Question Details

Marvin EMarv…, Real Estate Pro in

Does anyone use REOTrans? How do you like it?

Asked by Marvin EMarv Corea, Sat Jan 19, 2008

Has anyone used it to facilitate the acquisition of multiple properties at once?

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Answers

18
I think there is just too much competition in California - I am giving it 1 year if I don't get anything, I will cancel my membership with them.
1 vote Thank Flag Link Tue Apr 7, 2009
If you think this website is a scam, contact the BBB and ask for your money back. BUT read the fine print, what does this website promise to do?
0 votes Thank Flag Link Wed Jan 4, 2012
Used to work in the IT dept at Reotrans, This place is a hostile work enviroment, the management team all bully and push employees to launch a half finished website. Maybe that's why so many real estate brokers can't find properties. I left this company, unethical and unprofessional. I agree with Duncan, maybe a big scam. Many employees leave and file lawsuits.
0 votes Thank Flag Link Wed Jan 4, 2012
My partner and I have done about 70 BPOs on Equator formerly REOTrans over the course of the last year. Have we received any listings from it? Absolutely not. We are based out of Orange County so the competition is pretty stiff.
0 votes Thank Flag Link Tue May 25, 2010
I stayed with them 6 months and did not receive any BPOs or REO orders. I cancelled about 2 months ago. If you want BPO orders go to Protek. You have to sign up and take a short test. You should get plenty of BPOs.

Alice
0 votes Thank Flag Link Tue May 25, 2010
REOTRANS now called EQUATOR because they needed a new name. Over 500 inquiries and not one listing or BPO. I'm stupid because I keep paying but I just want to see if this scam ever gives me a listing.
Other agents - even freshman agents have gotten listings. Please someone, tell me the secret. I am 30 years in the business and they can not find a listing for me. Come on, what do I have to do. At least tell me what I have to do so that I can do it.
0 votes Thank Flag Link Thu May 20, 2010
same here...BPO availables don't even appear on my screen until after they are already accepted by another broker....
0 votes Thank Flag Link Sun Dec 20, 2009
It has not helped me at all; have been paying them for almost a year. BPO availables don't even appear on my screen until after they are already accepted by another broker. Something's up with that. I complained to REOTrans, and got no response whatsoever. A waste of money; I'm canceling my account.
0 votes Thank Flag Link Fri Sep 11, 2009
Yes I have used it and have had one so far. You do have to respond quickly though. It's been kind of different, a little hard to figure out how to download and send some of the files but I just call the help desk.
0 votes Thank Flag Link Tue Apr 7, 2009
I'm signed up and paying a year now and not even a tickle. Agents have joined after me and are getting the listings. What is the problem? I also called and was told to re-arrange my agent info. The broker of this company gets all the listings and he joined after i did. The only thing it is good for is you can get a little advance notice of up-coming properties before they are multi-listed which is good if you are more of a selling agent as I am.

Don Fiehl
donfiehl@hotmail.com
0 votes Thank Flag Link Mon Dec 8, 2008
I signed up with many bpo/reo companies and so far I have received many bpo request but reotrans has been the only site that also got me a listing. I was signed up with them for less than 2 weeks when I got the listing/bpo. I am in a rural area and I think this is key. Competition is the name of the game and if there isn't a lot in your area than the better off you are. From reading the other posts I guess I got lucky. I had only signed up for the free zip code that my office is located in and this is where I got the listing. After getting this listing I added many more zip codes. Best of luck to everyone.
0 votes Thank Flag Link Sun Dec 7, 2008
I have been signed up with them for 4-5 months, I have had 33 views but no contacts yet.

I will try it for aliitle while longer because it is pretty inexpensive.
0 votes Thank Flag Link Fri Nov 7, 2008
I signed up almost three months ago. I have not received any lisitings, but other agents in my coverage area are getting listings. Often, the same 2-3 agents always get the listings. I have inquiry about my perception, but again no answer.
0 votes Thank Flag Link Wed Oct 8, 2008
I am on reotrans and have received one reo listing so far, It's only been a few months, so far so good. I am in a rural area and not many agents here have reo experience so it probably helps me a bit...
good luck
Leanne
0 votes Thank Flag Link Sun May 4, 2008
I don't like it It feels like a scam. 200,000 agents registered, and 9,000 listings in march. When asked what the average transacts/agent are, or how long before some work, a completly unsatisfactory answer - just wait. If I were collecting $50/agent per month that would be may answer, too.

Poor value for Money.
0 votes Thank Flag Link Wed Apr 30, 2008
Possibly a major scam! My EmailAlerts are posted at 12:32AM. Even on Sundays! And they are never posted on the BPO posting board. I have even responded to the Alerts at 2:00AM because I just happened to be awake. The addresses offered on my Alerts are never the same as what has been posted and accepted by other agents. I pay $21.60 a month for this scam. I've talked to a reporter on RE frauds who says he will look into it. Only a few agents get the BPOs and the rest of us provide a nice income for REOTRANS. When I complained to REOTRANS about my suspicions , their explanation didn't make much sense and they encouraged to post pictures and personel info which of course allows them to charge more than the $21.60 already billed to my credit card. It's funny that the 3 companies currently offering me BPOs don't charge me a fee!
0 votes Thank Flag Link Thu Apr 17, 2008
I have received email alerts and every time i login with in minutes, I notice that it has been assigned to another agent. I have noticed this pattern ever since I joined, 3 months back, and I suspect their mode of operation.
0 votes Thank Flag Link Wed Jan 23, 2008
Marvin:

I started using REOtrans back in December, after receiving a listing assignment from a company that utilizes the system to request BPOs and place and manage REO listings. My expereince has been mixed. I received one BPO for fee request that I missed because I didn't respond to it quickly enough - it was sent out to 3 other agents - and two BPO/Listing Opportunities that I didn't receive.

After not receiving the listings on the two BPO/Listing Opportunities, I did some research on the agents/companies that received the listings and found that these agents have received the majority of listings from the asset manager assigned to the REO and they were simply "using" me as the required 2nd BPO opinion. When i receive future BPO/Listing Opportunties, I will research the Asset Management company a bit closer before wasting my time.

Feel free to email me with any other questions you may have

Stephen Merkle, CRB, E-Pro
smerkle@cutlerhomes.com
0 votes Thank Flag Link Wed Jan 23, 2008
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