America's Largest Social Network for Default Real Estate Professionals
I see their site and signed up on their e-mail list.
I just got 3 referrals. 25% plus a $165 tech fee. They use the Arro platform. I delayed taking 2 from yesterday. I was going to email back about minimum commissions, etc but didn't. Another one just came in today and I knew it was still active with someone else. Different owners. The rest of the deal is as is, no utilities. 7 pages. Not sure who mows. I'm supposed to check occupancy. At least 2 are going to be rough and less than $15k. I'm not finding a phone number to talk to anyone just yet. I'm not going to do any heavy lifting until I do.
One encouraging thing is that Art Acosta is involved as the asset manager. I know him from my NRBA days. I've respected his efforts over the years as a broker of his own company and his involvement in REO. I've expressed my hope to be treated with decent minimum commissions.
And, yes, Larry Pool is still involved. He's the post-foreclosure and closing coordinator.
1 assignment was listed in the MLS. I assumed that it was going to expire. It was put on hold. A Bpo was ordered for the second one. I asked for the padlock combo. It came back as sold by the owner.
The third one was ready to list at $44900. My value - $25k. With a commission of 1% listing side and 2% selling and the tech fee and a $1.00 (one dollar) minimum commission, I turned it down. Had it been priced for a quick sale, I might have just gone along with it but the co-broke fee would endanger my reputation as tenuous as that always is when you are an REO agent in the first place!
They falsely have Art Acosta on the website as the asset manager for the 3 assets assigned to me. He did not know that and is not the asset manager. He was just finding agents for them. It also turns out that AMCF was not authorized to assign the listings either.
Add me as a friend when ya have a minute if you don't mind. I have a couple of questions for you and hope we cn help each other...
Sounds fishy at best