did you learn your lesson???  learn to make your own phone ring...that's why you're here!!!!!  learn to market online.... and if you're a listing agent, you MUST learn to market with direct mail marketing....listings are found with offline marketing and direct mail is best.... it's a numbers game.... I do print also and it all contributes to branding the name as listing agents... we get calls from many sources... 

so my vote is to dump them.... 

I was a member of RESNET and paid that fee. I was doing BPO's at that time and many of the companies/banks I worked with placed their properties in the RESNET system so if I was to work with them , and get their listing, I had to pay the fee.  Besides the membership fee, all listings either had a referral fee or a reduced commission so once I figured out that I could spend my time and money on regular real estate and make more money with less frustration I gave it up. I have not regretted it one single time.

You tell me. Has there been any return on this investment?

Um, you really need an opinoin on this or are you looking for validation that you've already wasted $700 and sure, go ahead and do it again?

Doesn't sound like a wise investment to me.

Interesting.   I'm sorry you have this experience.  It sounds like an expensive YET valuable lesson.   

So has the seller list the home with you?  If so, then it's already yours and you have paid their subscription. I don't know what else they want. Even if seller has not listed with you, the lead was already sent to you.  You have seller's number and address.

Sounds like they ripped you off and are attempting to compound it.

Are they really a part of your listing agreement with your client? 

• Most of these are just between the broker and the client. 
• They should have no power once the listing has been secured.

Have your brokers attny educate them.

I am sorry you got sucked into that web of real estate "prostitution" of agents.  Take the lesson and move on.  Let them take the listing and put it where the sun does not shine. 

I don't understand how you'll lose the listing.  If  your seller wants to keep you, and your listing agreement allows... how can they interfere??

Run hustle, skidaddle as fast as you can. Never pay to play their game.  

   I don't understand that site.   Was it your REO, or their REO?  

Never been a fan of "services" like this. To me, I feel they are in the business of selling agents junk. I was with a broke before that signed up with something similar, and they "leads" were horrible and they had to have been buying information from Equifax or somewhere similar.

Addios res.net. You won't be missed.

Pat,

I think would have been better served by using that $700 in generating your own leads.  And no, it is not acceptable to to pay more ib my opinion.  A

So to keep your listing you have to stay a paid member?  Sounds like it's time to say goodbye! 

Sounds like you are being held hostage. Good for others to know about just in case. Sorry this has happened to you!!

cut your losses.

So you paid $700 for a listing that didn't sell.  Did you get that listing on day 1 or day 179?  Not sure how they can control if the seller keeps you on or not.  What does your LISTING AGREEMENT say?

Is the house priced well?  Will it sell?  How much will you make off of it?

If the house is priced right and ready to sell and they snuck some screwy clause into the listing agreement that tells the seller what to do and you've had the listing for a short time and can make 5 figures on the sale and can guarantee it'll be closed w/in 6 months... I'd pony up the $700 (or the $325 if you keep the listing) close the sale and then tell them to go fly a kite!

If any of those are "No", I'd run for the hills and take the lesson learned of Don't buy leads.  If RES.net is the seller, not much you can do.  If a regular person is the seller, RES.net may not be able to pull the listing from you if you have time on your contract.  Check with a lawyer on that one.

there are far better ways to use your energy and skill.......

Learn from you mistake.

Sorry I don't understand how you lose the listing.

Sooner the better!

As Barbara Todaro wrote.  Heck for that price I will give you 10 leads!

Barbara Todaro has your answer....

HERE IS THE PROBLEM - You do not get listings because you subscribe to res.net. It can happen, but if 1 a year is rare. You get bank owned listings by earning them, most often doing bpos, doing them quick, correct and showing your experience of REO through your bpos. The problem is that yes, you need to be subscribed to res.net to get listings from the banks/asset management companies that use it. BUT res.net is not the only game in town. I use 2 other platforms for REO listings that other banks and asset management companies use. Their fees are much less, but there is always fees in REO. You have to decide if you are going to go get listings and make it worth while. Or you will wait for them to come and as you see get 1 a year. I get 2-3 a month on average these days, down from the boom reo days but still good to get. I complete at least 2 bpos a day every day. I have to make time to keep the reo listings coming. Any new REO agent should know, most banks already have their favorites who are doing a good job so getting a listing for the first time will be really hard these days, not impossible, but you do have to earn it, nothing is just given out

That's what happens when you buy these kinds of leads... did you read the contract you signed super carefully. They may just have you over the barrell.

Ryan Huggins - Thousand Oaks, CA nailed this one!

Unbelievable! Dump them and find your own listings - don't let them hold you hostage!

Should never had bought into any kiond of pay for lead deal

Sorry, have not ever paid for leads, and never will.   Money out the window!  

sounds like a rip off to me. 

Was it worth it for you?

I have an agent who has been with them for 19 years.  She gets about 20 listings annually via them and it's well worth the $700 fee she pays annually.  Of course she was an REO agent long before it was popular 10 years ago.  And many of her asset managers use res.net 

I was not familiar with this company and no one from my brokerage has used them as well.  Interesting comments from everyone.

Sorry you wasted your hard earned money, don't look back, just move on do not pay them another penny or any company that promises you leads in the future. Spend your money on marketing.
If you want to get into REO business, start doing BPO's for reputable companies, remember, there are no promises but they will get used to seeing your name on the reports.

Cut your losses and run!

Pat Mueller I think you have gotten a better ROI elsewhere.

Do not throw more good money after bad. 

I did a few years back and had the same results. I stopped and the subscription, and moved on.

Barbara Todaro is right. That is a big hole in your purse and a poor ROI.

That's an expensive lead and I think your moeny could be better spent somewhere else.

You have a valid contract with that seller not with res.net. I'd tell them to shove it. They don't have a leg to stand on in my state.

Opinion?  RUN!  Spend your hard earned $$ on more effective ways of generating future income.   It's interesting that many of us throw money at strangers but don't invest much in relationships right in front of us....  Take someone to coffee, book a lunch, schedule a dinner, host a client appreciation event...  & embrace Barbara Todaro's tried and true marketing initiatives.  

Crooks!

Remember the definition of insanity.

Good luck.

It depends what the commission on that one single listing. Will it be enough to cover your investment in them+ marketing+ IRS and get some money home?