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The Caneel group contacted me about a year ago with some assignment and said they needed help with cash for keys and to over see the properties and when they go back to the bank I would get the listings ....

Well the first house went to a different agent just as soon as I had the house trashed out and PAID for it.

The second house and third house the same thing happened .

When I confronted them they told me they are just a middle man and they don't assign listings.

So there deal is to get agents to work for FREE..

Just so you know everyone.

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Thanks for the heads up.  I have never heard of them.  What kind of company are they?   Just a service contractor? 

They have not told me but what I think is they are just a bill collector .

I have received assignments, and closed properties with them.  They work portfolios for cooperative short sales.

 

You have to make sure your AM refers you as the agent when it goes REO, because after it is a cooperative short sale and you can't get it done (owner uncooperative, no offers high enough,etc) it goes REO with a different company.

 

I lost a couple this way, but also closed a couple 300k plus listings, so it worked out.

I closed a deal with them and helped to do DIL on two properties. I didnt get the REO, but I got paid for the help I provided. I had two deals pending but the sellers didnt cooperate so one FC and the other is still there. I would say they are not bad.

Good to know. I have been doing two chases for them, the owners never did respond to either me or them.  Just bad luck here.

I've worked shorts with them but if that doesn't work out another company handles the REO assignment.

I recently handled a DIL for The Caneel Group and was told I would get the listing.  I was instructed to have rekeyed and to line up "trashout".  When the contractor arrived to do the "trashout" subject had been rekeyed again by another agent who received the listing.   The Caneel Group actually dropped the ball in regards to the DIL and the property went into foreclosure even though the occupants agreed to the DIL and did everything as instructed to avoid foreclosure.  The occupants did not want the foreclosure in the newspaper as they live in a small rural area.  If they had waited they could have gotten cash for keys.  I did all of this for nothing of course.  That was the DIL, the BPO, etc.  This happened to my business partner as well. 

Any updates on this company?

Assignment is already a redflag. Is it compensated or not? If they are not specific you don't walk away. You run.

I've done 2 door knocks for 'em.

They seem to be trying to get all default buyers in to DIL situations and I've gotten in writing their commitment to use me as the listing agent once the DIL is done and title conveyed. 

The downfall is that both properties appeared to have been abandoned long before I taped a note to the doors and if there is no DIL, there's no listing.  I've worked with other banks and companies who use this model and have had decent success. You just have to go out there with no expectations at all.

Heck... worst case scenario is you watch the property go through the court system and market yourself to whoever buys it at the foreclosure auction... or bring your investors and have then buy it based on your well timed CMA. :-)

I think that is your best bet Seth. I'm not sure how they are now but I received a couple of assignments from them in the past, DIL's and nothing ever came of the so-called listings. Hopefully they are different now. :-)

I just received an email from this company asking me to do a door knock for them. Having been through so many companies that are not legit or not paying me, does anyone have any advice on how to tell if these people will give me the assignment or pay me for my time?

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