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Started by BAYO OSHINNAIYE :
Who knows "Team Lear" as asset management company: I received a call today from an Asset Management Company "Teamlear" from Colorado. The spokes person, Ms. Jordan claim she is the asset Manager, that she wants me to do BPO for her company and that all the BPO's l do will result in REO which l will be listing for them. She furher said that she will be requesting me to deposit $400 for the home maintanace, a one time fee. Then l will pay $54.00 for the software to use for their program. I do not belief her, but has anyone heard about this company or did any business with them? I know am not paying any money to them.
Are they fraud or real? They have a website: www.teamlear.com
I suggest you search the web for a good review and let us know what you find out. You could also pay and tell us how it worked out. Also let us know what in in the master listing agreement.
Dorothy, its a fair question you bring up. My skepticism was piqued when one of the properties they "assigned" to me was an owner carry that went back to the lien-holder. I spoke to him on the phone and he had no knowledge of Team Lear and no intention of selling the property.
I would love to hear from someone who has successfully listed a property from this company. This discussion thread is nearly 2 months old now, which is nearly enough time for a property to be assigned and listed. Any success stories out there yet?
Well, that says something. You actually spoke to the homeowner who had no knowledge of Team Lear. Like you, I'd like to hear a success story. Who actually got a listing?
Not to add any credibility to the company itself but borrowers rarely are aware of an asset management company. They would be familiar with the servicer of the loan. The first time they even know what an AMC is usually when they are offered cash for keys.
You both mis-understand my post. The LIEN-HOLDER was a private party (think owner carry) on a home in the Aspen area. I did not speak with the borrower or the occupant. In this case the party who foreclosed on the property was not B of A or Chase, it was an actual person with a phone number. He had no knowledge of Team Lear, thanked me for letting him know they were going to assign me the property he owned as said he would call his lawyer.
sorry about that
I realize I can do all that, but really I haven't seen any proof from anyone that this company has done something to warrant it being called a scam. I'm a seasoned agent, but new to the REO part of it. I'm trying to determine which companies are scams and which ones aren't, which is the reason I joined this forum. I'm not trying to be argumentative, but seriously, what if the company is legit and here we are calling them a scam. I'd like to know of experiences of other agents who have worked with them and can honestly say they were ripped off or for that matter honestly say they are getting REO assignments.
It is not legit. Sorry
Too good to be true.
No real asset manager will spend that much time with you trying to recruit.
The easiest way you can find out look in their website for their assets. Properties that are currently for sale. All the legit websites have and promote their assets.
I got call last week from Paul Miller gave me 3 addresses and said I needed to do a bpo and would get all the listings. Told him I needed to research the company and never heard back from him.
While going through the posts, there was some concerns regarding companies in Colorado; I agree with an earlier post regarding AVM located in Grand Rapids. They are the real deal! My partner and I started doing BPOs for them in the mid 90's when they were located in Corona, CA. We received several assets as a result of our BPOs. While an agent in Ohio, I went to a co-training in Grand Rapids, excellent response and training. Last week I did a BPO in the Los Angeles area for the company. They pay on time and as promised. They do not do broadcasts of BPOs, they are assigned. They are one of the companies I am always willing to do BPOs for.
Robert, would you mind sharing the company website for AVM? I'm in NorCal, so I would not be competition. Thank you.
Many of the bpo/reo companies are listed through the top of this websites. Just click through BPO Automation.