12 comments for “Sticky: ATTENTION USRES REO Realtors

  1. April 4, 2012 at 5:51 pm

    Hi Poncie, Thank your education you offer to some of us who would like to be part
    of that Huge Market Shared by a Few right now. I have a Question,
    A lot of the applications require a list of previous Vendors your worked with in the past. What Happens when you have 16 yrs plus of Experience in Real Estate
    including Working with buyers on the Selling side of REO”S?

    I have seen Agent Brokers that have not being In Real Estate that long and they get REO Listing Accounts!! How do you compensate that factor?

    Alonso Umanzor
    tarbell Realtors

  2. March 21, 2012 at 5:07 pm

    Poncie good day to you what are your thoughts on USRES and not paying their agents and or brokers for the bpo work or paying you and not giving you the reo asset?

    Laura D Filip Broker,CRS, CHMS,CNHS, RCC
    117 E Main Suite 106
    Whitesboro TX 76273
    Office: 903-564-5911
    Cell: 903-271-4978
    Fax: 903-564-9778

    2007 Texoma Parkway Suite 110
    Sherman TX 75092

    • March 21, 2012 at 5:54 pm

      Hi Laura, We have never had a problem getting paid. USRES is a great company. They are now outsourcing for Bank of America. We’ve been getting some REOs. Thank God. I don’t expect USRES to give us the REO when we complete a BPO. To us, a BPO is a BPO and an REO is an REO. Sure we do BPOs, but we are constantly markting the REO department. With the effort we put in, if we get a listing, Praise God. If we don’t Praise God. There’s a lot of REO companies out there. If we cannot work with one, we prospect another. Peace 🙂

      • Laura D Filip Broker,CRS, CHMS,CNHS, RCC
        March 28, 2012 at 3:40 pm

        Poncie what I meant was how do you feel about doing Bpo work for free with the possible chance of getting the asset. And do you do the bpo for free?

        • March 28, 2012 at 3:45 pm

          Hi Laura, I did many free BPO for companies that promised REOs in the past. The result was, I never received an REO listing. So I stopped doing free BPOs unless it came with a written guarantee. Which wont happen. I found that the BPO department has nothing to do with the REO department with most large banks. So I went to the source. Market, prospect the source, not the BPO crew.
          Don’t get me wrong – there are times when one of my REO clients request a 3rd party BPO and I do it for free. Hope this help…

          • Laura
            March 28, 2012 at 4:24 pm

            Poncie thankyou have a blessed night talk to you soon. Laura

  3. March 21, 2012 at 4:10 pm

    Thank you for keeping us updated…I service Los Angeles County in California, keep me in mine, will update my profile now.

    Posted by Maria Barragan

  4. March 21, 2012 at 2:37 pm

    What specific updates should we make?



    REO Listing Agent, Real Estate Agent at Melson Realty

    Visalia, California

  5. Rachel Hicks
    March 21, 2012 at 11:59 am

    Thank You,
    Rachel Hicks-Realtor
    Exit Realty Consultants

  6. March 21, 2012 at 10:36 am

    I joined Res.net, ($300), when a company I had done BPOs for, for over 3 yrs., told me I had to in order for them to give me an REO listing they had to place, so I did. In a couple of weeks I got another REO listing from another co. Both sold quickly. Right after I signed up with Res.net, I started getting BPO requests from USRES, stating up front, that they do not pay for BPOs, but if you do them, you will get a listing when one becomes available. I did 8 BPOs. 2 of them became REO listings with other agents in my area. The other 6 did not even have mortgages on them that were in distress. So I finally got tired of working for nothing, wiped out most of the zip code areas I had put in USRES, and turned down a couple of BPOs that were in outlying areas. I haven’t heard from them since and my renewal date with Res.net will be coming up soon. I really don’t think I’m going to spend the $300 to renew. I’m in a rural, small market area and most of our sales are in the $70-80,000 range, or lower.

    Posted by Helen Palama
    White Diamond Realty
    Tampa/St. Petersburg, Florida

  7. March 21, 2012 at 10:28 am

    Thanks for the information.

    Posted by Peggy Middleton

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