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Greetings Everyone!

 

I was contacted by Banker REO to sign up for BPO and REO Assignments, for a $345 annual membership fee.  I didn't find any posts for this company, so I thought we better get this one out there!  I did a WHOIS search for this company's website and it shows that it was created on June 14, 2011, and they are based out of Illinois ... the same state as the infamous Absolute REO!  There website address is: www.bankerreo.com  Does anyone have any experiences that they would like to share with this one?

 

Thank you!

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I fell for the scam.  I was very busy at the time and didn't have time to think.  I wish I would have taken a minute and checked them out here.  I emailed the company and told them that they promised me a listing.  They emailed back and said I have had an assignment since 2 days ago.  I logged on and looked to see what it was.  Doing research on the property it was bogus.  The house is not in our foreclosure log.  If it is a bank property they are probably just refinancing.  They required a BPO in 3 days.  By the time I found out about it, 2 days were already past.  There was no offer for a fee if I did the BPO. 

I just called the company back and asked some questions.  I got Jordan and he had no answers to them like why I did not get an email notification regarding the assignment etc.  I asked him who the asset manager was.  He did not question me as to the property address, asset number, etc.  This was strange.  I told him that I was getting a bad feeling about the company and would like a refund.  He said he would give me one but there was a $100.00 fee.  I said do it and am waiting to see if I get the refund.  I think I am going to report them to the Federal Government.  They only had one listing on the website by the way and it was in California.

I have also just been contacted today with this company telling me that they has an asset in my area and they normally charge a referral fee but will not charge me since I am "an experienced REO agent". He also told me that I would get paid to $75 for an exterior BPO and $100 for an interior but they could not guarantee me the listing nor could they promise any other assignments to me. I am a little leary of paying this much just to get $75 back....
Don't do it!!!
Tell you what Vicky. If after you read all the post that have been written on this company and Absolute REo, and still would like to join. Then by all means go ahead and join. Good luck
I'm not joining anything!! I was also taken in by Absolute 2 years ago - just wanted to post about the other "money making" schemes out there
Ok - so has anyone heard of Program HR3648 for short sales? You pay $97 a month for 150 leads for short sales and training - once you have the property under contract - they have admin people that will get it through - then either the buyer or you pay a 1% fee - of which you get 25% back. Once you establish a track record with this company, you no longer have to pay the $97 a month....

You are all too smart and well trained to fall for this!

 

Just ask lots of questions when they contact you. Briefly put, if they want my money first, then they do not deserve to have an experienced and well trained ethical broker like me!

I, too, got "the call." James No Last Name called me. Those guys ought to get their act together. Had an asset in my zip code just waiting for me, blah, blah. Yes, it was a guaranteed listing, not a BPO, blah, blah. Give me your credit card number over the phone. Well wait, said I, there's a whole area on your web site for an agent to provide information, choose zip codes, etc. Why wouldn't I just follow that procedure? Well, it's just going to get us to the same place, but slower. Really!?! Suddenly someone else, with no name at all, gets on the phone. No, it's not a listing, it's a BPO. And we pay you well for those BPO's. I could go on.

While that conversation was enough for me even though I did not experience Absolute, thought I'd visit REO Pro to see what all my colleagues here have to say. You all clinched it for me. I'll stick with the companies I don't have to pay to get work from, thank you.

I got the call yesterday and decided to do some research first so the rep told me he would email me the agreement and call me back today, which he did, but I didn't even bother to take the call after what I found. Here's the email:

 

Hello Hermann,

 

I appreciate your interest in our company. Our website is www.bankerreo.com. As well you will find our agreement for the year attached. Please review it. Thanks and I do hope to speak with you soon.

 

 

Marc Slaby
Account Executive
224-400-9164
mslaby@bankerreo.com

 

After that there's a legal disclosure about how the enclosed document, the agreement, is proprietary and secret information and may not be distributed. I'm not going for it, I got the call from ABS some time ago as well and luckily I didn't go for that either. For those of you who did, please keep us posted as they may come up with new tricks. Thank you.

 

Hermann Wiehls
Realtor Associate
Galleria International Realty
Direct: 954-300-2BUY

Fax: 305-328-6990
945 East Las Olas Blvd.
Fort Lauderdale, FL 33301
www.SouthFloridaRealEstate.biz

Good job investigating this. I just got the invitation. Never got my money back from Absolute....

 

Theresa Tuengel, Seattle/Everett Wa

Making a complaint to the BBB helped me get my refund... See if that will help you.

The sad part is that theyre probably calling thousands of agents a day and most of them are sigining up. This company must be making a fortune for a second time.

 

Anybody has any connection with the show "American Greed" on CNBC? They should investigate.

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