Scam! Scam! SCAM!
I received this email after talking to Ms. Oliver about becoming their REO AGENT.
My name is Olivia Palmer and I am an asset manager with Team Lear. I work with the local banks and courts to find properties to assign to experienced REO listing agents. I also receive referrals from banks and online resources to match up these properties with listing agents who I feel will be able to service these properties best. The lender on this property is looking for 3 things: a bpo to best determine the market value on the property, the current occupancy status which will help determine how soon the property can be listed, and an agent to list and market these pre-foreclosed properties.
Now if you complete these bpo's within the time requested by the lender and it is priced right, you can be assured to receive these as listings. We have a team that reviews the bpo once you submit it online to make sure they are completed accurately, so be assured that we work with you and we aggressively market you as the exclusive agent. My company works with you and the banks to get these properties ready for listing which means we take on most of the expenses for property management.
There is a one time fee that you would be responsible for which comes to a total of $449.00, $400 of which you get reimbursed for because that is a deposit that is put towards the property preservation and management on you first listing that helps assist us with the first costs. My company puts up the remaining costs on that first listing and all others that you would receive from us. Now once we get reimbursed from the lenders, which is usually within 2-8 weeks, we immediately send you out a check for your deposit. The $49.00 goes towards the software that we lease from the lenders which allows you to receive and complete assignments, receive listings, and be in contact with the lenders directly. It is not a reoccurring charge. If you have any questions, please call me back, I will look forward to answering any questions you might have.
Olivia Palmer
Asset Manager
Replies
HA! The rep stated "I work with the local banks and courts to find properties to assign to experienced REO listing agents". So I guess they are working for us, the agents. Is that the most inane statement made, ever???? Don't asset managers find agents to list the bank's properties, not find properties to list with the agents? LMAO!!! I hope they catch these people soon. I know Lear has advertised for help on Indeed.com. I envision the employer telling the clueless employee to look for properties advertised on the foreclosure list in the local paper and call the agent with the spiel (uh, script). The employee, or independent contractor, probably has no idea how REO disposition works.
I got the call this morning. Ask to have an email sent with the information. So, I got an email with basically the same thing. The ASSET MANAGER told me they had an asset in my area, but I did not get that info! I feel for this scam once and that was enough for me.
Hilarious - I just received a call from them (constant name changes) and not only did the "asset manager" become upset when I told him it was a scam to get my $400 but also he insulted me, yelled at me and called back twice - even leaving a message with more insults!
Team LIAR
I just received a phone call from a Shelly Patterson with this same company asking for the $449.00 one time fee. From the beginning it sounded too good to be true. While she was talking, I googled reviews and thank you so much for posting the scam information.
Olivia, time to change company's are start working for someone reputable it seems to me. I've been doing REO's for over 15 years and not once have I ever been asked to pay a fee upfront on a property. NEVER! Who in their right mind would even consider doing so? Good lick, you are going to need it.
Yep. We've been throwing this "company" under the bus for a few weeks now.
This thread is a good read.
http://reopro.ning.com/forum/topics/who-has-worked-with-team-lear-a...
i got this same call. When I pushed back she hung up on me... I've seen this scam before with REO PRO. These calls are from criminals, plain and simple.