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I love Kondaur. Yes, you have to do free BPOs but they are very loyal to good agents. The key to anything is good communication. All my deals with them have gone under contract either before being listed or in multiple offers on the 7th day when they start looking at them and they've all closed with minimal hiccups(I'm in an attorney state so that's rare). They pay all the utility bills directly so we save that headache and they pay a full 6% commission. 5% if you put it under contract prior to listing in the MLS. The only thing that needs some work is that they have jumped on the bandwagon of commission reduction if the Broker is on both sides of the deal. Obviously expecting the Broker to take most of the reduction from their part of the split. Since KW is different than the typical Broker, many agents in my office are capped on their split and at 100% commission. In essence, 70 of the 1200 agents in my area, are working for 2% and would hit my wallet on top of it. I've been lucky so far that my dual agent deals have been my buyers. I'll take the extra 1% for an easy sale and to keep my client's happy.
I've found Kondaur to be of the utmost positive experience! Listing and when performing due diligence for them prior to listing!
I fired them a couple of years ago because of the same thing. They want the property sold within 30 days and what seemed like daily phone calls to discuss any new comps in the area.
I have worked with them for years and like them. At first they paid 3% now it is 2.5% and you have to work though res.net which upped their member ship 60%. They seem to only give out 1 REO per year though and with the commission cut and the res.net membership fee I will not be working with them again.
We have done 8 free BPO's over the past 5 years and never received any listings or leads.... We follow up with them regular and maybe in the future will have an opportunity to list a property but believe they are not very active in my market (Grand Rapids, MI).
Good to know, thanks
No, never heard of this company.
Kondaur used to be a great company to work with, especially in Cali. You would do a number of free BPO's but would get random assignments from them that paid 3% per side and in Cali were usually $250,000+ in price. My last property however I had the same problem, it fell out and they took it from me, re-listed with an out of area agent and reduced price to what I told them it was worth. My dealings with everyone there was great but I guess somehow I made one person mad, Ann Pham.
Great company for sure! Hard for anyone to get REO work nowadays.
I never met an REO company that didn't want the property sold in 30. In fact, it was that realization that got me almost 250 REO's back in the day...
We should all be so lucky as to have and maintain a Kondaur Capital relationship!
They were a total waste of my time..... lots of talk.... too much digging.... then they don't make the purchase, or lose their deal...... nahh..... wont do it.