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Sean Morriss…, Real Estate Pro in Aurora, IL

Has anyone had experience using RES.NET to obtain Asset Manager or Short Sale listings? Good or Bad Experience Comments WELCOMED!

Asked by Sean Morrissey, Aurora, IL Fri Jan 11, 2013

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There are many many agents on the Res.net platform, expecting Res.net to generate listings it all depends on your location/competing agents. Fact is you will need Res.net if you are assigned a listing that must be managed through this platform. Listing are more likely to generate from Asset Management Companies rather than an Asset Managers "looking" on Res.net, if they use the Res.net platform they will ask you to create an account. On a personal experience I managed many listings through Res.net back in 2008 and 2009 but those Asset Management companies did not find me through Res.net. I paid the yearly membership on 2010, 2011 and nothing, no Asset Manager has ever contacted me because "he/she found my profile on Res.net". I now have a listing that I am managing through them, but again, the listing came directly from the Lender.
0 votes Thank Flag Link Sat Jan 12, 2013
has anyone here yet even realized that usres will pay you if you ask them? hasn't anyone done this yet?
scott gallagher, carrington real estate
0 votes Thank Flag Link Wed Apr 22, 2015
Itis a nice platform to add to your business. However I know here in New York it does not generate much for us. You might find it to be a bit more useful
0 votes Thank Flag Link Tue Jul 8, 2014
I mirror Janoska's answers plus doing a lot of checking with your local title companies who do the closings, lenders, banks, and find out who handles most of their REO listings. Sometimes, or, more likely most of the time, you'll need to sit down, write a concise and detailed, but fairly short, resume' and then contact every asset manager you can find on line. There are sources that have the contact material for almost all these asset management companies and the person(s) handling the REO business. You'll have to sometimes pay a fee to gain this info, as I did yrs ago, but I found four that I worked with for several yrs without having to pay them a cent to handle their listings, and, they were very congenial and professional from start to finish and I want to thank them for that. If you know of any agents in your area, or, just outside your area who does REO work, try approaching them with the intent of asking for leads to get started in the business. Can't promise but worth a try. In the meantime, don't waste your money on Res.Net and those companies 'assuring' you that big business will come your way. I had one fairly good yr with Res.Net out of about 7 that I paid upwards of $800 a yr fees just to be able to get listings. When it dried up, I didn't have one a yr, so, you be the judge as to the best use of your money and time. Good luck
0 votes Thank Flag Link Tue Jul 8, 2014
You will need to apply with every asset management company there is DIRECTLY. Do not spend a single dollar on big REO/Short Sale promises from websites that target Realtors to join for a fee all the time, its all a scam (I have paid many). If you become a member on REO PRO you will find the list there no need to pay for one either, in addition you will enjoy the blogs and all the helpful information. The application process with the Asset Management Companies is exhausting and you will find that many companies are not accepting new applications. On the Short Sale side I would need to know who are the biggest default loan holders in Chicago to give you a couple of recommendations. Best of luck!!
0 votes Thank Flag Link Sun Jan 13, 2013
Thanks for your detailed response! Any recommendations for developing relationships with asset managers other than search sites like res.net?
0 votes Thank Flag Link Sat Jan 12, 2013
You will need to apply with every asset management company there is DIRECTLY. Do not spend a single dollar on big REO/Short Sale promises from websites that target Realtors to join for a fee all the time, its all a scam (I have paid many). If you become a member on REO PRO you will find the list there no need to pay for one either, in addition you will enjoy the blogs and all the helpful information. The application process is exhausting and you will find that many companies are not accepting new applications BEST OF LUCK!
Flag Sun Jan 13, 2013
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