RES.NET reviews on ActiveRain

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RES.NET

2.73 (15 reviews)

25520 Commercentre Drive. , Lake Forest , CA

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Product Details

Company

Category

Subcategory

Website

RES.NET

Technology Products

Transaction Management

www.res.net

Phone

Email

800-760-7036

support@res.net

Product Description

RES.NET, a wholly subsidiary of USRES, an REO asset management and valuation firm, provides technology portals integrating every participant of a real estate transaction, including servicers, brokers, vendors, homeowners and buyers. The customizable portals have unique rule sets for communication and close the typical communication gaps among separate parties in a real estate transaction. The portals automate workflow and allow all participants to complete tasks and share information and documents in real time. In addition to dramatically streamlining processes, RES.NET portals create audit trails and generate reports that are crucial for auditing and compliance purposes.

MICHAEL MCCORMACK Contact User

Real Estate Agent 1 Review

Ocala, FL 0 % Positive Feedback

$700 paid - no business - no reo's - complete waste of money....

Submitted on 05/04/2023

It has been almost a year since I paid $700 to join res.net - I was willing to do BPO'S for Free - I was willing to travel for listings or do whatever training they wanted me to. I was told by the salesman that I was the only one in my zip code in this part of Florida & it most likely would be me chosen for any REO'S i... See More

This review has not yet been rated

Praful Thakkar Contact User

Real Estate Agent 827 Reviews

Burlington, MA 53 % Positive Feedback

Good Solution for Meetings

Submitted on 09/21/2017

Good solution for meetings, it seems. They are there since 2003 - and since they are still around in 2017 means a lot for an online company that provides the service to the consumers. As per their site description - RES.NET has been providing a virtual meeting place where Servicers, Agents, Vendors, and Consumers can ... See More

This review has not yet been rated

Tony and Suzanne Marriott, Associate Brokers Contact User

Real Estate Agent 671 Reviews

Scottsdale, AZ 74 % Positive Feedback

Expensive Pay To Play

Submitted on 10/12/2016

Self described as "Simply put, RES.NET represents stability. We are not a new startup company that is trying to get bought out at some insanely overvalued price. We have been in business for over two decades. We existed before, during, and after a great recession that was centered around the real estate industry. We ha... See More

100.00 % thought this review was helpful

Sam Shueh Contact User

Real Estate Agent 74 Reviews

San Jose, CA 88 % Positive Feedback

Rest net is not meant for everyone

Submitted on 05/14/2016

This is the ideal platform for tracking projects mostly from lenders. BPO-broker price opinion, inspection report, as well as listing assignment. To sign it up and take notice from lender one has to pay $695 annual fee. If you get the listing that is fine. Most don't. This another way to throw online marketing mone... See More

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Ann Gionta Contact User

Real Estate Broker/Owner 1 Review

Trinity, FL 0 % Positive Feedback

Stay away from Res.net!

Submitted on 02/29/2016

I joined Res.net back in Oct of 2014, agreeing to only a 1 year term to see how it would go and if I would benefit from it. I did all the things they told me to do to market myself toward asset managers so they would "pick me". I also did their BPO's, FOR FREE, because they said if you do, you are more likely to get RE... See More

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Sam Shueh Contact User

Real Estate Agent 74 Reviews

San Jose, CA 88 % Positive Feedback

Res.net is on its way out soon

Submitted on 05/26/2015

This in house developed software company initially established in 2003, has matured into a community for sellers and buyers to manage bank owned assets with a platform that became a platform. The initial annual membership of $295 and inflated to $700 a year. They also provide some certification training that most rea... See More

100.00 % thought this review was helpful

Cathy Conn Contact User

Real Estate Agent 1 Review

Topeka, KS 67 % Positive Feedback

RES.NET

Submitted on 11/28/2014

I already have this listing and the loan was just sold to Caliber Homes. They want me to take out a membership to RES.Net to upload my docs. Why would I want to pay $325 to share my docs with the bank? I can't for the life of me see that this would help me or the sellers in any way. Help! I don't think it's going ... See More

67.00 % thought this review was helpful

Sandra Page Contact User

Real Estate Agent 1 Review

100 % Positive Feedback

ResNet Excessive fees

Submitted on 11/01/2014

There are no pros . They hold your listings hostage until you agree to pay for the Pro Plus membership. I have an email I received from a sales rep last year stating the asset co's agreed to only use pro plus agents. Right before you're membership expires you receive new assignments, This is strange when you haven't re... See More

100.00 % thought this review was helpful

Jackie Hillen Contact User

Real Estate Agent 5 Reviews

Porterville, CA 100 % Positive Feedback

RES.NET - HORRIBLE!!

Submitted on 02/11/2014

Beware Agents – RES.NET – Horrible Platform and Customer Service As you are aware, Res.net is a platform for agents working with REO companies to submit their BPO, photos and other tasks. They’re a company that takes advantage of agents by requiring them to pay excessive annual fees. If you don’t pay the $700 PER YE... See More Beware Agents – RES.NET – Horrible Platform and Customer Service As you are aware, Res.net is a platform for agents working with REO companies to submit their BPO, photos and other tasks. They’re a company that takes advantage of agents by requiring them to pay excessive annual fees. If you don’t pay the $700 PER YEAR, you can’t accept the REO. Another frustrating thing about RES.NET is the fact that their platform is antiquated and takes a considerable amount of time to complete one simple task. It’s overall a horrible system. In my particular case, I live in a small town, with very few REO’s. I was in the middle of working on an REO when my annual membership came due. The commission for the REO was going to be $800 after expenses, and was about to close escrow, I had been working on it for the past few months. The RES.NET representative told me that I had to pay the $700 to continue working on the REO, but when escrow closed, all I had to do was contact RES.NET and they would return my money. Well, that’s not what happened. After escrow closed, RES.NET refused to refund my money – they told me that I only had a 15 day window to request a refund and was past the 15 days. I explained what their representative told me and they still refused to refund my money. I am now out the $700 and forced to accept another REO assignment to pay for the $700 that they refused to return. I had 3 tasks due and, surprise, surprise, their crappy platform was down and not expected back up for a “few days” as I was told. I was also told that I would need to contact my asset manager and explain why I needed them to extend my due date. For those of you that have dealt with Asset Managers, they don’t like to give extensions, and they don’t think highly of you when you do ask for them. I am now looking at 2 tasks due today, a week after the 3 days RES.NET was down, and I’m getting error messages again – again, I contact RES.NET only to be told the same thing.. This is ridiculous. They are holding my $700 hostage, their system does not allow me to get my work done in a timely manner, they are making me look bad by not allowing me to complete my tasks on time, and they still refuse to refund my money. Please BEWARE – do not pay for their system, they don’t exist to help agents; they really aren’t even helping REO companies. They are simply there to make money off agents that are forced to pay them in order to receive REO business. It would actually save REO companies money to get rid of them. Without RES.NET, my asset manager would receive the reports directly by email, and, ON TIME. It would also save asset managers time because they wouldn’t have to receive the numerous emails, stating that RES.NET is down and requesting a task date to be extended.. I believe RES.NET won’t refund money because they see REO business slowing down and agents won’t need them soon. Also, due to the decrease in REO business, they don’t care that their platform is antiquated. There is no reason to update a system that no one will be using soon. Agents – DON’T PAY RES.NET’s ANNUAL FEE. If enough of us STOP PAYING and using RES.NET, we can hopefully get REO companies to stop using them as well. Equator doesn’t cost us $700 per year and has a much better platform – let’s recommend Equator, no cost to the agent, and a much better service to the REO company.

100.00 % thought this review was helpful

Thomas Davis Contact User

Real Estate Agent 1 Review

Arcadia, CA 100 % Positive Feedback

RES.NET

Submitted on 10/12/2013

Resnet was originally developed for use by REO agents to manage inventory assigned to them by banks and asset managers who subscribed to the system. It does that job suitably. Naturally, US RES (the original entity that developed the product) sold the first bill of goods to the lenders who were fast becoming overwhel... See More Resnet was originally developed for use by REO agents to manage inventory assigned to them by banks and asset managers who subscribed to the system. It does that job suitably. Naturally, US RES (the original entity that developed the product) sold the first bill of goods to the lenders who were fast becoming overwhelmed with inventory in 2007-2008. The easy pitch was to pass on the cost of the system to the agents, who were required to subscribe if they wanted the distressed assignments. I had completed a handful of BPOs (no fee) and first began working on the platform when US RES received a partial transfer of an REO portfolio from a major lender. Since I had already been assigned some of these properties, I was able to maintain the listings provided I agreed to work with US RES at an initial cost of $295.00 a year. Commissions were reduced (US RES asset management team had to get paid somehow) and all communication was directed to my former client through US RES or resnet. As the REO cycle progressed to record inventories, more lenders enlisted resnet, including many third party AM companies. I continued to handle REO assignments pursuant to my contacts agreement with resnet. There are other platforms that succeeded in this climate, the largest presence being enjoyed by Equator (formerly REOTrans). Not to be outdone by Todd Mobraten at resnet, Equator would nail the agent PER transaction at $150.00 a pop instead of a subscription based membership. If you were fairly active, do the math. Both companies up sell continually by offering "certification", exclusive banner advertising, zip code coverage fees, training, etc. In the last couple of years, resnet has attempted to target the retail side of listing management by marketing their system as a sophisticated contact management platform. I suppose the goal here was to compete with the likes of Top Producer and keep their REO agent subscribers in the fold as the foreclosure cycle winds down. RESNET's premium platform runs $700.00 a year. That's just shy of $60.00 a month. Top Producer's CRM product runs $39.95, based on an annual contract. If you are looking for inventory/contact/task management, shop around and talk to ALOT of agents who are using the product you are looking at.

100.00 % thought this review was helpful