REOPro - Real Estate Default Professionals

America's Largest Social Network for Default Real Estate Professionals

Exciting News! Equity Pointe has partnered with REO Vendor Manager (to charge you $200/yr!!!)

BROKERS, NOW IS THE TIME TO STAND UP AND BE COUNTED.

The above email subject (less the portion in parenthesis) hit your inbox if you have signed up with Equity Pointe to perform their cumbersome and time consuming BPO's.

The email continues...you are required to do this....and oh by the way...don't ask for REO/BPO assignments from REOVM because they do not supply those.

What a great idea....sign up with REO Vendor Manager so they can remind you when your license, insurance, etc. expiration date is approaching.......AND THEY WILL DO SO FOR A MERE $200/PER YEAR (disclosed after you begin entering your data).

Then when you refuse to COUGH UP THE $200.00, EP will cancel you and explain how sorry they are that you will miss out being listed on the REOVM data base where other asset managers MIGHT find you.

LET"S PUT THESE MONEY_GRUBBERS OUT OF BUSINESS ONCE AND FOR ALL !!

(any takers on who owns REOVM?)


PS: If you happen to do business with a certain other AM company whose 3-6 letter name starts with a letter between k and m, I would strongly suggest you consider cutting your losses and get out now......according to my little bird friend. This company and their 33% referral fee need to also feel the pressure we can exert when we unite versus feeding the greed.

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Comment by John A Walker on January 5, 2011 at 7:12pm
I agree-- What a racket.  The  REO biz is attracting more and more of these scam artists.
Comment by Christopher Walker on January 5, 2011 at 7:03pm
I agree completely. Too many out there just looking to take advantage. The new year will bring more of them. Stay educated, stay informed and NEVER buy anything solicited over the phone, by email or through the mail without first researching the company....COMPLETELY. Happy new year to all !!!
Comment by John A Walker on July 6, 2010 at 7:29pm
I agree---talk about charging for doing nothing. DONT GIVE THEM $$$$
Comment by Dianne Langston on April 26, 2010 at 3:14pm
Other professions "associate" to protect their investments in their career. What happened to us?
Comment by Gordon Corsie on December 1, 2009 at 7:47pm
Glad somebody finally said it.
Comment by Kelly Sharp on November 29, 2009 at 11:25pm
EXACTLY! I signed up for EP and got nothing from them. I'll be oh so sorry to be cancelled. I use REOTrans and RESNet. I signed up for Realty Pilot (30 days free trial), but the verdict is still out until I get better grasp on what they actual have to offer.
Comment by Jan Baron, RDCPro, CSP, BPOR on November 26, 2009 at 5:05pm
I'm tired of everyone taking a piece of my commission. Paying for a job? Didn't that go out in the 60's with the employment agencies who charged you your first month's paycheck for finding you a job?
Comment by CJ Oliver on November 23, 2009 at 9:10am
One problem as I see it is the fact that newer agents may feel more pressure to sign up and if they do get listings they don't have the experience to run them. I know everyone has to get started somewhere, but I don't think this is the place. For my money the only one I use that costs money is Resnet. The rest can take a hike. Someone is paying them though.
Comment by Halina Verzani on November 23, 2009 at 7:50am
Corporate Asset Management - $299 up front and I paid.Later I checked MLS how many listings they assigned in the area ..found that almost all listings are "short sales' posted by Realtors who paid $299 like I did.
Comment by Lew Peterman on November 21, 2009 at 10:40am
I forgot how to count - sorry, Jose - 3-6 letters.
I heard Lamco's another one wanting your money up front for a piece of the pie in the sky. I have rejected their "beggars cup" as well.

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