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I'm sure this is a scam but thought I would check. Sounds like the same company out of Chicago that has been doing the same thing. They have a property and will need a BPO. ITs $399 oh and if the bank doesn't happen to buy it back at the sale they will send more properties. I know it is a scam but thought I would run it past my fellow REO pro's! Thanks in advance for any info!
This is a scam company Run away
Was contacted by this company last week. I told them I don't pay to join any portal, never have and never will. The REO's I'm assigned don't ask for any money up front. I may have to put utilities under my name, but I get re-imbursed.
Yep Same here. Just thought I would throw it out there and also thought it would be good for others to see.
I'm glad you did put it on here because this is the first site I came to check to investigate this company.
What the rep from this company told me over the phone did not make sense to me as an active REO agent. I've never heard of an Asset Manager promising you a listing before it's even foreclosed. The caller gave me an address and I looked it up and saw that it's still in the process. I asked her, "Why don't you just assign it to me through a portal?" Of course she said that I had to join their portal and didn't mention any fees until I saw her email. I emailed her back and said, "I'll pass, Thanks anyway".
I just received a call from this company, too. I made an agreement with them. They gave me 3 potentials so here is what I did.
I told them that I would do 3 BPOs for them (the 3 properties). They say they pay $75 each. I said that I would be willing to sign back the $225 as my 50% payment with them taking the other 50% out of my first commission check. Somehow, the person got this approved. I figure the only thing I would be out would be the work on 3 BPOs. Hey, I have done BPOs for other companies for free for the chance at a listing (and gotten listings), so why not....
Did you get a listing from them?
did it work out ?