Over the last couple of week’s we have received multiple emails, asking if REO Network is legit or a scam. Scams try to swindle (someone) by means of a trick. For example, they might say, “we have an REO listing for you but first pay us $400.” Or “sign up to our network and we guarantee you’ll receive REO listings, it’s only $400.” Then you never receive nothing.
REO Network is NOT a scam. I repeat, REO Network is NOT a scam. In our humble opinion, REO Network is legit. REO Network is an online directory of real estate professionals. They’ve been around for many years. You can join their network for FREE and they never guaranteed REO listings or accounts. They do network with many REO companies and are actively involved in REO conferences.
REO Network does offer Premium Partnership which cost a whopping $1,200 a year. As a Premium Partner, you get first exposure for your area. See some YouTube Testimonial HERE.
What are the Pros and the Cons?
- In 2008, Poncie joined REO Network’s free online network and within a few months, received calls from multiple BPO companies. We also received our first NationStar REO thru REO Network. Our asset manager said he saw us on REO Network. This is how we got our foot in the doors of NationStar.
- Many of our REO network friends have received REO assignments because of REO Network.
- REO Network has an A+ rating with BBB and no complaints.
- Join REO Network for FREE
- AKA Clear Capital, Broker Price Opinion Company
- From 2009 – Present, we have received zero calls from asset companies. Aside from HUD, Fannie Mae and Freddie Mac, the REO world has dramatically shrunk. The big banks have their own networks, therefore do not utilize REO Network.
- REO Network has poor web presence. According to Alexa.com , REO Network is ranked 2,737,366 globally. That means very little people, including asset managers are visiting REO Network. $1,200 for little internet exposure seems far fetched. Compared to Zillow, who is ranked 195 globally.
Overall, REO Network is a great honest company. I definitely recommend you join their FREE network. If you are located in an area that is not saturated with real estate professionals, you might consider Premium Partnership. Check with your marketing specialist to see if this is right for you.
For more information, visit REO Network HERE.