Has anyone ever worked with this company or still working with them? Can you provide any contact information so I can get setup as a preferred REO listing Realtor?
Unless the lender who has approved you already and referred to specific asset management companies, Save your money.
Most have to be with tracking systems(repair etc setup up fee $35 each submittal is $5...). Sign up thinking listings are coming is unlikely to happen these days.
I got a call from them to list 2 homes, I said I was not interested in paying the fee. my total commission to me (my split) was less than the fee. Ok, so a few hours later they call and say we will waive the fee if you take them. I said ok. Shortly after they were transferred to Phoenix asset. Good thing I didn't. Just not a good idea to charge that. Just another money making scheme.
As Realtors, we are bound to disclosure. Perhaps REO companies should fully disclose upfront fees when signing up or requiring fees for certification. In addition, REO companies should disclose and provide proof of the states, regions, counties, etc that they are conducting business in. Failure for an REO company to disclose this information may be an indication that the company is charging Realtors for fees unnecessarily. This gives the Realtors an opportunity to judge whether it is a company to give hard-earned money to.
Courtney Peace Hagins ABR CDPE
RE/MAX Island Realty
Hilton Head Island, SC
The tact they use is asking one for all personal information and then later tell the applicant there is a CERTIFICATION FEE.
"Taking the next step: Get Certified
Paradigm assesses a certification fee of $1,497.00. This non-refundable application fee is required to offset the cost of detailed processing which includes:
* Reference Checks
* Real Estate Licensing and complaint history
* civil litigation reports and verification of professional liability insurance coverage
Additionally, we allocate a portion of the application and recertification fees to fund an on-going, independent quality control program and marketing support. "
The first item costs anyone NO more than $14.95.
The second item costs nothing available online.
All realtors are required to submit E&O and disclose coverage to practice. So looking at an insurance coverage taking
how long?
The QA, marketing support is coming out of this $1495 1 time sign up.
OK, They don't even have CA, HA yet so how valid is the QA?
Oregan: 4 So there are already a few affiliates who gets a 1 listing 200 miles away.
NY: none
CA: none
FL: A piece land
The top REO agents in any city normally have way more than 54 listed (12/12/2009)....
Do your research and you will be the judge what will come out of this sign up... Good luck!
They have a very strong team and business model and have allowed visitations in the past to observe not only Paradigm's operation, but also Mercury (the REO division). They've been very flexible and accommodating in the past and Tom's a wealth of information.
Tom was my managing broker for a period of time when I was an REO specialist in Denver. That's how we met. Ruben and I (along with his wife Tiana) were colleagues prior to working together at Mercury. I've also worked with Suzanne Hutchinson and Garrett from their office and have nothing but nice things to say about them....Tom even was thoughtful enough to send my wife and I a wedding gift last month.
Just communicate with them and be upfront and I think you'll be happy.
Someone else just asked about Paradigm 2 weeks ago & here is what I posted:
Tom and Ruben who own and run Paradigm Default Services are great guys. I just had lunch with them a few days ago here in Austin TX this past week. I am part of the Paradigm Network and was referred to them by Dan Waterman from NFSTI, he knows them as well. Tom used to run Fannie Mae in Houston and knows just about everyone. You'll also see articles written by Tom in DSNews, & HousingWire. Ruben has been in the REO business for a long time & was Freddie Mac's #1 listing broker in 2008' for his area. They have a lot of contacts and are expecting more REO Inventory in 2010. You can read more about them on their office website www.themercuryalliance.com For anyone who is new to the business they are happy to help you in any way they can. If you're in their broker network they encourage you to visit their office in Colorado to see how they run their REO Business.
Is there any new information about the company and their current inventory? I signed up a year or so ago, paid the $1495 but was given only 1 property which was transferred to another REO Outsourcer (Phoenix Asset) shortly thereafter. I have not heard anything from the sense. Today I checked their website to see if they had inventory in my area but I couldn't seem to get anything to come up under "Properties 4 Sale" in any area.
Replies
Has anyone ever worked with this company or still working with them? Can you provide any contact information so I can get setup as a preferred REO listing Realtor?
Thanks for any advice and help; have a great day!
Unless the lender who has approved you already and referred to specific asset management companies, Save your money.
Most have to be with tracking systems(repair etc setup up fee $35 each submittal is $5...). Sign up thinking listings are coming is unlikely to happen these days.
Courtney Peace Hagins ABR CDPE
RE/MAX Island Realty
Hilton Head Island, SC
"Taking the next step: Get Certified
Paradigm assesses a certification fee of $1,497.00. This non-refundable application fee is required to offset the cost of detailed processing which includes:
* Reference Checks
* Real Estate Licensing and complaint history
* civil litigation reports and verification of professional liability insurance coverage
Additionally, we allocate a portion of the application and recertification fees to fund an on-going, independent quality control program and marketing support. "
The first item costs anyone NO more than $14.95.
The second item costs nothing available online.
All realtors are required to submit E&O and disclose coverage to practice. So looking at an insurance coverage taking
how long?
The QA, marketing support is coming out of this $1495 1 time sign up.
OK, They don't even have CA, HA yet so how valid is the QA?
Oregan: 4 So there are already a few affiliates who gets a 1 listing 200 miles away.
NY: none
CA: none
FL: A piece land
The top REO agents in any city normally have way more than 54 listed (12/12/2009)....
Do your research and you will be the judge what will come out of this sign up... Good luck!
Tom was my managing broker for a period of time when I was an REO specialist in Denver. That's how we met. Ruben and I (along with his wife Tiana) were colleagues prior to working together at Mercury. I've also worked with Suzanne Hutchinson and Garrett from their office and have nothing but nice things to say about them....Tom even was thoughtful enough to send my wife and I a wedding gift last month.
Just communicate with them and be upfront and I think you'll be happy.
Dan
Someone else just asked about Paradigm 2 weeks ago & here is what I posted:
Tom and Ruben who own and run Paradigm Default Services are great guys. I just had lunch with them a few days ago here in Austin TX this past week. I am part of the Paradigm Network and was referred to them by Dan Waterman from NFSTI, he knows them as well. Tom used to run Fannie Mae in Houston and knows just about everyone. You'll also see articles written by Tom in DSNews, & HousingWire. Ruben has been in the REO business for a long time & was Freddie Mac's #1 listing broker in 2008' for his area. They have a lot of contacts and are expecting more REO Inventory in 2010. You can read more about them on their office website www.themercuryalliance.com For anyone who is new to the business they are happy to help you in any way they can. If you're in their broker network they encourage you to visit their office in Colorado to see how they run their REO Business.
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