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#45477 - 11/11/06 08:46 PM
REOTRANS
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Member
Registered: 11/09/06
Posts: 23
Loc: California
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Hey all,
Just wondering if any of you REO PRO'S are signed up with REOTRANS.com. They charge to sign up for zip codes, but no referral fee is charged by them. It is like $13 a month to have a profile on there for 11 zip codes. When an AM assigns a listing they view the profiles through this company....I was wondering if it is worth it. I signed up last month because I could see a couple of local agents here have listings on there, so I know it works....I am new to REO's though, and have had my profile viewed about a dozen times since I joined, but no offers to list yet-it could be that they have been working with these other agents a while since they have been doing REO for years, but I figured that there may be a possiblility that some new companies to the site, might try me, or if a company has been unhappy with the other agents they might try me, what do you all think, has anyone had success with it, or has anyone felt scammed by them??? Let me know-thanks in advance-wow, I love this site and reading all the wonderful great insightful posts from all of you! It is so helpful.....glad I found ya! Cari
Edited by Greg Phillips (11/08/07 08:18 PM)
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"Honesty & The Golden Rule are my Policies"
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#45478 - 11/12/06 11:46 AM
Re: Is anyone signed up with REOTRANS.com
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REO Slave
Major Contributor
Registered: 02/04/06
Posts: 1715
Loc: USA
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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.
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"There are people who make things happen, there are people who watch things happen, and there are people who wonder what happened. To be successful, you need to be a person who makes things happen.." - James Lovell- Astronaut
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#45479 - 11/12/06 06:16 PM
Re: Is anyone signed up with REOTRANS.com
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Member
Registered: 11/09/06
Posts: 23
Loc: California
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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?
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"Honesty & The Golden Rule are my Policies"
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#45482 - 11/13/06 03:03 AM
Re: Is anyone signed up with REOTRANS.com
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Member
Registered: 11/09/06
Posts: 23
Loc: California
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Thanks for letting me know, that is very helpful before shelling out money for nothing.....
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#45483 - 11/13/06 06:15 PM
Re: Is anyone signed up with REOTRANS.com
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Member
Registered: 08/26/05
Posts: 178
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We're signed up and have two REO clients that use the site. When you close an REO, look for that $300 "Technology Fee" to be taken from your commission check. Pretty steep on a low commission.
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#45484 - 11/13/06 06:21 PM
Re: Is anyone signed up with REOTRANS.com
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Member
Registered: 11/09/06
Posts: 23
Loc: California
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Darg: Is that in regards to reotrans? Or Resnet? Thanks, Cari
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#45485 - 11/13/06 06:36 PM
Re: Is anyone signed up with REOTRANS.com
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Member
Registered: 08/26/05
Posts: 178
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#45486 - 11/13/06 06:38 PM
Re: Is anyone signed up with REOTRANS.com
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Member
Registered: 11/09/06
Posts: 23
Loc: California
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thanks for the info.....do they charge your credit card on file??
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"Honesty & The Golden Rule are my Policies"
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#45487 - 11/16/06 12:13 AM
Re: Is anyone signed up with REOTRANS.com
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Junior Member
Registered: 07/15/06
Posts: 9
Loc: Southern Ohio
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I'm signed up with reotrans with only the one "free" zip code they allow. I have still been getting listings from surrounding zip codes, so I've opted not to pay for addiitonal zips.
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#45488 - 11/16/06 12:23 AM
Re: Is anyone signed up with REOTRANS.com
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Veteran Member
Registered: 04/01/06
Posts: 1280
Loc: Indiana
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Originally posted by DARG: We're signed up and have two REO clients that use the site. When you close an REO, look for that $300 "Technology Fee" to be taken from your commission check. Pretty steep on a low commission. Do they charge you that on every closing you have when using Real Trans or just the first one?
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#45489 - 11/16/06 04:24 AM
Re: Is anyone signed up with REOTRANS.com
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Member
Registered: 11/09/06
Posts: 23
Loc: California
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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 $$$.
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"Honesty & The Golden Rule are my Policies"
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#45490 - 11/16/06 09:02 AM
Re: Is anyone signed up with REOTRANS.com
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Veteran Member
Registered: 12/03/05
Posts: 694
Loc: South Central Kansas
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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.
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Roy J Foster, KS Lic #BR0039462 R J Foster & Assoc., LLC Cert. A*REO Agent Cert. FHA Inspector ID G551 Cert. FHA 203K Consultant ID D0631 Cert. FHA LBP Maintenance Supvr ID 7534 Cert. Vendor Resource Management REO Specialist 316-258-2670 http://www.investment-properties.org"I am only as strong as the coffee I drink and the hairspray I use."
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#45491 - 11/16/06 09:50 AM
Re: Is anyone signed up with REOTRANS.com
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Member
Registered: 12/15/05
Posts: 38
Loc: USA
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Does anyone know which lenders use REOTrans?
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