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.
Thanks for all the good information. I have filled out and submitted all the paperwork, but don't want to pay their fee. I'm in Ohio and see they have 5 listings for the whole state, but can't see where they are. They are dangling a listing in front of me, but after reading all your posts I wonder if it's for real.
Thank you all for making my decision very easy. I knew what I was going to say ahead of time. The Rep called me today and was reading right off a script. I even gave him answers that didn't even have anything to do with the business and he just kept on talking and typing away. He promised he had a bpo for me and had a money back guarantee if I didn't recieve Reo's within the year. Than my rooof started leaking so I had to end the call. I know he will call me tomorrow and I will give you all an update.
Well....should I just say thanks for saving me $295! My Realtor husband got an email last week.......he signed up everything and then the site asked for $295 now or later.........he warned me about it and today I got the call.......Victor first asked about my experience (I have 12 years REO experience and 26 as an agent)......he then said I sounded just like the agent they hoped to find to help them sell their REO's......that he had a preforeclosure in 78258 that he could send me early next week if I could promise to be able to accept the 72 hour deadline.....I would get paid $50 for the BPO......if it gets foreclosed on, and he was sure it would, it would go to Auction....if it didnt sell at auction, I would then get the listing for 5% without a referral fee (ok....my headlights were finally turning on).....I told Victor I would have to call him back as I needed to research him with a group of other REO professionals I do business with....and here I am. Thank you all for your replies to this discussion........you have made me richer and wiser!
You/we need to change our thinking. In my area in Southern California, the REO's are way down and the agents are fighting over the listings, they are giving listings to agents over a hundred miles from the property! Here the action is now in short sales. The short sales out number the REO's. One thing I have learned in this business is you have to be able to adapt to the market.I am not sending any more money to RESNET or REO Vendor Manager or any of the other leaches. The sooner these asset mangers get fired and have to find other jobs the better as far as I am concerned.I have so many appreciative clients and these asset managers treat you like scum.