Advent REO???? input please!

[Monica Guzman]

Hello,

 

Would like some help here....I received a call from Advent REO, saying they have possible listings in my area, however they want me to pay a $295 fee first to join and then get the listings... Have any of you worked with them before?? if so, what was your experience? Any input would be greatly appreciated

[Jose Cordova]

Dont waste you time.....

[Monica Guzman]

@ Louise LOL! bad experience too?

[Louise Taylor]

Run from this company do not walk.

[Margaret Loudermilk]

No, I have not paid to work with anyone (upfront anyway).  I did pay several years back to Absolute REO but got reimbursed.  Have not paid up front but typically the seller gets it back in referral fees, technology fees, etc.  The sellers have figured out how to keep much of the RE commission in their pocket in the end. 

[Monica Guzman]

Thanks for your input Margaret! ....since you say you didn't pay a fee either,  Im thinking that maybe I got confused. But I know"Absolute REO" does charge a fee. Have you worked with anyone that charged a fee before?

[Margaret Loudermilk]

I have worked with Advent in the past couple of years.  I think I have had 3-4 listings with them. The most recent closed approximatley 1 month ago.  The asset manager I worked with was great!  I have worked with a couple of different asset managers that were awesome @ Advent but one in particular there...WOW...scary.  He definitely had anger isuues.  This is a stressful job (for everyone involved) but my goodness there are different situations that arise with all properties & they have to be dealt with.   I did not have to pay when I started with Advent.  I have dealt with several asset companies most are really nice & communicate well.  Others, well.....

[Cheryl Taylor]

Havent done any business with Absoulte REO.

[Monica Guzman]

oh wow! Sorry for your bad experience....what about Absolute REO...Have you heard of them? They also charge a fee to join. Thank you so much for your input!

[Cheryl Taylor]

I've worked with them in the past. They contacted me through Reotrans, I didnt pay a fee to join them. I had 7 listings with them back in 2009.......They paid me $500.00 for each successful cfk's but they didn't get any listings over $80,000 and the their referral fee was 1%. My company is a transaction brokerage. Thank God, otherwise I would have went broke. The asset manager have bad attitudes, I worked on a deal with them for 6 months waiting on the foreclosure deed, finally got the deed and they wanted the buyers to close immediately. Of course because months had passed the buyer had to get a new appraisal done. Because the buyers needed a couple more days to close they got upset with me, terminating my listing agreement and hiring a new agent. Nevertheless the buyer closed 3 days later with the new agent getting my commission which was $1100.00... I was upset but I see business for Advent must not be good for them to charge agents a fee to sell their listings from GMAC........