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Hi All,

I just got a sales call from United Default Management. 

They want $549 for 3 counties. Their business plan is to send me to do BPOs on homes that have NOT been foreclosed, but instead are in PRE-FORECLOSURE  (which is every home with a mortgage, in my opinion, PRE simply meaning BEFORE, haha).

I have heard this song before. And have even paid for a few (insert embarrassed face emoji here).

Before I say anything negative about a company I don't know much about, has anyone heard anything, had any dealings?

On the sales call there was a screener, then an "asset manager." He didn't know the difference between pre-foreclosure and foreclosed. I asked if these were directed short sales and he didn't even understand what I meant. Their website is copyright 2017. New. And they are in Chicago, which is where a number of these scam companies are located.

I look forward to any info anyone has.

Thanks!

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How long have you worked with them?

If it's a portal, it's probably not an asset company.  

I received the same type of call.  "Always good to do your due diligence"  really = Shawn Price, can you give us some more info?  Your office address is a UPS store (they said there is no real estate office in that plaza):

1533 Austin Hwy, Ste #102. I am sure Reo Pro can't investigate everyone that posts on this site.  It would be nice if they would list how long the person has been a member - just a thought.  

Are they owned by the same company?  You had to PAY for a portfolio LISTING?  How many properties were in the portfolio and what was the total value?  What was the commission value?

Jannie what area or State are you in if I may ask?

I am also in that mls system-what properties do you have listed with them?

Anyone else hear about this Company?

I just got the same call about this company.. i am hesitant myself. i also signed up for 1 other company just like this and never saw a single listing and never got reimbursed... feels alot like that other company. did you ever sign up or find out if they are legit ? thanks

I received the same call from someone stating to be a asset manager first asking me rather I had Reo experience and once when I started asking question she put a so call senior asset manager on the phone that wanted to wait for my credit card info so I can be assigned a bpo,I have companies send these for FREE?This made me very nervous about this company 

This company is a crock (in my opinion).  I led them on and let her waste a lot of time talking to me.  When she asked me how many listings I have I asked what she wanted...was it active, prelist, redemption, etc.  She struggled with the answer. That told me they were not real.  When I sent her a long email telling her what a bunch of lies I felt she was telling, she actually sent me an email telling me how wrong I was.  Can you imagine if you told somebody from a real asset management company that you thought they were a fake.  They would NOT respond.  They would hit delete and move on...they don't beg US to work with THEM, it is totally the other way around.  Here is our conversation.  Personally, I don't think "occupier" is a word that I have never heard before.  I would use "occupant". I made a mistake and said they were from Illinois.  It seems to be Illinois and Denver. She has horrible grammar and spelled res.net with a z.  She wrote Reo (instead of REO), used too instead of to, has run on sentences galore, doesn't seem to know Realtor is a proper noun, and had some verb issues.  My favorite sentence was this one:  Most exterior BPO’S are done in the convenience of your vehicle while comps are performed back at home or in the office.  We "do" BPOs in our vehicles??  And what is "comps are performed"?

HER TO ME:

● Occupant Verification- within 48 hours once assignment is accepted 
 
● Photos- 3 photos are required. 1. Front view of subject property 2. Side view of subject property 3. Street view of subject property 
 
● 6 comparisons required to justify market value 3 active listings similar in sq footage, lot sz, year built, # beds, baths, garage, basement if applicable, etc. 3 closed listing, preferably within 6 months, and preferably within a 2 mile radius 
 
● Repairs On Exterior BPO, you would only need to supply repair work from exterior. On Interior BPO, you would need to supply repair work of both exterior and interior.
 
● Current Market Conditions- Make sure to include both the current market conditions for coverage area of subject property along with employment conditions as well.
 
 ● Additional Comments- In the event closed comps are required outside the standard 2 mile radius, please justify why you are needing to go over the 2 mile radius. Any other pertinent information that you would want the lender to know about, please add in this section. 
 
● Occupier of subject property- We ask that on the initial exterior BPO, that you do not speak or engage with occupier. Most exterior BPO’S are done in the convenience of your vehicle while comps are performed back at home or in the office. For safety purposes, we ask you to not enter in the subject property unless instructed so by your asset manager.
ME TO HER:
Here is where you guys go wrong.  First of all, this scam keeps coming out of Illinois.  Maybe pick a new state?
I won't tell anyone....I am just dying to know, do you know that you are pulling this crap or do the people who hire you not let you in on that secret?

Your "sales pitch" where you pretend to interview me is just too long.  And when I asked you if you meant active in MLS or total in my inventory, you didn't know how to answer.
The address you gave me just had a notice of default issued, which means it is nowhere near being foreclosed on and until it is, the lender doesn't hand it over to an asset management company.
Lastly, while some platforms do charge a fee, those are only third party platforms.  The actual platforms owned by the servicers do not charge a fee.

It saddens me that some agents are desperate enough to fall for this line of crap.  I was that agent once, about 7 years ago.  Luckily the wonderful government entities of Illinois got my money back for me

DO NOT try to deny it or defend yourself.  And if you don't know and are really just doing your job, run away.  Run before they come after you for fraud.
HER TO ME:
I have no idea what you are referring too.
Our company has been in business for 15 years & we do have an "A" rating with the Better Business Bureau so maybe you just need to do your diligence on companies before dealing with them before jumping to conclusions when you know nothing about our company especially when we have great reviews on your company.
Regarding my question, it was clear to me that you did not understand my question to you, I asked you how many active listings do you currently have? period. 
Also regarding the property, all properties that we receive are currently in pre-foreclosure & every property is different in regards to where they are in there process, in which some are as close as a few weeks away & the furthest one I have seen is a few months away & yes the lenders has hired our firm to recruit an experienced Reo agent to handle the sale of them.
Yes majority of the platforms do charge a fee, Reznet charges $700 year, & Equator charges $100-$150 month for theirs, & United Default Management charges by counties, 3rd party platforms or platforms through servicers do charge a fee.
Have a great day!
ME TO HER:
Yes, the platforms charge, but only when they are third party.  You are charging for your own platform and we all know you are lying.  Your BBB rating is a joke.  There are no real reviews. You have one guy on one blog who made a post about you.  except when you match up his name with the state database....nope, nobody there.

A real asset manager wouldn't bother replying to my email calling out their lies.  I did understand your question about active listings, but you didn't understand my response

This is old.  Go cheat somebody else.

HER TO ME:

That is not necessarily true & United Default Management is a 3rd party.
And just to be clear we are Livi Management we do not have our own platform.
Wow, now your trying to tell me my job.......ok.......A real realtor or rather let me say a successful realtor wouldn't have time to type out such a long email or wouldn't need REO inventory & If you weren't interested then that is all you had to say but clearly you have alot of time on your hands to keep going back & forth, I do apologize to you but my time is worth money & I cannot continue this conversation.
I wish you the best of luck in your endeavors.
Have a great day!

In my opinion a total waist of our time looks like.

Judy - What state are you in?

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