The foreclosure business has many companies calling themselves Asset Management firms or some other such moniker such as "registrant directories". To be registered, most of these businesses will ask you for your contacts and their details, including name, address, phone, email, etc. The reason they ask this is because they make substantial money off these contacts. They solicit the supplied contacts for BPOs, CMAs, trash out work, eviction assistance (a big income producer) and potential listings that could easily go to their favorite real estate broker even though he did not supply, or have the contact the business came from, but the registering Real Estate Professional did? How would you rate that process on a business scale? Good, Poor, Honest, or Down Right *&@*!@#)*&^%?

    Oh yes, don't forget liquidation sales, (selling foreclosures in blocks [they call them "bulk sales"] for the paid registrant's client. The paid registrant doesn't get one listings, or one dime, out of the sold block, but the "registrant directory" gets a healthy bunch).

    Of course there is also the issues of “Risk Mitigation and/or Local and State Regulation Compliance Management” they have a Professional REO Staff to handle, meaning lawyers. The lawyers get into the picture and make very good fees and you guessed it, the registered Real Estate Professional gets nothing from his supplied contact that was the foundation fee generator for the lawyers and the "registrant directory".

    Some "registrant directories" owners even have a group of investors they sell property to without using any of the Real Estate Professionals who paid to register and volunteered to freely give his contacts. These listings can be gained by the "registrant directory" using the volunteered contacts. The "registrant directories" gets a block listing from the owning bank and receives commissions for selling the properties. Again, is this fair play?

    Another tidbit of information, all that free work Real Estate Professionals do in anticipation of receiving a listing, these "registrant directory" people charge the owning bank fees for the work the registrant Real Estate Professional does and gets paid, but guess who doesn't? Guess who gets $40.00 for a BPO that took three hours to finish?

    The point is all, not part, or none, of the business should be the registered Real Estate Professional's not the "registrant directory's" because the Real Estate Professional gave them the contacts. Now look closely at the next paragraph to see how much this could very easily cost your business. This is money that could rightfully be yours.

    One of these "registrant directories" even publishes the registrant Real Estate Professional's contacts for the world to see. Is this called protecting the Real Estate Professional's business, operating in the best interest for the registrant and client privacy? Many just publish the supplied contact company name, but in the age of the Internet how hard is it to find out everything else?

    Of course any good Real Estate Professional can pay $91.80 monthly to enter "some" of the zip codes he covers, or pay yearly $250, or $395, or $495, or $995, or even $1,200.00 for entry into one or more of these so-called "registrant directories" where not one bank, or asset manager, has time to look up Real Estate Professional's name. Nor do these "registrant directories" go after worldwide business for the registrant like CountryMLS.net, Incorporated does every day for its members. Nor do "registrant directories" provide the Real Estate Professional a local, national and international multiple listing service, or a "no charge/no fee" referral system (these registry people get a healthy chunk of each and every sold listing that transpires, some as much as 1.5% on a 5% listing), or any of the other benefits given by CountryMLS.net, Incorporated. Here's kind of a P.S. all of the listings the "registrant directories" generate don't always go to their registrant Real Estate Professional whom supplied the originating contact.

    CountryMLS.net, Incorporated is not admonishing you not to do business with these people, just look at them closely and count the costs. You can get some business from some of them (not all), which can cover your costs and the unjust practices. What is being said here is, don’t be disappointed if you discover you were “overlooked” for some business that you should have rightfully had, if an only if you are making a profit.

    In passing, here is a fact about the contacts CountryMLS.net, Incorporated provides members: these managers have their own direct contact private list of Real Estate Professional Certified REO Specialists. Managers do not have time to go looking for someone they know nothing about on a dozen difficult to maneuver Internet "registrant directories". All those "registrant directories" are a nuisance for them to keep track of. They want the people that stay in front of them and do them a good job. Asset managers have hundreds of defaulted properties on their desk covering several states and don't have time to surf the web much less register themselves with all those "closed registrant directories" and associations. These managers know and respect CountryMLS.net and welcome CountryMLS.net, Incorporated telling them about our members and their unsurpassable qualifications. – A No Nonsense approach....

    The drawback is, as the Godfather would say: "It's strictly business Mikey". We cannot change the "registrant directories", but we can be wiser than a serpent and gentle as a dove. You can walk away with the money. Bottom line. All that is being said here is there is a cost of doing business. Just beware and be aware. Let's move on to something more pleasant like the good things at CountryMLS.net, Incorporated.