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.
It looks like they have been in business since 7/2009, not very long.Here is the link to the Better Business Bureau, there have been numerous complaints, http://www.bbb.org/chicago/business-reviews/financial-services/abso....
I believe this is a scam and would not send them a penny. I just got shafted by RESNET for $650 and am still stinging from that.
I got shafted last year on that Same amount. Citibank making us pay to do their REOs is a joke! The way the email reads, you HAVE to get the certificate to get more listings from them. I did it last year, and received NOTHING. I decided NOT to pay for that cert again, when I received an email stating I had to do the course AGAIN for 2010!
A man named Ron with ABSREO called me today from an Illinois phone number to ask me if I was interested in receiving some of their REO work and wanted to "interview" with me to get an idea of what my reo/bpo experience was in MD. After speaking for a while, he went on to say that they paid 100-120 "bananas" for interior BPOS and they wanted to work with me to provide service to their clients (servicers.) That was the first flag, no one pays that many bananas for interior bpos anymore. Then he mentioned that in order for me to start receiving work I would have to sign up with them for $295 to use their platform. Second flag. When I asked him if they did a lot of business in Maryland and if they already had lots of agents ahead of me his response was not convincing enough and immediatly asked me which credit card I wanted to use to get me started with the sign up process. Third flag. Then I asked him if I could sign up online because I don't discuss my cc info over the telephone and he acted offended saying that "I was the one who signed up with his company", for which I responded "yes, but you are the one asking me for money". Fourth flag. Then mysteriously the connection started breaking up and I could understand very little as he was saying "we will assign you an order as soon as possible if you sign up within the #$#% hrs". It wasn't clear to me if he was promising an REO listing right there on the spot. It wasn't until I insisted to repeat the last (broken up with static) sentence several times when he said that it was just a bpo that I will get right after I signed up. Fifth flag.
I am sick and tired of people trying to sell us a bunch of nothing to profit on agents' desperation to make a living.
Same Ron called me yesterday, after he had left several messages while I was on vacation last week. I filled out an app online, ABS acknowledged and said one of their managers would soon contact me. Well, he did. When I questioned how many listings ABS had currently in MA, he said they had 5, but, when I responded I had searched and found none he was a little lost at words.... And, then, he appeared annoyed with my questions and proceeded to ask to which c/c I was going to use.... I told him I needed to research it further and we ended it right there.... DO NOT send any money to this ABSREO, it smells "scam" all the way....
I also signed up with this company, and am EXTREMELY disappointed in them. I haven't received a SINGLE PROMISED LISTING. I only received the BPO Bone they throw out. The home was a Short Sale and soon after I did the BPO it went pending. NEVER got that listing. I'm NOT going to renew with this company again. They Promise and don't follow thru.
ABS REO Just tried a couple of times to auto renew my subscripton with their company via PayPal. Fortunatley it didn't go thru snice I haven't updated my PayPal account and they were trying to use a cancelled card #. That was SO Wrong!
Everyone needs to apply for an cancellation of there $295.00 at there one year period!
That is there warranty one year it says FULL REFUND AT THE END OF ONE YEAR!
Also, write to the BBB of that area ..They need to be put out of business.....!
I have already put in a complaint with the BBB regarding this company, and asked for a refund due to their fraudulent practices. I received an autoresponse to my email to them, and no one has contacted me since, like their email promised.
There is also no place on there website to either renew or cancel your subscription.
The handwriting is on the wall for these companies. We need to band together and stop paying for promises that don't come true.A year ago I was forced by Equity Pointe to pay $200 to REO Vendor Manager if I wanted a listing on a $55,000 property that I ended up getting a $1,000 commission on,so basically Reo Vendor Manager got 20% of my commission.Today I got the call from REOVendor Manager, 'Your subscription is expiring, if you don't renew you will not get anymore listings from Equity Pointe', I should be so lucky.Then Equity Pointe send me a bill for $75 for their technology fee. One of these days these asset managers will be using us as references on their job applications, that day will not come soon enough as far as I am concerned
I just received an email from them today. They are mailing me my refund. This is after two emails to them, and a complaint to the BBB. I'll be looking forward to my mail in the next couple of days, and hoping they follow thru with their promise.
I was about to sign up...and when I got to the PayPal page to fork over that $295, something told me to just slow down and check them out! I then found this site and your posts. I am glad I did not go further! I suspected something not right about paying to "join" a group to get REO listings, as well as being ASKED to list. But the PayPal thing was the clincher. If they are legit, why don't they have a legitimate shopping cart? Judging by all the negative press about not getting any listings guess I won't be paying anything!