Hello, I signed up with REOTrans last Summer as a basic member. At the time, they didn't have the certified status'. Now I've learned that if you become certified, your profile will be viewed first by lenders.
Is anyone certified with REOTrans/Equator? If so, what level and have you seen an increase in your business because of this?
Hello to All... 2009 was a Great Year for Me, Thanks to REOTrans!!!
After I signed up on REOTrans I kept seeing a lot of negative comments like, REOTrans is a rip off, they do not lead to listings, waste of money etc...So I narrowed my zip codes down but then I thought what the heck, I'm was paying less than $10 a month. I was a newer agent who wanted in the REO World, I decided to follow my instincts and not listen to all the negatives I was reading.
I am really glad I did...
Last Year 2009 I listed just under $3.5m in REO's and all of them came from REOTrans...which is now called Equator!
I was a Basic Member, they did not offer the Certification until mid 2009. Once I had the time I did take the Certification, not for listings but to learn the Tips & Tricks of using the REOTrans Web Platform.
My thoughts on the Certification are, if you are working with listings (REO's or SS) on the Equator Web Platform take the Certification.
I was going to get certified with Equator and decided not to. The reason ... the certification is just for learning the Equator system ... which you learn very quickly just by working in it.
I have my zip codes and pay extra for my name in bold, having a border etc... to help me stand out. Nothing so far. It seems like it would be more important to the lenders that you understand the short sale process, have good work ethics and communication skills rather than if you're certified on how to use the Equator system. BOA has a manuel they e-mail you plus you can find out pretty much anything you're stuck on by calling BOA customer service. This has worked for me.
I have been a member of REOTrans for over 1 year.I have completed 1 BPO with them (through Quandis).
My mom is a member as well and she did upgrade several months ago for about $500 bucks. I thinkit was taht platinum certification. And no she has not received anything~
I am an agent in Manhattan Beach, Ca. which is a suburb of Los Angeles. I got the upgraded membership and paid for quite a few zip codes. My experience was that when BPO's were posted they were accepted by an agent in less than a minute! It was impossible to get one. I have never been contacted by a lender for an REO even though I have REO experience which I stated in my profile. I think it is a rip off...
To my knowledge, the "certifications" offered by Equator/REOTrans are strictly for REO agent certification. There are none that relate to "short sale certification."
I live in an area of very high population density so my 20-mile radius encompases more than 50 zip codes. I have been paying REOTrans/Equator $80+ per month for several years and have not received a single assignment. Every month, I say I'm going to cancel, but I don't. Procrastination is a self-imposed thief. I agree about the BPO's. Somebody is "scrapiing" the site. I have even been already logged in to Equator, when the alert was issued for a new BPO order. I quickly went to the page, saw the available assignment and "clicked accept." Every time it comes back with "accepted by another agent." 15-20 seconds, how does someone beat that? I quit trying. It's fixed, rigged or gamed.
I have decliined to pay fees to REO outsourcers that previously offered agent listings gratis, and now want to charge a maintenance/admin fee to remain listed. Thow me a bone and I'd be happy to pay. Charge me for zero performance . . . NOT!
The outsourcers and service providers are hurting badly from lack of assignments from the banks. It seems clear that they are trying to make a profit center out of recruiting half-witted agents, eager to pay to get into the REO business, when they know you will never get any business from them! It's a perfectly legal scam.
I have been a member for 3 years - took the certification course and have still not received anything - so I reduced my zip code area after the certification expired. Tired of wasting my money - is this another form of "Share the Wealth?"
Signed with Equator 4-5 yrs ago. I received SFR (Short sale & Foreclosure Resource) certification for all USA , ADPR (Accredited Distress Property Representative designation)... This summer I signed in as Equator Platinum Agent Certification and got Equator Short Sale Agent Certification. The same day I paid ~$500 I got one BPO for $50. I signed for 10 zips. I'll do some Marketing and I'm looking forward getting some Short Sale, Foreclosure, REO...
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