Good Morning ... I don't know about Meridian and not sure what you mean by "too demanding". I am the one who complete a large amount of BPO in my area. That means I am "passing" before the property is Bank Owned and also "after" when the property is not sold after so many DOM. I am also the "one" who see all these assignment going to the same agents especially located in other far away County. Here is the same litany: No evident sign for sale, lack of appropriate description on MLS, NO Open House at all, Neglected maintenance on property, Lack of access with local lock box and definitely lack of communication. I have seen on MLS: “don’t call, just email offer” or WYSIWYG … I have found later it means “What You See Is What You Get”. I was struggling in the darkness of a condo lobby to open the combo lock box for an interior BPO when a neighbor came and was surprised what I was trying to do. She told me that I did not need to do that because the key was already in place in the lock…which I did not see. She told me that it was like that since 3 to 4 week meaning listing agent did not bother for all this time. I guarantee this agent is getting all assignment you can dream of. So, Asset Manager is located as you known in a different area and probably State, does not know anything about your area, and you be sure they are worry and want to know on weekly basis. Is that part of our fiduciary duty anyway ??? I understand therefore why they are demanding. I don't understand at all why I see so much careless, unprofessional behavior and at the same time so much succes for those who don't bother!
Sold couple of homes for Meridian. 60 days on reimbursements and if you not on time or your contractor made error with something, you're in trouble:) But I know that they have business and they good with SOC.
Thank you everyone for your responses. I completed my broker application and sent it back but haven't heard anything yet. I know I definately do weekly property checks, turn on utilities, put on lockbox, etc....so if I'm selected then hopefully it will be the beginning of them hire the "good reo agents" :)
Well, after I fired them, a larger broker in my office picked them up. They fired them too. They wanted me to pay for over $5,000 in repairs and basically oversee a repair and remodel job on a house and pay for it up front. I've been doing reo for 3 years and I watched these couple of properties. Since October of last year when I first got this assignment, gave them the ax, the property is just now coming on the market. So it was vacant all that time and I believe that they went through at least 2 agents after me. And to top that all off, they are overpriced. I spoke to some friends of mine who said that is what they do, use agents and spit them out when they don't perform. I'll stick with Fannie Mae, thank you.
Susan, this is just a part of this business :) I have listing with them and you are correct on the repairs, we've paid for new septic. The only thing I'm complaining about meridian is experience with accepting offers, they will take weeks to get that approval, poor buyers and listing agents :)
Vitalily..that was just the condensed version. I work with many companies, trust me they are the most demanding. I can market and sell 3 or 4 hours for the work they wanted me to do for their one and for what? To get the ax after 90 days? nope...thanks anyway.