute delay from the post time to the order showing up.

What a waste of time and money.

Those who use balckberry's have any been luck accepting orders?
Posted by: sybadon

Re: REOTRANS - 01/17/08 07:17 PM

Blackberry won't help.... same thing happened to me here...about 5 sent out ...no chance of getting them....
Posted by: RealTgalKY

Re: REOTRANS - 01/17/08 07:19 PM

Snagged one! First one for me.
Posted by: Lurker

Re: REOTRANS - 01/17/08 07:36 PM

I am with you Monty. If I don't receive an order in the next 2 months, I am done with them.

It is one thing, if I were away from the computer or even if I were a minute or two behind. But when I am literally sitting at the computer hitting refresh every few moments and still cannont get an order quickly enough, something is wrong.

I will sacrafice one more month of this and then I am gone.

Then again, maybe I will just cancel with them and then reactivate my account between the 15th and 20th of every month.
Posted by: GUZZIE

Re: REOTRANS - 01/17/08 07:36 PM

It's about a thirty minute delay. All nine were gone. AHH! frustrating.
Posted by: SLO Broker

Re: REOTRANS - 01/17/08 07:40 PM

I sent 2 emails, no return ........

I had the same problem today, something is fishy, or it really stinks.

I noticed all 3 I got over the last 3 months were in my home zip. All the others that came on the blast were out of my home zip and were gone before I could grab. Read between the lines everyone, I think we've been dupped ........

I cancelled all my paid zips this evening .......
Posted by: TB in TX

Re: REOTRANS - 01/17/08 07:44 PM

I've been signed up since May. $275 in bpos since then, so I am making enough to break even with them I guess.

I really hate that we can't see what zips aren't covered, if any. Instead of buying zips with 10 agents, we could buy the orphan ones. I wonder if a really syrupy sweet phone call would get that info. I guess someone would have to answer the phone first, huh?
Posted by: Lurker

Re: REOTRANS - 01/17/08 07:51 PM

I'm not sure there are even real lenders looking at profiles in the agent view section.

When I called their help line earlier to complain, there is an option for lenders interested in using REOtrans. Out of curiosity I selected that option. The mailbox I reached was full.

If you were a large company who supposedly made your living placing REO listings and BPOs, would you have a full voicemail box for interested lenders?

I wouldn't be suprised if they were paying Equity Pointe for the BPO orders or possibly doing them for free, just to tease agents with them. Just enough to make people feel like there is actually a chance of getting business from them.

Why else would they leave a record of every BPO done in an agents coverage area?

It reminds me of when I used to get calls from people trying to sell advertising space on bus benches or shopping carts. The line was alway, "If you close just one deal, the signs pay for themselves".

Well now REOTrans is saying "If you complete just one BPO, REOtrans pays for itself."

B.S.
Posted by: MontyC21

Re: REOTRANS - 01/17/08 07:53 PM

Lurker - Now there's an idea!! Pay for a few days and then edit the profile!! I feel like these broadcast e-mails are a tease to keep me paying and the orders are going to other agents before hitting the website. I'll keep watching and yes Tbtrackstar I will call and speak kindly and professionally, but I think I will wait a week since they might be very busy right now.
Posted by: savvycyn

Re: REOTRANS - 01/17/08 08:39 PM

I had three come across today but couldn't get them on my Blackberry either. I got one last month but I had just signed up. All the requests I get are for my paid zip codes none in my home zip code
Posted by: Peace ☼

Re: REOTRANS - 01/17/08 09:05 PM

There was 3 available in my area today also, did'nt catch any...
Posted by: CFL REO

Re: REOTRANS - 01/17/08 09:10 PM

REOTRANS is total BS for getting BPO orders. It's a total waste of money to pay for zipcodes. I, too, have been sitting at my computer when orders come in and I've yet to get one. That being said, it IS a website that alot of big hitting lenders tend to want to use as a portal for REO listings. Not that you'll get the listing from REOTRANS, but if you get a listing from another source, they'll want you to use this website to upload information. I guess they've got their foot in the door with some big lenders, and are just milking the BPO order thing to make extra revenue. BOTTOM LINE: REOTRANS is a MUST to be registerd with, but forget getting any BPO business from it.

PS: My blackberry is being returned to Verizon tomorrow, within the 30 day return timeframe, so I won't be charged for it. It's USELESS for capturing extra BPO work.
Posted by: LaceyF

Re: REOTRANS - 01/17/08 10:45 PM

I signed up on REOTrans for paid zip codes about a week ago and I caught one interior inspection outside of my home zip by shear chance. It has been really slow ever since I signed up and then BAM today there were TEN in like a half hour! There were not 10 for the whole month of Nov or Dec! Do you think I got one? NO! I was refreshing my screen but their server was so jammed up they were all gone. I am starting to wonder if this is worth the money. I told myself when I signed up I would give myself 2 months. An agent in my office has a listing through them right now, but I think their BPOs are worthless.
Posted by: someoneguy

Re: REOTRANS - 01/18/08 03:26 AM

How odd. I was sitting at the office today and got 10 emails notifying me of emails. Funny, of all 10 I got 1. I thought I was the only one being frustrated because I kept hitting refresh and missing them all. there was about a 20 min delay. I think I am gonna stop spending 40 bucks a month on these guys.
Posted by: LuvSacREO

Re: REOTRANS - 01/18/08 06:00 AM

There were 15 orders/emails in my area today. I was able to fight through the log jam to get one. I kept refreshing and actually hit accept on like three of them, but when the screen actually refreshed, it said it had been accepted by another agent. That delay that you guys speak of comes when too many people are logged in and refreshing consistently. I wasn't having any problem until order #9. After that, they wouldn't show up on the list until like 20 minutes after the fact. What's the alternative LA or EML-style? Let us refresh every two minutes? Then we really wouldn't get any orders.
Posted by: MontyC21

Re: REOTRANS - 01/18/08 02:05 PM

Hey Ya'll, I left a VM with their tech support yesterday(see my earlier post) and they responded via e-mail. Here is part of their message:
"When new BPOs are posted to the BPO posting board a notification goes out to all agents registered in that particular zip code. These BPOs are accepted on a first come, first serve basis. Keep in mind that depending on the area there can be hundreds of other agents that receive the same alert and BPOs can be accepted within a matter of seconds."
To Lurker - they also commented with this:
"10 major Nationwide lenders currently use the REOTrans software exclusively to assign listings and BPOs. The lenders assign listings and BPOs to agents directly through the REOTrans system. Our coverage area service is a form of advertising to get your name in front of the lenders using our software as an available listing agent."

hmmmmmm...seems like someone else has asked these questions of them.
On the upside, got a rush from CC, braved the weather got it done on time and they Approved it!!! Wow, I am so excited, that was my first with them and it was a painful pulling the comps in a rural area.

Posted by: Lurker

Re: REOTRANS - 01/18/08 03:31 PM

Lets do the Math.

(100 Agents) x (An Ave of $20 in zipcodes per month) = $2,000

(6 BPOs issued per month by Equity Pointe in those zipcodes) x ($50 per BPO) = $300

What a great scam.

They should publish who these lenders are, how many listings were placed through their database and how many agents are registered for each zipcode.

The number of listings should not include listings that were placed outside of their list and are just being processed through their system.

I want to know how many times a lender went on their database, contacted an agent on their list and then listed a property with that agent.

They are being intentionally vague about these numbers, because they know they are full of crap and the vast majority of people who pay for REOtrans get nothing for their money.

It is not suprising to me that the veterans on Agentsonline have very little to say about this company. It is because they figured out long ago that it is a scam and is a waste of time and money.
Posted by: iTSSold

Re: REOTRANS - 01/18/08 04:02 PM

I'm signed up for 2 months, picked up 4 last month, and 8 yesterday....
Posted by: GoldenGirl

Re: REOTRANS - 01/19/08 12:54 PM

Signed up in November, have done 6 BPO's, [one interior], have one listing and another in pre-list. I pay on average $12 per month. Remember, you only pay for the zip codes in which you have a 'hit', someone viewing your info. I am VERY pleased with the experience.Sorry, Lurker, but you are way off base, and possibly a little paranoid, with your remarks about REOTRANS.
Posted by: Lurker

Re: REOTRANS - 01/19/08 01:47 PM

I am happy to hear that you have had some results from them Golden Girl.

I would imagine that you are in a less competitive area than I am.

It was pretty much impossible to accept a BPO from them this past Thursday. The orders were gone before they were ever available. There were so many people refreshing their screens simultaneously that REOTrans servers just couldn't keep up.

When I wrote my previous post I was still steaming from watching 6 orders go by, while I sitting on their site. I had no chance to accept them, because their server was frozen.

It just happens that my market is completely saturated with agents trying to grab BPOs. Unfortunately, they charge the same for a zip code if there are 100 agents as they would if there were 2 registered. I have no way to know how many people are registered for zipcodes in my area, but I am pretty sure it is more than a few.

If it works for you, great. I have decided to scrap them. There are more productive things I can spend my money on.

Keep up the good work.
Posted by: Margaritaville

Re: REOTRANS - 01/19/08 02:49 PM

 Originally Posted By: GoldenGirl
Remember, you only pay for the zip codes in which you have a 'hit', someone viewing your info.

You do not pay only for zip codes you have a hit in - you pay for all zip codes you are registered for. I pay the same amount every month whether my profile was viewed 5 times or 50 times.
Posted by: Highest&Best

Re: REOTRANS - 01/19/08 03:08 PM

I agree the site is painfully slow. But I have not yet had a month that I didn't get enough BPO work to pay my fees with some extra left over. I was able to pick up three (the only three that were broadcast in my zips). The last one I got the notification on my Treo while I was in a restaurant waiting on the meal to come to the table. My computer was out in the car so I went outside, refreshed and STILL got the order.

My area is pretty competitive and I have missed a lot of orders in previous months, but I have no major complaints. I would love a listing assignment through their system but I haven't beefed up my profile with the type of comments that I would expect anyone searching for an agent would notice me. Mostly because I'm less than a year in this niche and don't have much to brag about yet.
Posted by: GoldenGirl

Re: REOTRANS - 01/19/08 05:03 PM

Margaritaville, perhaps they have different programs. My contract explicitly states I only pay for those zip codes that have been 'hit', and my monthly bill delineates those charges. It varies anywhere from $5 to $15, for 30 zips, depending on the number that have been hit, plus my profile charge.
Posted by: Big Daddy Cool

Re: REOTRANS - 01/19/08 05:31 PM

I pay $0.03 per day for each coverage area.
Posted by: MontyC21

Re: REOTRANS - 01/19/08 05:56 PM

I pay for every zip code except for my home zip - .o3 per day regardless of how many hits!!
Posted by: TB in TX

Re: REOTRANS - 01/19/08 07:11 PM

 Originally Posted By: GoldenGirl
Remember, you only pay for the zip codes in which you have a 'hit', someone viewing your info.


So not true...

Or you just know the right people and the rest of us are all suckers.
Posted by: CFL REO

Re: REOTRANS - 01/20/08 01:22 AM

DONE DONE DONE with REOTRANS and their bogus BPO broadcasts. What are we? A bunch of monkeys sitting around with our thumbs up our A$$e$ waiting for orders from these companines? I doubt it. I have 16 orders from IAS, another 20 from Lighthouse and 3-4 a day from First American. All exclusive. Some will lead to REO listings, which is the only reason for doing BPOs. I'm not about to sit around hitting my "refresh" button to try to grab BPO business from this, or any, website. Good luck to all who wish to do so. This website is BUNK as far as I'm concerned. Either hire me to do the work or not, but this "first to respond" BS is for the birds.
By The Way - since I'm on my soap box, IAS recently started requiring adjustments to comps for size, bed/bath, locaiton, etc. on their BPOs. For $40 I feel like they are practically requiring a full appraisal (retail value = $275 to $300) - and my appraiser friends agree. This is probably the wrong thread for this gripe, but anyone else agree?
Posted by: PhoneBob.com

Re: REOTRANS - 01/20/08 09:59 AM

IAS is asking for a lot, but they can give you listings. I asked one of the valuation managers about getting a higher fee and she said that it would result in less BPOs and less listings.
Posted by: Trixie\

Re: REOTRANS - 01/20/08 04:05 PM

I'm trying to submit my bpo on REOTRANS and when I hit save and upload it tells me that I need to be running inside a web browser. What does that mean?
Posted by: NYONE

Re: REOTRANS - 01/20/08 04:20 PM

They are doing some maint at the site, I can't get in
Posted by: MontyC21

Re: REOTRANS - 01/20/08 05:13 PM

OH.... OH .... OH.... maybe they are improving the website to make it easier to capture these BPO's ? nah, never happen.
Posted by: GUZZIE

Re: REOTRANS - 01/20/08 06:35 PM

The Blackberry is good for getting orders for Goodman Dean, RRReview, CC, & MarktoMarket.

REOTrans doesnt even have a link to accept the BPO's. For the $30 I spend a month for REOTrans, I can save a hundred bucks a year and get plenty work with RESNET. NOT the USRES side, I dont do BPO's for free.
Posted by: cinloo

Re: REOTRANS - 01/21/08 07:01 PM

Another BPO agent and I have the same zip codes. Interestingly, she got offers from zips we both have, but I did not receive those offers. So don't tell me the blast goes to all agents who are paying for that zip code.
Posted by: cori

Re: REOTRANS - 01/21/08 08:30 PM

REOTrans is not just for BPO's. I haven't gotten any through them and have been with them over a year. I had a few emails check the site and the BPO is gone. I have a listing on their and was required to sign with the company. I don't like the informal way one has to submit an offer on their site.
Posted by: NoVa Gal

Re: REOTRANS - 01/31/08 08:00 PM

Could you help a newbie? Just got my first bpo from Reotrans and I am looking for the promised "full description of BPO instructions and all necessary forms" on the website. Is there a form library?
Also, my assignment letter says I am being considered for the listing. Any tricks to getting it by doing the bpo?
Thanks in advance,
Betsy
Posted by: Retsof Yor

Re: REOTRANS - 02/01/08 04:51 PM

You must be Agent B...there are no tricks. Pay your dues and listings will come.
Posted by: Crash

Re: REOTRANS - 02/01/08 06:04 PM

I dropped them today, 2 bpo offers in 5 months no listing and 25 views....i think we are seeing some marketing hoodoo here.
Posted by: LaceyF

Re: REOTRANS - 02/01/08 06:18 PM

I have only done one BPO for them, and it was an interior. It had already been assigned to an agent because the house had already been rekeyed and they gave me an agent's phone number to call if the combo box wouldn't work. I did the BPO, yada yada yada. A couple weeks later, the same property came back on as a new BPO order, also an interior. Does that normally happen? At the same time the new order was broadcast, the house was listed for $25k more than I said it was worth...

Also, I have been getting emails lately for available orders, and then when I log in there are none. Then the opposite happens where I log in and see there were new orders and I never got the emails. I am about done with them. Anyone else having the same problem?
Posted by: SoldbyEd

Re: REOTRANS - 02/01/08 06:50 PM

I guess I'm lucky. I received an REO from IAS without ever doing a BPO for them. Then it was transfered to Reotrans. I also have been unable to snag a bpo from Reotrans. Always gone before I get to it.
Posted by: Crash

Re: REOTRANS - 02/01/08 06:54 PM

I just finished an ias without ever using reatrans.
Posted by: MontyC21

Re: REOTRANS - 02/02/08 07:56 PM

I am done with them. Feel that the $20 each month could be better spent on gas to take pics of BPO's I am actually capturing and being assigned!! I will keep my primary free zipcode but that's it. And my profile was viewed over 400 times!! What's with that??
Posted by: OHAgent

Re: REOTRANS - 02/02/08 10:28 PM

 Originally Posted By: MontyC21
And my profile was viewed over 400 times!! What's with that??


The way I understand it, your profile is "viewed" every time an asset is assigned in an area that you service, so even if the asset manager already knew who they wanted to assign the property to, your profile comes up when they enter a new property in your area.
Posted by: NoVa Gal

Re: REOTRANS - 02/02/08 10:54 PM

Thanks for your responses above. Are there instructions to the reotrans/emc bpo form online? It's a bit more confusing than others.
Thanks.
Betsy
Posted by: LND

Re: REOTRANS - 02/06/08 05:13 PM

I have the same question. The form says that it cannot be saved unless blank, and that if we want to save it we must print it out. Do I need to print out several pages of the form, scan them back in and then submit it? Or am I missing something? The only form I can find is the blank only one. HELP!!
Posted by: LND

Re: REOTRANS - 02/06/08 06:26 PM

ANYONE?!......
Posted by: RealTgalKY

Re: REOTRANS - 02/06/08 07:15 PM

Can't save to your own PC, but you can submit when you complete the form, I think.
Posted by: NoVa Gal

Re: REOTRANS - 02/06/08 07:48 PM

There should be a save button at the bottom of the last page of the form. You can work on it, save it and then come back to it later. However, once you submit it, it's gone from your computer.
A word of caution for someone who just finished their first bpo for reotrans-budget enough time to finish it. It took me longer than the CC or LandAmerica form.
And, no, there are no instructions.
Good luck!
Posted by: NoVa Gal

Re: REOTRANS - 02/06/08 07:53 PM

Also, you should be able to locate a form that has your subject property's address filled in. I think you go to the "assigned tasks" button at the top and then click around until you find a live link with the bpo form. I agree there is a learning curve with the form.
Posted by: birdwatcher

Re: REOTRANS - 02/19/08 07:56 PM

Anyone received a BPO blast from them recently?
Posted by: savvycyn

Re: REOTRANS - 02/19/08 08:23 PM

No but is coming up to that time of month. Noticed on my posting board that they are usually sent out between the 16th thru the 21st. At least with Equity Pointe
Posted by: C21REONH

Re: REOTRANS - 02/27/08 11:53 AM

I got my first bpo from them. It was assigned but I dont see what the payment is for it?

Edit...
It says that they have ordered 2 interior BPOs and that I am being considered for the listing? is that my compensation? a 50% chance for a listing?
Posted by: Bob Colorado

Re: REOTRANS - 02/27/08 07:17 PM

I have over 360 Views and not one listing. The only thing I get is EP BPO's and now that they left and went to Quandis I don't see any point in paying for someone to look but not touch my profile. I can spend that money hiring a flyer guy for my farms.
Posted by: TB in TX

Re: REOTRANS - 02/27/08 07:19 PM

I got a $100 bpo from a certain mtg co (no I won't say who) from my REOTrans acct, but they called me directly. They swear I am up for the next listing in my area, but fear that they are scared I might actually SELL a house, whereas their current agents seem to prefer to LIST.
Posted by: TheMotorCityDon

Re: REOTRANS - 02/27/08 09:10 PM

^so whos the company?
Posted by: Mr. Foreclosure

Re: REOTRANS - 02/27/08 09:24 PM

Several (unfortunately) use that platform. Personally I hate it to the point where I might start declining listings that require using it.
Posted by: AtlRealtor99

Re: REOTRANS - 02/29/08 08:42 PM

I've gotten 1 BPO which could have turned into a listing but the competing agent got the listing. Unfortunately, I have to drive past the darn thing everytime I go home.
Posted by: lilbee

Re: REOTRANS - 03/05/08 12:39 AM

This is too funny (if it wasn't so sad).

I got an email saying there was a bpo posted in my area and to login to the site to accept. Funny thing is, I was already on the site so I refreshed.

I saw the bpo listed but it was already taken. I received the email notification at 12:14 am and the bpo says it was posted at 4:04 pm the previous day. Funny as HELL. It was not posted at 4:04 pm because I had checked throughout the day.

WTF??...an 8 hour time lag?
Posted by: jbentley

Re: REOTRANS - 03/05/08 09:18 AM

They (REOTRANS) in India aren't they?
Posted by: LaceyF

Re: REOTRANS - 03/05/08 11:48 AM

I've talked to their tech people and they were in LA
Posted by: adamwealth

Re: REOTRANS - 03/06/08 01:32 PM

Here is their Addy
1600 N Rowell Ave
Manhattan Beach CA 90266 US
Posted by: papa lou

Re: REOTRANS - 03/06/08 10:32 PM

REotrans I am getting ready to let go. I have paid for over $80 in zip codes a month and nothing but bpos.

Reonetwork is done. I am not renewing my premium partnership when it expires.
Posted by: UpNorthGal

Re: REOTRANS - 03/06/08 10:47 PM

^ I am also not renewing my premium partnership when it expires I dont think I have got anything since I became a premium partner and if I did they never told me when they contacted me! But where I am there is only about 15 agents when you search my area
Posted by: neudot

Re: REOTRANS - 03/07/08 04:03 AM

I have just the free memberships in Reotrans and Reonetwork. I got assignments from two companies new to me just yesterday who found my contact info on Reonetwork (one was CW), and two other companies in the past three months. So I definitely think it's good to be listed there. I haven't paid per zip or any other way to be listed.
Posted by: latinMichael

Re: REOTRANS - 03/08/08 09:45 PM

I have over 300 Views and not one listing. I am a member of reotrans from six months and I have answered 20 BPO's. I have paid all of them.The first was delayed three months because I missing w-9. And the worst thing was that they wanted in PDF format. Are very exacting in detail. I have had more than 300 visits and I do not have even a single list.
Posted by: hazelangel

Re: Is anyone signed up with REOTRANS.com - 03/08/08 10:34 PM

I am signed up with REOtrans because the bank requires me to be. I hate their system though. I am also signed up with RES.Net because it was a requirement from a few bamks. Now it is from my experience that the 250 fee for res.net is the only fee you pay. I have not had to pay any "referral fees". Now I haven't directly gotten an REO just because I was a member, I got the REO and had to sign up with these companies. I don't have a premium membership with Reonetwork but I have gotten about 6 listings from them and lots of bpo work. Just my 2 cents.
Posted by: REO$DAWG

Re: Is anyone signed up with REOTRANS.com - 03/11/08 06:01 PM

 Originally Posted By: papa lou
REotrans I am getting ready to let go. I have paid for over $80 in zip codes a month and nothing but bpos.

Reonetwork is done. I am not renewing my premium partnership when it expires.


Maybe we should activate and deactive some of our zip codes every other day or so...then complain about our billing statements; that there is an error in coverage days billed for some areas, and make them research it....deactive days not billed per zip and active days billed at .03cents per day!!! I cover 39 zip codes and could make my billing statement like 5 pages or so, if I worked at it. They might rethink their business model when we all tie up their people all month long figuring it all out for us.

AND YES, it is pretty shady for them to not let us know how many agents are paying for each zip code.
Posted by: UpNorthGal

Re: Is anyone signed up with REOTRANS.com - 03/11/08 09:00 PM

^^Totally agree, I would like to know how many agents are covering my zip codes.They should have to disclose that some way.Wish we could look at other agent profiles too,I would like to know who is all on there.
Posted by: Florida_SunShine

Re: Is anyone signed up with REOTRANS.com - 08/02/08 09:06 PM

I have been with Reotrans for about a month now and my profile has been viewed about 20 times and no nibbles. With that amount of traffic and no bites, I wonder if I should re-write my profile?

I guess my question should be directed to the agents here that have had sucess with Reotrans. What do you feel attributes to your profile being pick over the other agents in your market?

Any words of advice would be appreciated.
Posted by: jbt4re

Re: Is anyone signed up with REOTRANS.com - 08/02/08 09:17 PM

Well 1 year later and 320 views, about 6 BPO and 1 REO. The one REO is from a company I worked with before, they just switched to REOTrans a couple of months ago. So, there's my stats. Don't know if it helps or not.
Posted by: Florida_SunShine

Re: Is anyone signed up with REOTRANS.com - 08/02/08 11:11 PM

I was tring to see what other agents say in their profile wirte-up. Ya know what is working for them.
Posted by: ReoKing

Re: REOTRANS - 08/03/08 09:43 AM

I'm a broker out of SW FL and I've used reotran....NEVER AGAIN! granted it's a requirement by some clients but REOticker.com has links in their portal directly to all of my client's websites.

Instead of farting around on 5 different sites, i do it all in one now.

Just in case you care.....
King D.
Posted by: ReoKing

Re: REOTRANS - 08/03/08 09:50 AM

Don't waste your money. REOticker.com has a much better platform and only charges you once you get a listing. Have you ever seen tranz's platform? it's like driving one of those Fred Flinstone cars on Rt. 95...

Just my opinion...but what do I know?

King D.
Posted by: King of Internet

Re: Is anyone signed up with REOTRANS.com - 08/03/08 09:51 AM

i had over 800 views in 6 months, and not 1 contact. i dropped them quickly thereafter.
Posted by: King of Internet

Re: REOTRANS - 08/03/08 09:54 AM

Originally Posted By: ReoKing
Don't waste your money. REOticker.com has a much better platform and only charges you once you get a listing. Have you ever seen tranz's platform? it's like driving one of those Fred Flinstone cars on Rt. 95...

Just my opinion...but what do I know?

King D.


out of all the information on this board, and all the help a "king" could give out, all 3 of your posts are promoting the same website.

Please stop spamming immediately. We dont care.
Posted by: Gman

Re: REOTRANS - 08/05/08 12:53 AM

1 month, 20 views, sounds exactly like what I got. In fact it is exactly what I got. Sounds like a form letter / Email. My opinion is they bleed you slowly at $3.75-$5.75 per month so you don't notice. My opinion and strictly my opinion is GET OUT!!!!!
Posted by: King of Internet

Re: REOTRANS - 08/05/08 12:57 AM

i havent checked their website in a few months, just figured that if i had a nibble they would email me.

then yesterday, i see they took $9 out of my checking account, and i thought, i should go see how many views i have now.

i tried logging in, and it says i have to redo my account, and with starting over, i lost all my views, and now, i dont even know what they charged the 9 bucks for.

better go check it if you havent in a while.
Posted by: jbt4re

Re: REOTRANS - 08/05/08 07:04 AM

OK, things are picking up for me on REOTrans, I now have a whopping two properties from the same AM on there. But like I said above, it's a company I worked with before that just switched to their platform. I don't necessarily think the ZIP codes are worth it and I cut mine back to about $5.00 a month.
Posted by: Devenity

Re: REOTRANS - 08/05/08 08:27 AM

I had another agent in my area tell me that he gets an average of about 1 listing from REOTrans every two months. I have been signed up with 10 zips for the past 5 months and nothing yet.
Posted by: Tmason

Re: REOTRANS - 08/06/08 10:49 AM

I use reotrans and don't have any problem getting assignments with many different companies. I have at least nine different companies I work with on reotrans.

Here's the key for the newbies in reotrans to get the business..
first find out who the companies are that use reotrans..IE..assetlink, litton, gmac, keystone, ect...then you need asset manager info from one of those companies and contact the asset manager for business. When AM's look at your stats you have nothing on it, no experience. You are being passed on for other agents who have a record of experience. Your profiles about yourself have little to do with getting the business. You can say anything you want about yourself, how do they know you are telling the truth, ( no offense to anyone). Your profile of yourself isn't what will get you the business.

Once you get in with some sort of AM from one of the many compaines that's uses reotrans, they will start assigning you agent B BPO's and they are usually what I call the "crap shacks." However, you need to do whatever comes your way because this is what gets you a recording on reotrans for other AM's to view. You will have to do a handful of crap shacks as agent B but after you paid your dues as a newbie to reotrans, you will eventually get a listing or two, then more. This is how it started with everyone I know who has reotrans. You MUST find a AM contact in today' market. We are saturated with REO agents and every good "reo" assigning company is about tapped out on accepting new agents. Find another way in!

I currently have 73 listings with reotrans and in September I will have been with them for one year. Gmac just dumped the rest of it reo's with assetlink and I am being assigned 40 new listings this week. This will bump me to having over a hundred listing with reotrans!Yes I have a team of agents who I have assisting me with the work load. Know what's going on in the mortgage world too, keep up with the merges and take overs so you know who to go too. Example...don't try and get in with CW anymore or Gmac or Indy....get in with the bank that is taking there business.

Inside tip: When a bank goes under..IE..gmac...and another takes over..IE assetlink...gmac's records do not go to assetlink, they can't....this means all those reo agents signed up with gmac but not assetlink are now out of luck and just got a drastic cut in business. However us assetlink agents are litterally getting double digit listings assigned because someone has to pick up the work load! Records do not transfer over to the new companies, including agent registrations!!!!Pay attention to what's going on with the banks and be ready to move fast when there is a merge or take over!!!!

Believe me, if I can do it, so can anyone else.
Posted by: OklaHome

Re: REOTRANS - 08/06/08 12:10 PM

Thank you for the information.
Posted by: Rockstar

Re: REOTRANS - 08/06/08 01:07 PM

Tmason Thanks for the info, I've been with REOtrans for about 1 yr and only receive listings from one AM and bpo requests from other asset managers but no listings! What do you say to those AM to convince them to send you business?
Posted by: Tmason

Re: REOTRANS - 08/06/08 03:18 PM

Rockstar-

you need to establish a relationship with the AM. In my case I simple ask for the business! I'd have to assume that I have enough of a working relationship with the same AM that I have the ability to just be bold. Lately I haven't had to ask for anything, however I have my moments.

I remember when I first started to get BPO's, I'd pay attention to who was my contact, it turned out that I had two contacts that were on most of the BPO's, so I simply sent them a nice email saying something like this...

" Hi Rob, I see that I have another BPO order, that's great, thank you for thinking of me. I was wondering after doing this order, I will have a number under my belt with you, do you think maybe you could throw a reo my way sometime soon. I'll even do a most unpleasent one for you that other agents would throw by the wayside. I'd like the opportunity to show you I know how to do a reo, not just BPO's. What do you think???? Am I getting any closer to that reo bone???? ;)"

Then when he didn't assign me a reo and I got another BPO...I jokingly sent another email..." that wasn't a bone, that's a nibble...:) Come on Rob, I know you assign those reo's....throw me a bone!

Then he did just that, my next order was a reo. The worst crap shack I've been in, it was nasty! I was like...GEE thanx Rob! That's what I get for asking he said! We laughed....the rest is history....he and one other AM feed me constantly.

now I have many other Am's and contacts too....but that's just an example....Here's a tip: I found that the AM's at assetlink and keystone are the friendliest AM's to do this with! All the other companies I work with now, came along well after working with keystone and assetlink, which are the two who helped build me on reotrans!

Hope that helps! Good luck.
Posted by: Rockstar

Re: REOTRANS - 08/07/08 12:11 PM

Thank you for the great info, you rock!
Posted by: neighborpro

Re: REOTRANS - 08/07/08 12:57 PM

I just got a notice that Fnams Saxon files are to be completed on REOTrans.

What's going on?