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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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This afternoon I received a call from Aaron, explaining that the Linked In profile hadn't been updated. Now I can't speak for ABS's product or the frequency of disbursing, but I can say that thru my experience the "fly by night outfits" don't care enough to call and correct any wrong presumptions. From this call alone, I really do believe that ABS plans on being around, and when the opportunity permits they will meet any obligations they've committed too. No, I still haven't signed on as of today-but think this will be a company I keep watch out for in order to throw my hat in before their fees increase to much. Aaron again, thanks for the call.
Anyone have any positive new information concerning Absolute REO? I received a call on Saturday from Stephen Johnson and he is going to call me back on Monday. I found this blog while checking on them before I speak with Stephen.
John R. Wilson,
Carolina One Real Estate
I was very happy to receive an invitation from them, but then I realized that everytime someone signs in, they get the email invitation. After that they will tell you to register online and you will be so excited to know someone has recognized your hardwork, experience and integrity. They send you a link - Once you enter your information, email, etc. You will receive another phone call. This one would be the sales pitch about their experience, guarantee and of course $295.00 - I was sold on the promise that I would be receiving REO;s and Bpos starting December 2009, and there was no referral fee but they would take care of property maintenance - but so far nothing has happened.

Summary: For what I heard - They are new, forming their group, charging their fees - giving nothing on return -
promising a refund, and hopefully working very hard to succeed in REO. Im not happy that once again I paid on promises - Congratulations you are doing your job. Find out more info and request some PROOF and references, that way we can clear the bad image for this company or request our refund... What a task!

To your success!
Thanks Magda,
Obviously, we are all grabbing at any opportunity to improve our business and I was hoping that someone would jump out of the woodwork and have a positive story to share about this company. It does sound like they are trying to break into the REO business but in their promotion they infer that they are very experienced. They need to build up lender client base before they start selling their services. I cannot afford to pay for promises of business down the road. I need results now.
Once again, I do appreciate your input.
With kind regards,
I also received a call on yesterday from a Representative from REO Solutions. The script that the representative was reading from was inviting and really sounded sincere, but then came the $295 sales pitch. She said the Asset Manager was really impressed with my resume and background. The script went as follows: The Assignments are based on zip codes, no more than 3 Agents at one time are assigned to the primary zip codes, secondary zip codes can be changed at anytime, Listing Assignments on a rotating basis, no referral fees, no commissions will be changed, they are working with about 600 banks, she can have a BPO sent out to me in 24-48 hours providing the $295 is given either online or over the phone. Better Business do give Absolute REO an A Rating and they have had only 1 complaint so far. I have read other comments from other Forums and based on those negative comments i will not sign up with this company. I sent (2) emails to Stephen D. Johnson and he has not responded to either one.
Very impressed with Absolute REO!!! Joined them and got my first BPO within 24 hours. Hopefully will get more :)
I don't know whether it is a scam or not, but read the previous comments on this site from other agents. While I may have missed one, I did not see any favorable comments concerning Absolute REO Solutions. Many agents commented on this subject. I considered joining, but opted not to (even before I found out how much they are charging). It would be worth it if you got some REOs from it, but several agents who did sign up and pay say that they got nothing from it. Look back through the comments, they speak for themselves.
Ok Stephen….where do you go from here? You gotta understand these are valid points and going back through the comments I see a mix of concerns but also many hopefuls who have spent their money with you. Geesh…this has been going on for months! And only one comment on receiving one BPO. Your company did an outstanding marketing job with your e-mail campaign and follow up scripts for phone sign-ups, I too enjoyed hearing someone on the other end of the phone telling me how impressive my resume was and what a great addition I would make to the team…..I believe her name her name was Amanda…….She talked the money right out of my wallet! (I hate when that happens). I had actually forgotten that I had signed up months ago and the last time I had any communication with your company was at sign up.

Now, Where do you go from here? Is your company aggressively pursuing and securing more asset companies and BPO companies? Is there anything you can let the 3700 members of REO Pro know that will help them understand the value of what you get for the $295. Your comment “why not sign up and find out for yourself” kinda like “jump off a roof and see if it hurts” That was a little strange considering the content of this forum, maybe you should be talking as to how you are delivering on your promise.

I am far from a “nay sayer” and would love to see a young, creative new company do well and I did spend my money with you but c’mon…..give us something to work with here.
Stephen-I too got a call from one of your reps. She was very professional and told me all about the program and on the surface it looks good. At the present time I'm on hold as well though. However, being "defensive" as you say, raises doubts not so much that you have "untoward" intentions, as much as the picture painted is not quite the picture itself.


All you have to do is provide a complete list of all the listings that {agents} have gotten from your site along with contact information. You have thousands of us wanting to sign up so...
I would welcome some POSITIVE feedback from satisfied clients of Absolute REO Solutions. Stephen, If you would provide some references for your company, it would help you get agents aboard. I would possibly have joined, but the overwhelming feedback from agents has been negative. I think most agents need more REO listing referrals, and if you show where you are producing them, people would rush to sign up.
I am a new subscriber to REOPRO. Immediately a solictation email popped in for needing a broker for a REO in one of my counties. I also filled out the application and received a phone call and a description of what this company does. Just prior to this I found this discussion and read everything here. When the phone call came in I had questions and they answered them all well and then told me that they had a BPO to be done immediately but I had to send them the $295.00 first. I do not usually pay for BPO's and normally do not do BPO's as all I do is REO's. My question to them was, "Would this BPO turn into a REO?" The response was that 30 to 40% of BPO's turn into REO's. I also found 4 other agents in my area that belonged to this site. I checked their listings and very few of their listings were REO's. This is a red flag as all my listings are REO's with two REO's closed this past week. I have a shortage of new listings [four listings in the clean up and pre-marketing stage currently] and so was interested in obtaining any new business. After reading all your messages I remain 10 arms length away from this company. Many companies have come onto the market recently offerring designations, promising REO's and many short sale classes are available for the new person to learn. But please ask the questions for some of us who has been in the foreclosures market for 15 plus years to wade through all the hype and to hopefully save someone for falling into a possible trap. Absolute will be calling me back on Monday and my answer to them is 'NO THANKS.'

Don Hascall Broker
Dre # 01044242 search under 96003 zip code
I signed up with them maybe 3mos ago; still no listings. I paid my $295.00 Was told I would be surprised if i didn't get a listing within 2-3mo. time. Still waiting...hoping for the best. I will post comments as updates come in. I hope its not a waste of $$$.


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