REO Pro - Real Estate Default Professionals

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****Why Should I Pay A Fee For Hoping To Receive A Listing****

I have read a lot of post on this website and others and it is very obvious that most of us would like to generate more business through different outlets. There are a lot companies out there want to charge up front fees to join their network with no results. It kind of dawn on me that I put time and effort to obtain my real estate license and earn my MBA and a few certifications and why am I being insulted to pay for something that I already know. Not to say that I am not open to new ideas because I am.

Yes we are in a different market but the basis are the same. Without buyers or sellers we will not earn a commission. So I said to myself I can generate my own leads with my own efforts which I have done. Yes it is better to get your own

default list and cold call, mail or door knock for business and refferals.

If I go to the store to buy milk I want to exchange at that moment. If I go out and buy a car I want that exchange at that moment. It does not work a lot in this arena. You join a company for refferal and you hope for an exchange but they say you be added to a list or refund you in a year if you do not receive anything. What a joke.

If a 1,000 agent across the country join a company at 300.00 that is 300,000 which they can put in an interest bearing account to cover their overhead and on top of that a small percentage are selected out of 1,000. Have you ever wondered why one person has 25 leads from a company you both signed up with and you live in the same area and have none? Think about it.

Going forward if I join a company and I can not receive a listing within 30 days it is not worth it. This comes down to

how I value myself and business.

There is plenty of business out there. You just have to renew you mind and make it happen for yourself.

Have a great day

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Comment by Andrea Cruz on July 27, 2010 at 4:29pm
This question is for Robert. who is FAS?
Comment by Mike Linkenauger on June 22, 2010 at 3:53pm
We do alot in Dallas. You probably know Logan Waller and Brenda Rogers, as couple of our other agents over there. Short sales are definitely the wave of the future.

We just got an exhibitor booth at the 5-star conference in September, hopefully I'll get the chance to meet you out there!

Comment by Cindy Billman, CDPE, SFR, HAFA on June 22, 2010 at 9:13am
OK Mike - I just joined - I hope this is truly beneficial as I have been "preaching" for over two years now that short sales will overtake REOs and it is happening in the Dallas-Ft Worth area.
Comment by Mike Linkenauger on June 17, 2010 at 12:50pm
That's a question best asked to April Miklas, our agent coordinator. The Ask April group on our site is set up for this and that's the best bet for that, she pretty much decides when areas are filled up. That's also the reason why we created the official member level in areas where we are filled up in, as it serves basically as a waiting list to add new referral partners as we grow.
Comment by John Taylor MBA,CSP,HRC on June 17, 2010 at 9:32am
Hi Mike,

I heard a lot of good things about your company here in California as I know agents have received listing from your company. It is good that your company is not a mill like most. I believe in captalism but most of these companies are
of no value or benefit to us agents. I will join you company soon as I allocate xxx amount of money in my budge for marketing for new business.

I noticed on your website that Los Angeles is closed but I do business in the San Fernando Valley which is North of Los Angeles. I checked on your website to see if any agents work the Valley and there was not one. Please advise

Thank You
Comment by Mike Linkenauger on June 17, 2010 at 9:08am
Comment by Mike Linkenauger on June 17, 2010 at 9:01am
I'm very glad this was bought up. I definitely want to get in on this, as I'm one of those companies that charges $295/year for referral membership.

First and foremost, I want to say that I do agree with you 100% and have also personally been taken by MANY different membership things. and homegain are a couple that have taken ME for $1,000+/- and delivered little to nothing in return. I also have LMC's and HMC's on my team who have paid lots to Titanium with little more than doorknocking assignments in return. I was also disgusted after returning from the REO Expo and seeing tons of asset management companies charging hefty fees and again, delivering little to nothing in return. Many of them just collect massive membership fees and if they actually have ANY business they refer it to a handful of agents.

I've been wondering myself 1.) Why in the world would anybody sign up for this kind of stuff and 2.) Do these companies even refer or assign ANY listings.

How do you know The Short Sale Specialist Network is the real deal?

1.) We've blocked off membership in many areas of the country where we already have enough agents at the present time. We send all GOOD agents listing referrals on a consistent basis, and if we have enough in one area we will close it off. If we were trying to collect a bunch of membership fees, you would not see our transparency or us CUTTING OFF MEMBERSHIP. We don't want or NEED a bunch of agents, especially agents who we don't have business to send to. We like to have the best reputation in the industry.

2.) We do a Guaranteed Listings Program and will give agents their 1st listing assignment within 90 days. If you read the COUNTESS testimonials on our site, its pretty clear that over 80% get their 1st listing the 1st month. Probably 1/3rd-1/2 get one their 1st week or so. Our average agent gets 1-3 listings per month from us. Yes, we do show favoritism to agent who perform. Can you blame us, as we make MOST of our money off referral fees at closing!

3.) We actually provide valuable resources. There is not another company out there that has the short sale resources and tools for agents like we do, and we are constantly adding new stuff. The resources alone are worth the $295 annual fee for some agents.

4.) You will NEVER find an agent who says that we have not delivered what we say we do, we ONLY have agents saying good stuff about us. Ask around!!!

5.) We are independent of lenders to send borrowers to us for most all of our business. This means that regardless of that the lenders do, we have a constant stream of business ins ALL parts of the country that we refer out to good agents!

We do also offer a $95/year level of membership for areas where we are filled up on agents for the time being. We did not charge ANY membership fees until very recently, as we make our $$$ off referral fees at closing. This is because WE REFER LISTINGS OUT ALL DAY! The reason we charge a membership fee is because there are costs in providing the resources for our agents and also setting up their files. We have now only given three refunds, and ALL were pretty much at our request.

So, while most companies out there are duping people out of membership fees left and right, not all of us operate like this. Anyone who does a little research on us will find that we deliver what we say we do, and even MORE.

Comment by Steve Adkins on June 16, 2010 at 9:14am
Great topic John! I feel the same way. If these companies were so great, they would not need to charge agents up front. If they have confidence in their business model, there would not be a need for this! And I have had enough of these companies asking for money, that I don't have right now, just be be put on a list! If they had soooo much business that they have to recruit agents from all over the Country, then they do not need that money for "start up" cost, but could easily take a referral fee at the CLOSING of that property!

How many times have we all heard this same song and dance about this new "special" program or training they we just cannot live without? I admit, I fell for it a couple of times last year and it costs me thousands of $$$. Well, I have learned my lesson. No more, ever! I will sit at home with nothing to do before I put another dime in someone's pocket just to be put on a list!
Comment by Robert Todd Schroth on June 16, 2010 at 6:37am
I have to say that some companies that charge are scams, all they do is put their people out there calling you and harrassing you till you pay and then they dont answer the phone. USHUD is great with that and marketing on google as well. ABSREO is another. I know a few people that have paid their fee and got nothing.... not even a BPO. I did pay FAS and have gotten a few listing right away and bpos great company to work with. Old Republic paid them nothing yet but time will tell. You just have to watch who you pay and what the cost is.

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