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America Buys Foreclosures-Breaking News: Is there trouble in Paradise?

10/19/2009-Someone has resigned and is hoping by announcing it on our forums she will regain her "good name and reputation". As she has been known to remove her posts once she has written them I have copied it to my reply below. See below....

Has anyone had any luck getting listings from this company, or have they finally run out of Realtors to hustle? I have tried to get a response from this company on several different forums that they were previously discussing their value on a daily basis and have had nothing but anonymous posts suggesting that I have a grudge of some kind with them. Is anyone from ABF still answering questions somewhere? I would be grateful for some input here so that I can either recommend that my agents sign up or tell them to move onto something else.

Thanks so much for all of your advice!

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I have a thought that I am sure is going to be very unpopular. There are no guarantees in Real Estate.We all spent lots of hard earned money to take our classes, take the tests,pay for our board memberships,pay for E&O, get business cards,signs, etc... And we were guaranteed what? Nothing. We spend money on advertising, walk the neighborhoods, sit open houses for hours on end and still may get nothing to show for it. That is the nature of our business. Want a sure thing, get an hourly job.
I signed up with ABF and have not gotten any listings as of yet.The amount of money I had to pay is worth the risk to me. $99 per month for a zip code AFTER I receive a listing in that zipcode ? Works for me. I am sure that nobody has ever paid a refferal fee to an out of area agent who sent you a client needing a Realtor in your area. 25% sound about right? I am also very sure that none of us HONEST REALTORS have ever fudged a little on the mileage or operating expenses related to our profession with Uncle Sam. So the amount I spent to sign up, was it really mine in the first place? Is there a chance I can gain it back at the end of the year even if I never get anything from ABF?
Hi Marcus,
I agree that there are no guarentees, but the problem that most of the agents are having is that they have been strung along for months and months by ABF saying that "next month". Why wouldn't they just tell the truth. The truth is that until they have a signed contract with a Bank/Investor, they really have nothing to offer. Isn't that what we tell our clients? Until the contract is signed we have nothing. That is not what they said. They said they already had contracts in place, we know that is not true. I have no problem with you spending your money however you choose, but let's be honest if you were making enough money would you have spent a dime to sign up with a company that offered no guarentee? I think this company figured out just how much an agent who was in need of business would pay to possibly get something from them. They just haven't been honest or credible. They also have disappeared from this sight, which really looked bad. I wish you the best of luck with ABF.
I signed up, paid the $150, and took the training class online. I was ready to go EXCEPT, there was one important thing that they didnt mention. AHHHH they werent ready to start the business.


So now im trying to get my credit card to refund the money. AMF is disputing back saying that I paid for the training. I was told that I would get Reo leads.

Be aware, and be careful of who you give your money to.

I sign up when they first started and lost a couple of hundred in settleware fees and canceled when they started charging for zips

C21 Amber
Hi Vickie,
My Principle Broker signed up with them 6 - 8 months ago, paid for zips and paid for training.

He has never heard anything back.

Recently they were advertising on Craigslist - all across the US from what I understand - for agents to contact them about building an REO team. They made it seem like a local agent was building a team. Keeping my finger on the pulse of who is working REOs in my area, I replied using my personal email (rather than business). Low and behold the next day I got an email from ABF thanking me for my Craigslist inquiry.
They were running these ads anonymously as there was no where in their post they put their name or location and they just used the craigslist anonymous email address for you to reply to.

Scam or not, I have no proof. Poor business people you should not do business with - that I have proof of.
Vicki -

I too signed up --- took their so called classes (and paid for them) then ABS insisted that I lease this digital signature software for something like $40.00 per month charged to a credit card -- I told ABS that I will lease this software within 24 hours of my first assignment - I have not heard back ---

Bill Volbrecht
Hi Vickie,
I find it very difficult to believe that ABF is still a topic of discussion. I wrote almost a year ago that the company was in law suits, as far as I know, they still do not have the Banks in line at all, they do not have anything to give because the Banks have not turned anything over to them.As far as I know, they still do not have contracts with the Banks. I became part of ABF after an unfortunate situation which involved the owner of ABF and the EXIT office that I was a part of, thinking that, in spite of her, it might be a good deal, like we all did. However, there has not been anything happening, and it won't. I know the people in the office of ABF, and the ones that are no longer their. I have the full understanding that this is a struggling company without the backing that they need. All I can say, is be very careful with your hard earned money. As far as Settleware is concerned. It is a legitimate company and is worth being a part of without ABF to do your transactions paperless.
Patricia Artiglio

You know very well "Whom this may concern". If you think your announcement will make everything all better you are sadly mistaken. I and many others have suffered your anonymous abuse as well as your rude and insulting remarks on this and other forums. Why, because we had the audacity to ask you questions. You were so transparent it was almost comical. You would go on and on about how great ABF was as long as no one asked a real question. As soon as someone did you would demean them and accuse them of having an ax to grind and ignore the question altogether. Although that is nothing compared to the 1000's of agents who put there trust in you and ABF and expected to make money from the listings that they waited and waited and waited and waited for. They lost money, hard earned money and you convinced them to hand it over.

Please be advised that to restore something you must have had it before. I am not convinced that you ever had a "good name or reputation" to restore. You were the mouth of ABF on the internet and it should stay with you for a very long time. You showed up on dozens of blogs and forums, and hundreds of craigslist postings peddling ABF as a way for real estate agents to get REO listings. Have you ever seen one agent who you signed up with ABF get an REO listing by using the ABF "platform"? Come on Megan, lots of us could see that this wasn't real, do you really expect us to believe that you did?

If you really want to change the perception people have of you do the right thing and help those who lost money get it back. Short of that it might be better for you to start over in another business and build a new and improved name and reputation.

Best Regards,
Vicki Smith

Permalink Reply by Megan Combs 3 hours ago
To Whom It May Concern:

Effective immediately I have resigned from my position with America Buys Foreclosures. I have worked in good faith for over a year representing ABF, however I can no longer justify my association with ABF. Through this effort I am also hoping to restore my good name and reputation.

Megan Combs
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