I have been solicited by United REO on a daily basis with the tag line that they are adding 1000 listings from Chase. Anybody receive anything from them? They cost $400 to join.
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I used to pay for United REO's site. I met one of their employees at a conference a few years ago. He followed up with me and talked me into paying to join the site. After 3 months of paying I terminated our agreement. As a vendor I found the membership useless. It is similar to REO Trans. Even though your signed up, you still have to locate your own clients. I would avoid United REO at all costs! The successful REO agents that I know just keep showing up at the annual conferences and seem to be doing pretty well!
I signed up with them over a year ago after I was contacted by a former AM that was working for them. After I signed up ad paid my initial fee (I seem to recall $495 as that number), and authorized my monthly subscription, I found out that the supposedly exclusive territory I had wasn't. Not only did I not receive any business or even inquiries from being a member, when I e-mailed them with my concerns, there was no reply. No working phone numbers, bounced e-mails, and no response to questions.... Finally, I had to have my accounting department dispute the charge authorization to get the monthly subscription fees to stop. DO NOT MAKE THE MISTAKE I MADE!!!!!!!! As far as I can tell, it was a complete fraud.
Jason Harper > Franklin E. RodebaughOctober 12, 2009 at 6:31am
Any legitimate REO company has a longer interest list of agents trying to join than you could imagine. It cracks me up when these "scammers" try to make it sound as if they are desperately trying to seek out qualified agents!!! I will tell you why they are desperately trying to seek out agents... because word travels quickly when you are stealing money from agents! No difference with this company. They will take your money all day long and you will never see a penny in return. So unless you need another tax deduction, stay away.
The ONLY time I have ever had to pay any fee for doing business with an REO client came after I was already accepted... and it was for their training. Those fees are fine with me because they have all paid off HUGE returns!
Watch your money or these types of companies will put you out of business.
NE tyme an REO company is soliciting agents means they dont know RE oh...with 50 Million all of a sudden REO Experienced Brokers, especially from Re/Max, why wood n e r e o company solicit n e a g e n t in this market...da da duh - carlos mencia
My feeling is telling me it doesn't sound too good when a company is soliciting REO agents. I'll check it out also and let you all know what I can find.
I get e-mails from them all of the time as well. At least 1 a day. My girlfriend paid into it and never got anything. I'm not too fond of paying for BPO sites. I do about 100-150 a month and haven't paid a dime out.
I have never heard of them before. I will look into this and see what I discover. I am always cautious with all these new asset managers charging up front money from us. They should be getting 1% from the banks which is more than enough to cover operating cost. Beware of these companies and I applaud you for doing research. I am not saying that this company is one of those "bad ones" .....but you just made a great point by doing your homework
Replies
The ONLY time I have ever had to pay any fee for doing business with an REO client came after I was already accepted... and it was for their training. Those fees are fine with me because they have all paid off HUGE returns!
Watch your money or these types of companies will put you out of business.
Do you mind sharing where you get your BPOs? I'm at Margaret.Rose@comcast.net. I would be happy to share with you as well.
Thanks!