It didn't work for me, Gary. But, a few others seem here seem to think it was working for them. I guess it depends on your area.

Years ago it got me lots of calls to do $50-$60 BPO's (not K, they paid $50-$60 per). One did not pay at all and none resulted in listings.  The best thing you can do is to get in touch with banks and lenders locally and put yourself out there as wanting to help as their agent consistantly.  Stay local, work with real live people and know your market.  Save your marketing bucks for something that works. NAR should make these fee for lead opportunists go away!!  Today, business is not going to drop in your lap and there are so many "silver bullet" promises out there to make you the top agent because they have people "beating down their doors" with leads - just say no.  As dad says - if it sounds too good to be true, it probably is.  

I get a few BPOs off it.  Costs me less than $5 per month for the zips I chose.  There is a REO company that I have worked for in the past that I didn't originally get thru REOTran but they have changed all their system stuff to REOTrans so we now have to use them to upload docs, offers, etc. So I guess it is safe to say that REO companies actually do use REOTrans.

Hi Gary, ReoTrans didn't work for me.  I did sell one of the listings that another agent in town had with them.  I was with them about a year and the loss was 20 bucks.  good luck

Realtor Columbus Ga

Just got a listing through this one Gary. I don't remember signing up, they found me somewhere. Will let you know how it turns out. I am cutting down on my BPO's this was a straight listing. woo hoo

Gary,

I have done exceptionally well with this program.  It took probably 6 months but once I got going it has been great.  I have 15 listings currently and have probably sold 25-30 home with it.  

The biggest thing is to build a relationship with a bank or 2.  I get a majority of my listings from a large non-conforming lender that has tons of homes in Indiana.  I know they have a lot in Indy too.  I have 2 banks that consistently give me business.  I have worked with a few others.  Some I won't get business from again and others I will.  Some of the asset managers you will get a long with, others not.

The key is to have a good bio/comment section.  You want to grab their attention and want to give you a try.  Once you get an opportunity to work with them you need to go above and beyond and impress them.   A lot of REO agents suck.  They do the bare min and don't appreciate what they have.  It is not hard to make them look bad.

I spend $60+ a month on zip codes.  I would spend more if needed.  Sign up for 10 zip codes around Indy that you know have a good amount of REO's and give it 6 months to a year.  

Good Luck