I have been with them for about 5 months now and haven't received a thing. I paid the fee upfront thinking this might be a good thing. It's not too big of a loss if nothing happens. I am in So Cal and they don't seem to have a lot down here. Am I wrong?
I did checked out ABSREO website. It definitely looks pretty good including the documents. I also looked at their listing properties in my area in Aptos, San Jose, Saratoga and Los Gatos of Northern California. It shows one particular agent had all of the listings, except for one as the listing agent in my area - Listed in July 2009. I contacted her and asked her what she knew about ABSREO, and her connection with them. Reason I contacted her is because I checked out the MLS on those properties - all 15 of them. They were listed by other agents as traditional, short sale and REO. One had a REO Team. They closed the transactions in August and September of 2009. The properties were listed in July 2009 on the MLS. Just did not make sense. .... The information on ABSREO.com website are incorrect. The listing agent whose name that were on their website don't know anything about the listings. She said she paid the $295 fee about 9 months ago and has not gotten anything.
I emailed Michael Kolar / firstname.lastname@example.org and CC to Steve D. Johnson / email@example.com (Steve is a member of REOPRO and owner of the domain name - http://www.networksolutions.com/whois-search/absreo.com) and Anthony Berg / firstname.lastname@example.org. I mentioned about their false information on their website. Michael responded with "The Listings on our website are submitted by our agent/broker members, we don't maintain that. It is asked of our members to maintain that portion. Those listings can be Traditional , Short sales or REO's." …. I don’t know how good is that statement, but why would any of those listing agents put another agent from a different office as the listing agent? I don’t know what Asset Manager would allow this. Almost all are under one agent in my area. So what does this tells you? It tells me "Hello! They don’t really have any listings in my area. Just there to look good".
Have any of you who joined, checked out the listings on their website? Is it good information that matches your MLS? …. Give us some feed back.
My Thanks go out to all of you who have responded. I was called today with regard to my application and after a discussion he ended with the tag line all we have to do to get you set up is collect your 299.00 fee. I did not give him my card number. I asked for references. He would not give me any references and stated that they have confidentially agreements with all their agents and cannot give out that information. I have paid a lot of money over the years for similar arrangements and they always leave me with less of my money and no business.
That right there should be enough to keep at least the members on this forum off. There is another forum that has nothing but bad things to say about this company, in fact one member in Illinois did a background check because they post their address and found some criminal stuff about the owner. Stay away!
Got a call from Stephen Johnson on Tuesday around 5:40 PST. He said the asset manager that was assigned to me was let go because he was so unorganized and that he was taking over. He said "I guarantee you will have some assignments before the end of the year". He said they needed me to fill out the master servicing agreement. I had already done this when I first signed up. I went ahead and did it again. We'll see what happens. Keep you all posted.
I too received an invitation to join, but have not yet although I was "approved" on the website. I have asked numerous other agents and can find no one who has gotten any listings from Absolute. I have received almost 99% of my REO listings from Asset Managers who have found me on RESNET. I think I will stick with this since I have already paid the fee.
Hey all! I have been with them for since July. I just received my first BPO and it will probanly become an REO. Price should be around 500K. Well worth the $295. I took a chance and I think it will pay off. I will keep you all posted!
When deciding which BPO companies to apply to for REO listings, I find these forums to be the best source of feedback. Activerain is also another good source of feedback on BPO companies. As you are seeking REO listings, please be aware that some asset managers can require you to also pay and join RESNET if you are not already a member in order to receive listings from them. USRES is a good example: they require agents to perform BPOs for free, with the possibility of getting the listing. I was skeptical about performing "free" BPOs however, I have received several listings from them, but they also require the agent to pay a membership fee to RESNET in order to list any REO as this is the platform that the agent manages their REO properties through. I have been doing assignments for Titanium for over a year now and they have recently announced the formation of a BPO division and as part of the application for signing on with them to do BPOs they required that I also be a member of RESNET. What I am saying is to check diligently and put your money where it will result in the most REOs as that is your ultimate goal. If Absolute REO has an abundance of listings in your area, this may work best for you.