I'm with Jesse in my thinking on these types of businesses. If they were confident that the business is or will be there, they would not be charging a fee up front. Provide me the business and then I will pay a referral fee, but no way I will pay for ANYTHING up front in the hopes I get something.
I paid $299 (I think....) And I submitted a few of listing to their system....and started getting emails from Lamco that I only have 5 listings in their system....No one in the world even looking to Lamco as a site to find homes. THIS IS A SYSTENM TO GET YOUR MONEY.
One their site, the AGENTS have to upload their listings, that's part of the fee, so there are no listings on the site, because agents haven't utilized their site to upload their listings. They handle assets for US Bank and others. My partner and I have received 3 listings already
My partner and I decided to divide and conquer with some of the "pay to play" sites, and he as already received 3 listings! More than makes up for our initial output! LAMCO is great to work with and I would reccomend them to anyone~
I am in Southern CA, I decided to join Lamco when the fee dropped to $199.00. Within 2 months I recieved a BPO request with a note attached when property becomes and REO, the listing is mine. The property is valued at $1.7million. The BPO request was not from Lamco but from an affiliate who uses them to find expirenced agents, lenders reo. I might say give it a try if you live in an area with potential future REO activity.