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.
Stephen, I am going to jump back in.
OK you're on Red Book. Point: We can't afford that if we keep paying out $295 here and there. On the other hand you can afford it if you continue to collect money from agents (that get nothing in return) and HOLD it for 1 year!!! That is a huge gamble you're asking. Give us your money for 1 year and if you have not received work.... you get your money back. MEANTIME... you give out a few BPOs that seem to be going NOWHERE... as far as getting a listing or a few listings. This is the point.
What if you go bankrupt in a year. Money lost
What if you give out 1-2 BPOs in a year. Money lost (at least $200)
What if you give out a "few" REOs? for most Money lost
People can put their money in the bank, gain interest for 1 year. No money lost!
You and your company had to have figured that there would be PUSH back when you came up with this idea! If not, why not? In business you always should think it out from pros to cons. What you have here is a con... people are just not buying your game.
If it were me, I'd just start over. Refund the money you have collected and come back with a brand new hat on... one that will fit your audience. If you promise something do it. Putting a 1 year wait or holding time is what is making this look so bad, especially since you came to us as if you had something to offer and from what I am reading.... you still have not produced as promised.
And yes, you will get comments from those of us that were seriously thinking about joining your organization, you will get comments that you won't like from those that did sign up and pay and you will do better if you stop this madness. Be upfront, your business is NOT off the ground yet. You appear to be using the money you collect to keep yourself and company floating along and gosh.... Red Book is expensive. Who paid for it is the question.
AbsoluteREO is definitely a misleading name. The only Absolute thing about this is that paying $295 is a gamble at the least.
Stephen, I misunderstood about Red Book.
And you are correct, I do not know the status of your company. It was just an assumption or a way of saying, it appears that you are just starting up.
The agents that are thinking this through did what I did. Did a search on your company, searched for forum such as this one to see what other agents are saying -- and this is why comments are coming in. I know to me, it was so exciting to get a personal invite from you the minute I signed on to REOpro to join your company. No mention of fee.
Once I put all my information on your site, then WAM... the fee page! I have to tell you (again), I was pissed! I do not like putting my information out without knowing what I am getting into. Had I see the fee upfront... I would have either decided to register or not -- depending on my cash flow. Now I feel you have my information.... to do as you chose.
And as a correction... all these comments are not just from those of us that did not pay. And on this type of forum, it does not matter if these are active members of your company or not. Its an open forum.
I suggested way back that you work with the Radio blog and get a spot on their and put all these concerns to rest. You viewed that as defending your company... and I feel if you want business you will do what others have done and work with Jesse in getting some time to address this body on your business. Not in defensive mode but in "for those that are interested" in your company mode.
Or we may as well close up this discussion because it is not helping your company to keep getting negative concerns from either those that are thinking about joining you or from those that have taken the dive.
Sometimes I wonder if "since it is always just (1) bpo" that maybe they are fake bpo's to let you think your in the loop. All they would have to do is have you do some driveby and do a bpo and they pay you from the $295 they just received from you, just a thought
That same thought has crossed my mind......When a BPO blast is not generated and a personal call goes to the agent to do a BPO and no other one comes in until renewal time. Then one should start getting suspicious.
Again!!!! Who are these mystery agents with this work? Why is it SUCH A
PS. I have read several posts and have found several that have signed up that are not happy, that is not an incentive for me to sign up.
Gosh! I came back to see if there was a more positive swing on this company. Listen, there is a whole list of companies on the Reality Pilot system and most do not charge. All do BPOs and some of those companies are REO driven too. Check them out and if you run into one that ask you to pay.... Think about it first, if you do that you probably will NOT pay a high fee to gamble on getting work. That is what I am doing.
Their is so much frustration from agents out there. They have been burned by many pay companies which I dont want to mention any names, Asset Managing Services(AMS4REO). This is one of the great things about this great site that Jesse has put together. Agents can out companies and people that do take advantage of agents willing to pay to play. Hard working agents looking for a break to be part of REO business. Attending many conferences, attaining many designations, filling out countless applications. All for nothing. They never get the chance to get to bat. Hopefully this company is different.
Hi Stephen, I sent you another message today, I now you are spend a lot of time here, and I know my asset managers don't have the time to be here soliciting business because they are very busy with their properties.
I am waiting for the assignments that you promise and since you keep trying to add agents that means that you have lots of inventory to give all the agents that you keep soliciting in this forum.
To REOPRO Members: If you have received or receive in the future a REO Assignment from Absolute REO, please go the Absolute REO Group here on our REOPRO Website and let everybody know. That Group is just for listing all the REO Listings, not to complain. Disclosure: I am not affiliated in anyway with Absolute, I'm just a regular REO Broker in Tampa area and I have not joined Absolute REO yet.
Gary D. Stewart
Absolute REO Solutions
contacted me after I emailed and left a message on this site.
"What I told you is that we are expanding into the area. We are in negotiations with several banks in the area and are hoping to close them fairly soon. We have also just contracted with a large investment group that will be another source for business. This should all come to fruition in the next 90 days. Should you not receive any listings after 12 months you can request a refund. I don't see any issues with you getting listings from us. It will just require a little more patience." This is NOT what I was told. I was told there was a Cleveland,Ohio agent with listings. being that the calls come while you are working, stupid me for not jumping on your site to see if there really was an agent in Cleveland,Oh . Nope found out later no agent in all of Ohio.
I had several calls from them also the more I turned them down the more calls I got. I did not sign up thanks to all the helpful information on this site. Read back several pages few people have had any luck with Absolute.