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BEWARE! Asset Management Companies that charge a fee to assign you NOTHING!

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BEWARE! Asset Management Companies that charge a fee to assign you NOTHING!

This group is to list the Asset Management companies that charge a fee, promise REOs/BPOs/Leads - But BEWARE they do not produce. AVOID and hold on to your $$!

Location: Nationwide
Members: 61
Latest Activity: May 8, 2013

Discussion Forum

Res.net -- Where Do They Stand?

Started by Megan Zavieh. Last reply by Sharon Letson May 8, 2013. 2 Replies

It seems from reading various posts on the REOPro boards that a lot of you have signed up with Res.net, and one of the recent posts on the wall is about them too.  What is the general feeling about…Continue

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Comment by Brenda Rodgers on April 18, 2012 at 1:46pm
Has anyone heard of Brian Proctor and would you pay of it?
Comment by Megan Zavieh on July 27, 2011 at 11:10pm
Don't waste your time with Absolute REO.  You can search these boards for more stories like ours, but my partner and I both signed up a couple years ago.  All that ever comes is $50 BPO orders, and only when you complain that there's no work.  In theory, you'll get the listing on any BPO you do, but listings never come.  They used to promise that you'd make back your $295, but I guess maybe they're not even promising that now.  Each time you complain and seek a refund, they throw another BPO your way and attempt to soothe you with promises that work is coming.  Nothing ever does.  I'm currentlly working on getting our fees refunded based on the promise that was in effect when we joined.
Comment by Brenda Rodgers on July 27, 2011 at 7:53pm
Has anyone ever heard of REO Vender Manager? They charge $199.00 that is renewed annually and a 25.00 cancellation fee. 
Comment by Brenda Rodgers on July 26, 2011 at 9:37pm
katherine, I have never heard of this company and I am in the Chicago area. 
Comment by Katherine (McAmis) Santifer on July 26, 2011 at 8:32pm
I keep getting calls from REO Solutions based in Chicago. They want a $295 administration fee up front in order to get BPO's and Listings. The fellow who was on the phone informed me that there was no guarantee you get listings. I told him I wasn't interested in this and hung up. I've paid for other up front REO asset companies before, including RES.NET and received nothing in exchange.  It's a shame these companies Prey on Realtors who just want to work and make a living...
Comment by Vitaliy Mikshanskiy on July 14, 2011 at 12:46am

Frances, I'm surprised to hear that about about Kondaur, my experience with them is great, I've sold several listings and currently have in premarketing. I feel sorry for you, I know that feeling with spending nights doing cmas for companies. Me personally will rate kondaur with great rating.

Comment by Frances Khawly,Luxury, CDPE,GRI on July 14, 2011 at 12:40am
Vitaliy, I do not want to be negative.. but I was able to sell one property for them and it was very challenging. But I was there when the Company had a big amount of properties and no other agents to help them with BPO's and evaluations on numerous properties. I was very hungry and in needed to work. I was traveling for hours and for at least two weeks. I would go to different counties and then long nights of numbers and uploading MLX sheets and comparables.. well I thought i would pay off . It did not .I believe experiances vary from Company to agents. I hope the best for all, but just beware of Kondaur.  
Comment by Vitaliy Mikshanskiy on July 13, 2011 at 11:54pm

Frances,

what do you mean by watch out for Kondaur?

Comment by Frances Khawly,Luxury, CDPE,GRI on July 13, 2011 at 11:46pm

I believe in consistency.. but watch out for Kondaur Capital..

Comment by Joy A Smith, SFR, ABR on May 4, 2011 at 1:32pm
BEWARE:  ABSOLUTE REO SOLUTIONS, INC   www.ABSREO.COM in Chicago IL. They continue to call & call me for over a year ... & once I gave my $295.00 to them I can never reach them again. Do not do business with them.  
 

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