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I just received a call from a representative from Absolute REO Solutions. There is a $295 fee associated with their 'service'. Does anyone know if this is legit or if it's a scam? I'd hate to throw away nearly 300 bucks.

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Ask for a refund - if they don't give it to you threaten to report to the Illinois attorney general, and tell them you will have their charge reversed and tell them you will send all the bad press here and on BBB site to your cc company as proof!

 

This company is a scam. They called me and told me their clients were BofA and Wells Fargo. I happen to be in position to know that is total BS. If you paid this guys anything, get your money back by any means necessary. They have NO REO to assign to ANYONE. They are a scam.
Wells Fargo is primarily handled by Premiere Asset Services, I think..  Bank of America has about a half dozen companies they farm out some of their REO's to, and you're right, ABS is NOT one of them!
I joined in Dec 2010 - it's now July 2011 and not a thing from them.  I'm sending off an email to them today requesting that they start processing my refund.  Will let you know how it goes.
yes it is time to process the refund I will let you know what happens

Class action lawsuit anyone???

 

I got my money back!!!!   Anyone have experiences with usres.com?  They're not paying for BPO's but tell me that I can get listings for doing them - are they legit?

 

Now they are not paying for BPO's?

HMMM.....

hey linus, if you read about 30 of these posts you will realize its a scam, very well done one at that, google thier office and look at strret view, its a basment parkeing deck! love it! im working with chicago bbb and there are so many filings against them , that i have a hunch they wony be around very much longer, i would have rather spent my 295 on some good scotch! would have enjoyed it more than this. i would bet my 295, its overseas operation and the chicago office is front, i cancelled that credit card, i do not trust it at all, been in reo for 15 years, my fault i ddint research for 5 minutes beofre agreeing.
BBB won't do anything - Try the attorney general for this kind of fraud!
Linus, I believe there is a thread for USRES. I did receive listings.  4 to be exact. They all closed with 3 being nice re-assigns. HOWEVER, and coincidentally, the cost of the "complimentary" BPOs added up to my commission.  I did 104 and at 50.00 a pop, that's roughly 5200.00. My commission for the 4 closed REOs was just over 5K.  You DO have to add in that I was able to add 4 closed REOS with an average 62 DOM to my experience.  Some agents received a lot more listings for that amount of work.  I'm in heavily saturated area for real estate brokers.  Good luck.

I have. In the past I paid the fee, they directed me to their site to download all the REO document, it seemed on the level. I was told "I hope your a closer". I then received one bpo order that went to my spam, unbeknown-st to me.  I waited and waited for some communication from the asset manager they assigned to me(who was also the sales person on the phone), I assumed he would call me with properties to list. I received no call. Looking back I could have been more aggressive with them requesting business, but if they had the work, I assumed they would contact their members and assign work.  Towards the end of the term, I contacted them and stated " I have received no business from you". They sent out another BPO order,  The format was all askew (very home made), I completed it and was paid promptly. so I got $50 of $295 back. Its up to you, but if I had to do it over again I would have spent my money elsewhere. If your persistent with them it might work for you, Who knows.

Ps.

There was this thread in another forum, which I found after I joined, that brought to light and presented proof that they where actually a realty company and that's why people in Chicago did not receive any listings. food for thought. do a little research. Good Luck.

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