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#45492 - 11/18/06 11:08 PM Re: Is anyone signed up with
Retsof Yor Offline
Veteran Member

Registered: 12/03/05
Posts: 694
Loc: South Central Kansas
HSBC, Wachovia, NCEN for me
Roy J Foster, KS Lic #BR0039462
R J Foster & Assoc., LLC
Cert. A*REO Agent
Cert. FHA Inspector ID G551
Cert. FHA 203K Consultant ID D0631
Cert. FHA LBP Maintenance Supvr ID 7534
Cert. Vendor Resource Management REO Specialist

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

#45493 - 11/19/06 04:37 PM Re: Is anyone signed up with
zephyr Offline
Major Contributor

Registered: 08/10/05
Posts: 1665
Loc: Missouri
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!
REO Broker since 2004

"And think not you can guide the course of Love, for Love, if it finds you worthy, will guide your course" K.Gibran

#45494 - 11/25/06 05:46 PM Re: Is anyone signed up with
Junior Member

Registered: 10/25/06
Posts: 4
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

#45495 - 11/25/06 08:01 PM Re: Is anyone signed up with
ddahl Offline

Registered: 11/09/05
Posts: 71
Loc: Sioux Falls SD
I have closed around 20 homes through and never had any fee charged from 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 because of a listing but, have not received one since.
Diane (Di) Dahl
Keller Williams Sioux Falls
Sioux Falls SD 57106

#45496 - 11/26/06 02:54 AM Re: Is anyone signed up with
TNREO Offline

Registered: 09/13/06
Posts: 69
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?

#45497 - 11/27/06 02:13 PM Re: Is anyone signed up with
zephyr Offline
Major Contributor

Registered: 08/10/05
Posts: 1665
Loc: Missouri
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.
REO Broker since 2004

"And think not you can guide the course of Love, for Love, if it finds you worthy, will guide your course" K.Gibran

#45498 - 01/18/07 03:22 PM Re: Is anyone signed up with
The Shannon Team Offline

Registered: 07/27/05
Posts: 74
Loc: Dearborn, MI
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.
The Foreclosure Guy

313-277-6453 x306

#45499 - 01/18/07 06:38 PM Re: Is anyone signed up with
Traveler Offline
Major Contributor

Registered: 11/14/00
Posts: 2500
Loc: The Coast
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.

#53660 - 12/18/06 08:59 PM - Worth the Fee?
seasaw Offline
Major Contributor

Registered: 10/14/06
Posts: 1668
Loc: USA
Have you seen a growth in business subscribing to this site?

#53661 - 12/19/06 01:05 AM Re: - Worth the Fee?
Mr. Foreclosure Offline
Major Contributor

Registered: 09/01/06
Posts: 2834
Loc: upstate New York

#53662 - 12/20/06 07:29 PM Re: - Worth the Fee?
Mr Stark County Offline

Registered: 04/03/06
Posts: 68
Loc: Stark County Ohio
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

#53663 - 12/20/06 08:47 PM Re: - Worth the Fee?
Dennis Teasdale Offline

Registered: 12/11/04
Posts: 231
Loc: Midland Texas

Have you posted REO listings on their site?
Dennis Teasdale
RealtorŪ, GRI

Dennis Teasdale Realtors

#154716 - 07/11/07 02:02 PM Reotrans Question Offline

Registered: 11/01/05
Posts: 37
Loc: Virginia
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!

#154718 - 07/11/07 02:13 PM Re: Reotrans Question [Re:]
amplet Offline
Veteran Member

Registered: 08/10/05
Posts: 844
Loc: MN
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.

#164833 - 08/21/07 09:17 PM ReoTrans Worth the Investment or Waste of Money?
JoeRealEstate Offline

Registered: 07/20/07
Posts: 36
Loc: Fort Wayne, Indiana
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?
Joe Leksich
Joe Real Estate Inc.
#1 Advantage Realtors
Fort Wayne Indiana

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