Titanium Solutions

I joined this company as a "HRC" with the intention of establishing myself with them in order to obtain some of their REO business.  The problem is that they have no REO business!  The "leads" are to contact homeowners on their behalf, most of whom have abandoned their homes long ago, with no forwarding address.  In order to "complete" an assignment, the HRC (realtor) must make 3 face to face attempts - 2 of which must be after 5pm or on weekends...........you can see how well that works!  The maximum payment IF the homeowner agrees to complete the assignement with you, is $55 - most of tiem time, you receive minimum payment of $20 - I have found that the assignments that Titanium receives from their clients are those that are all but impossible to complete.They are very proactive at soliciting their HRC's for short sale business for their short sale department.  But they are unable to provide the anticipated REO business.  Hope that helps!

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Permalink Reply by Jeff Payne on May 31, 2011 at 9:42am

$55 does not look like a productive use of a real estate agents time. 

Permalink Reply by Keji Ogunleye on June 1, 2011 at 5:14am
Doing BPO is way better than titanium.. but like everything else they will get agents  even for $10...
Permalink Reply by Edward Codelia on June 1, 2011 at 10:09am
You will see no REO business. What you need to do is see about listing the assignments as shortsales.
Permalink Reply by Jeff Payne on June 3, 2011 at 5:13am
I signed up with Titanium several years ago and found myself chasing my tail.  I really dont remember much about their process.  Question I have is this... If I get an assignment and the homeowner is not listed already, does TS encourage the agent to get the house on the market?  Do they allow you to solicit the borrower for a listing?  If that were the case it may be worth joining if there are enough assingments, might be good for a listing pipeline.  Other than that, a few dollars here and there does not fit into my business plan.  I would rather sell properties and make several thousand on a deal instead of chasing a delinquent borrower all over the place for $55
Permalink Reply by Trina Gonzales on June 3, 2011 at 7:52am
I agree with you Terrie.  Are they assigning REO's in your state?  They aren't in California and they never even had REO assignments to hand out.  They started in my state by assigning BPO's a couple of years ago.  Now they don't.  I still do the assignments every now and then.  I treat the assignment as an opportunity to help a homeowner keep their home if possible or... list a shortsale.  I don't refer back to Titanium for negotiation either. I do it myself.  Maybe you should try that approach.  Think of it as leads that pay for themselves.  smiles...
Permalink Reply by Bryant Tutas on June 5, 2011 at 12:43am
I'm going to put this out in the newsletter today to see what kind of responses we get about Titanium Solutions. I hear they also offer short sale negotiation services for agents.
Permalink Reply by Evelyn Santiago on June 5, 2011 at 2:25am

I have worked for them for years.  I did use them once for short sales negotiation and unfortunately they took so long my seller did a BK without informing me or anyone else.  I have not used them for short sale negotiations.  No REO business as far as I know - only had one listing off the "homevisits".  Even when I did submit paperwork on one client the paperwork was not sufficient to meet their needs so I did not get paid the full amount.  I still do them on ocassion but have narrowed down my zip codes.  Yes, it can be hard to get people to answer doors.  Most of the people are very nice although I have had some scream and threaten to call police so it can get dicey on ocassion.  They do not want you soliciting them for short sale listings nor leaving your own real estate card with them.  You represent Titanium but you can tell them you are are realtor since that is why Titanium uses us. 

 

Not for everyone - pay is ...not much but you do get to tell homeowners that there are other options besides foreclosure.  Unfortunately, the homeowners will then have to deal with the servicer and we all know how wonderful that can be.

 

I rather do my own short sale negotiations - not too happy even using the attorney's I have used and am using so rather take my chances and do them myself.

Permalink Reply by Annette Whitehead on June 5, 2011 at 2:43am
I tried working for them a few years ago. It never resulted in a listing but I spent lots of time tracking folks down. Even when I met with homeowners, if they didn't complete the worksheet it was a waste of time. Since you have to identify yourself as a member of Titanium, they automatically mistrust you. Also, when the property goes to foreclosure, you won't get the listing. Total waste of time, in my opinion. Also unsafe in a few instances. I believe in trying new things to get business, so I tried it. Now I know better...lol!
Permalink Reply by Nate Gerard on June 5, 2011 at 2:49am

When I was part time (2008) it was decent. The pay was better and more people hadn't made up their minds about their direction. As time went on, the pay decreased, you also have to cut them in if you do end up listing it as a short sale, and when they began the REO department they didn't pick me as an agent so I severed my relationship with them.

By that time I was also full time so I decided lead generation was more fruitful than driving all over the place evenings and weekends. Sounds like even if they had accepted me as an REO agent, it may have given false hope especially since you need to pay to be a part of the online system they use for uploading documents. Good Luck!

 

Nate

Permalink Reply by Kimberley Kelly on June 5, 2011 at 3:04am
Ha-ha!!!  So, they are actually soliciting contact info for future Short Sales, right?  You do the work, find the homeowners still in residence or who will respond to you (for $20???!!!), then they get a potential Short Sale?  Good Grief..the imagination and I have to say..good for them if they can get ANYONE to work like this for $20.  Time is money, right??
Permalink Reply by John E. Baldovin on June 5, 2011 at 3:45am
what I found with Titanium was after 2 years the assignments got fewer and the money less and the demands greater, I told them what they could do with their assignments after last decrease in amount paid. and the drive by BPO's where a joke. I recieve a lot more money from other companys with less work.
Permalink Reply by Jasmine Jackson on June 5, 2011 at 3:58am
I agree with Annette Whitehead, TS is a total waste of time, especially given gas prices these days. I stopped after a few months of chasing homeowners with no favorable results for anyone involved. It surprises me they're still in business.

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