Question Details

Team Mezo, Real Estate Pro in Nixa, MO

Can I please get your opinions about Equator?

Asked by Team Mezo, Nixa, MO Tue Jan 10, 2012

I am a new agent debating about signing up on Equator to get REO listings. They have different tiers and Equator claims you get more visibility buying the Platinum membership. It's going to cost me around $700 and as a new agent I want to check with people who have experience before I spend a chunk of my marketing budget on this. On other blogs online it says that asset managers have their favorite agents and there is a good chance they will not pick you anyways. Also, they will not tell me how many people in my zip code have a platinum account, which worries me. If I am competing with 10 other platinum agents for the listings my odds are a lot less. So can I please get opinions? I need listings!!! :)

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Answers

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Hello Amanda,

I signed up for Equator two years ago. I have not had any business directly from signing up. I did not sign up for the "Platinum" edition due to the cost. I would suggest you register with Equator and start with BPOs and get the hang of it. This is free. typically, REO managers want to know that you have some experience and track record of selling homes and a certain amount of experience in real estate 3-5 min. You can sign with Core Logic and assetval for free to start doing BPOs. Once you get the hang of that you can really start on the REOs.

If you are truly interested into getting the REO listing(. Join the crowd! :) There REO conference you can attend to get to know asset managers throughout the country. This helps build personal relationships and gets YOU in front of managers who assign listings. They are expensive, roughly $2000.

Hope it helps & good luck
2 votes Thank Flag Link Tue Jan 10, 2012
Hi Amanda,

If REO listings are what you are targeting, you may want to reconsider your strategy.

I would first suggest checking into the foreclosure activity in your service area. Determine if there is one lender who has more foreclosures than another and therefore would have a higher liklihood of more assignments. I would then check with that lender to find out what their agent requirements are. Many lenders require that their REO agents have specific training before they will consider assigning you their assets. Next, I would find out how they select their agents and then take it from there. You may or may not need to spend the money on Equator.

Best of luck!

Barbara Grandolfo
1 vote Thank Flag Link Wed Jan 11, 2012
I have been a basic member for about 7 months now;
I have gotten 6 BPO's and no Listings.
I feel like I'm paying my dues and learning at the same time.
Their BPO procedure is the most stringent.
I do not feeling like giving anoyone $700 for the privilege of waiting in line.
I think I have a better chance of finding clients on Trulia.
Good luck and may God bless
1 vote Thank Flag Link Tue Jan 10, 2012
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