Here are some answered to Frequently Asked Questions about the Nationwide REO Network:
Click on any question below for detailed information.
What does REO mean?
The initials REO stand for real estate owned properties, other names for these types of properties include bank owned or bank foreclosures. These are properties already foreclosed by the bank and are ready for public offers and purchase.
Where does the Nationwide REO Network fit into the picture?
Our network connects buyers and investors with pre-screened qualified REO brokers and agents as well as service providers and vendors. Members of NREON can connect with other members to locate REO properties for sale, make offers and purchase properties right from our site. Becoming a member and using our member services is a way to guarantee that you are working with experienced brokers and agents who are qualified in dealing with REO properties.
Why should I join the Nationwide REO Network?
By joining our elite network of pre-screened brokers or agents you will be recognized as a qualified REO expert in your area! You can also add and edit any of your listings to the site including pre foreclosures. This will give you an opportunity to let buyers and investors see your REO properties and make offers directly to you. This is a valuable tool for asset managers to see that you market the properties on the internet from day one and get them in front of buyers and investors looking for REO properties. Buyers or investors can view all current listings from our site for FREE and see these listings as soon as they are listed since they are updated regularly by our network of brokers.
Who can join the Nationwide REO Network?
We are pleased to offer membership for buyers and investors, brokers and agents, and REO service providers and vendors. However to keep this membership elite and to assure that we have top quality people we limit it to ten (10) pre-screened brokers and agents and ten (10) pre-screened vendors per city. Each member can choose up to fifty (50) cities per membership and will be listed not only in their selected cities, but also within all the zip codes in those cities! Buyer and investor memberships are unlimited for how many can sign up and on how many searches they can do anytime for FREE!
Does is cost anything to become a member?
Membership for buyers and investors is free! This allows anyone who is interested in looking to purchase or invest in REO and or bank owned properties the ability to search unlimited times and find REO properties that have just been listed for sale through our network members. You can be sure that any of the NREON members - including brokers, agents and vendors - will have experience in REO properties in their areas and have already been pre-screened for quality of service. You can also save your favorite properties using our online control panel so you can go back later to reference them. You can contact our network of brokers and service providers directly through the web site and have them send you FREE updates via email as properties become available in your area that meet your search criteria giving you the first chance to see them and make an offer through a qualified agent.
Is there a cost for brokers and agents to join?
Broker and agent memberships are available at two rates. Premier Membership is $695 per year and gives you the top spot in your selected cities (up to fifty) and all the zip codes in those cities! Standard Membership is $495 per year and assures that you will be one of only ten (10) brokers or agents in your selected cities and zip codes. We do limit it to ten (10) brokers or agents per city and your cost includes all zip codes in your cities. We prescreen our broker and agent members, including references, to ensure that our referral network contains only experienced and qualified REO brokers and agents. Membership is an annual fee and will have to be renewed each year. However for a limited time, the first 1000 brokers or agents who sign up will become NREON Lifetime Members!! These special members will not have to renew their membership making it a one-time fee for our first 1000 members! Hurry and check to see if your areas are available now before they are taken by your competitors!
What is the cost for service providers and vendors to join?
Membership for vendors and service providers is $495 per year which includes up to fifty (50) cities and all zip codes in those cities. We do however limit it to ten (10) of each type of service provider per city. Just like our brokers and agents, we are selective about the vendors and service providers who are approved to become part of the network. NREON service providers range from real estate services such as title and escrow to appraisal and Home Staging, it also includes maintenance and preservation services needed to refurbish the properties to saleable conditions. This is an annual fee and will have to be renewed each year. However for a limited time, the first 1000 service providers or vendors who sign up will become NREON Lifetime Members and will not have to renew their membership! These first 1000 members will only have to pay a one-time fee to be listed in their categories and cities of choice for life! Act now to be one of the elite NREON service providers in your area!!
How many leads, BPOs or service requests can members expect?
The Nationwide REO Network is not a lead generating tool. It is an opportunity to network with highly qualified REO professionals like yourself to trade both business ideas, recommendations and referrals. The NREON website provides opportunities for visitors to view properties, contact agents, request BPOs, request REO services and more - however this is only one function of this business network. We welcome insights and recommendations from our members on how the Network can be improved and moreover any business referrals any Network members can offer to each other!