Replies to This Discussion

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on August 8, 2012 at 8:32am

My understanding is this is a "secret deal" between BofA (DTS) and ReMax.

Permalink Reply by Alex Krumm on August 8, 2012 at 8:35am

ooo, I love secret deals :)

Permalink Reply by Troy Sage on August 8, 2012 at 11:49am

Alex,  I've been working with DTS for over a year now, and yes the system works.  DTS has partnered with BofA and they have an arrangement with BofA to pre-negotiate Co-Op Short Sales.   The process works pretty good.

I'm an independent broker and affiliated with ReMax, Keller Williams, or any other franchise.  So this is not an exclusive program for franchise agents.

Permalink Reply by Erik Reilly on August 9, 2012 at 1:16am

Alex,

I too have been working w DTS for about a year. You will get access to a portal that they will give you leads in. You will be expected to call and/or door knock a minimum of 3x each until you have a conversation w the homeowner. I listed 2 yesterday (that I have been working on for 4 and 8 months each). Takes time and patience. The tel#s you get...not great, as people in financial distress tend to hide (I think door knocking is much better). Pick zip codes in areas you are willing to door knock in.

 

Good luck

Permalink Reply by Troy Sage on August 9, 2012 at 3:42am

You are absolutely correct Erik.  The only thing I can add to that is DTS has a new BofA Co-Op qualification portal.  It allows agents to plug in the owners name and address, and within minutes the system tells you if the seller qualifies for the Co-Op program.  I've used the portal and it saves a ton of time.

If the homeowner qualifies for the Co-Op program, DTS will negotiate the file for you at no cost to the owner or the agent.  I've used this portal several times and am now in the position to receive 2 Co-Op approvals.  The system isn't perfect, but it will save you time.

Permalink Reply by Alex Krumm on August 9, 2012 at 1:54am

Thanks for the feedback... How many leads would you say you're receiving per zip code? Have you ever had a dts provided lead that boa rejected for a cooperative sale?

Permalink Reply by Erik Reilly on August 9, 2012 at 1:43pm

Each month i get from 4-12 leads although i got very few in the first few months of being in the program. I picked  many zip codes so as logic would dictate, the hardest hit zip codes have more leads. I had one that got rejected in Feb. as it had more in liens and judgements than was expected. My fault... I should have run title first. They offered borrower DIL, then this week i got a call from seller that they offered to ss again, this time w 5-30k incentive.

Permalink Reply by ElizabethWeintraub00697006LyonRE on August 10, 2012 at 4:02am

The DTS portal is a way for DTS to capture the Bank of America Cooperative and HAFA short sale leads that would otherwise be initiated in Equator and distributed among Bank of America's various third-party vendors. You gotta hand it to DTS for "creativity" among its competitors. Check out: https://agent.dignifiedtransitionsolutions.com/login

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on August 10, 2012 at 4:19am

DTS is owned and run by former BofA executives http://www.dignifiedtransitionsolutions.com/executives Although this is a "Private Company" it is really just a spin off of BofA.  You think DTS might have an inside advantage?