Ocwen REO Listing with no agent!!

By
Real Estate Agent with Realty Executives

I was gathering a list of properties to show to my new client yesterday and stumbled upon an Ocwen REO.  The listing broker is listed as Realty Outsourcing Solutions Inc and the office number for the listing office is a 1 800 number. 

I called to inquire if there were any offers in on the property and to find out more about the repairs mentioned in the listing remarks. 

I called the number and got someone from India.  I could barely understand him.  And the it was extremely frustrating and slow with the whole decorum and polite small talk these telemarketers always use.  In the end, I could not understand half the things he said and he could not understand my questions.  

After further review I see that in order to submit the offer you have to go directly to the Ocwen site and upload the offer there or send it to a 407 fax number which I believe is in Florida. 

After reviewing our tour for the day I decided to show other properties that better suited my client and we wrote three offers with one accepted today.  I'm grateful I didn't have to end up going through that whole process.  I'll keep an eye on that property to see if and when that home closes.  In my opinion Ocwen is just shooting themselves in the foot doing business this way. 

Posted by

Susan Manning

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Location:
California Riverside County
Groups:
Foreclosure Talk
REO
REO REALTORS
Southern California Real Estate Forum
The National REO Brokers Association
Tags:
bank owned listings inland empire
bank owned listings temecula
buyers
buyers market
market conditions

Comments 32 New Comment

Rainer
813
Texas Joe

I used to wonder how Altisource's vendors, on BPOs, were able to make a living out of it until I ran into a guy at the gas station who looked like a bum driving a car that didn't even look street legal (it was beat up with red transparent tape over the tail lights) he asked what I did for a living (I was in a nice car) and when I said I was a real estate agent he commented, "Oh yeah, me too".  After the double take I asked him what area he specialized in and he informed me that he had just "picked up" his license and he did BPOs for a living.  That gave me an idea of where Altisource, and many other banks, want us to be, like bums doing very poor work while they offshore to foreign countries our work on our land.  I really do not understand how they can outsource US listings to India because those banks received TARP money; I know I can do a better job, for less, than all the overhead involved with sending a job to India.  Secondly, how can I, or anyone, directly solicit the banks for these listings, ENOUGH of these lazy, ineffective middle men.

October 22, 2010 12:20 AM
Rainer
51,134
Susan Manning
Realty Executives

Texas Joe, wow, thanks for sharing your story!  Be American, Buy American, Do Business with Americans is what I think!!  Especially since its American real property!!  I think if more people knew what was going on there it might be a real eye opener.

October 22, 2010 02:22 PM
Anonymous #33
Anonymous
Cuyahoga County - Ohio

Please note OCWEN has created its own brokerage operation in many states and has more than enough realtors in other areas too. Hence we do not need REO agents any more. 

Thank you for your interest.

 

Thanks & Regards.

REO Dept.

The above message is from Ocwen's REO Dept.  Ocwen is has become nothing more than a bpo mill.   i don't think the business model is going ot be successful.  As more agents get wind of this information and stop doing bpos Ocwen will be forced to change.

December 29, 2010 06:01 AM
Anonymous #34
Anonymous
Pat Sleet

Check out Ocwen at ripoffreport.com and you will truly see who they are and what they cqn do. 

February 23, 2011 08:27 AM
Rainer
9,331
Justin Richards
Justin Richards, Broker

I can't stand Ocwen! And after years of avoiding them, now Saxon REO has sold their portfolio to.....urghh.... Ocwen!! Check out this article:

http://agentacceleration.com/saxon-moves-their-reos-to-ocwen-bad-decision/

May 16, 2011 09:03 PM
Rainer
51,134

Susan Manning

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