I am in Northern California. I went through their sign-up and at the end saw they wanted $200 so I did not sign up, then someone called me and tried to get me to join. They admitted they had no assets in California but were working on getting some, they said they work mostly with small banks and credit unions and said they would soon get so-and-so as a client in Southern California - but said they had nothing firm for Northern California. I said OK, call me back when you get some assets up my way. He implied I'd be missing out if I didn't register ahead of time. Whatever.
Cathy, I have been signed up with ABSREO for about 3 months now. Quiet at first, just recently sent me two BPO's and the AM is confident that they will turn into listings. Will keep you updated.
I too filled out the application and did not pay the $295 fee. I thought the way the fee was disclosed after the application was completed was deceptive. Stephen Johnson called me the next day to tell me I had been "approved". He just needed me to pay the fee. He sure talked the talk, and knew the lingo. Some of the answers did seem too good to be true? No referral fees, they will hire a property preservation company, some paid BPO's, a listing guaranteed in the 1st year or a refund!
He claims they have signed a deal with the Independent Community Bankers of America - ICBA "4,500 mid-sized banks and credit unions" to dispose of their REO's. I checked their affilates on the website, Absolute REO Solutions is NOT listed. I also talked to someone at the ICBA. They could not verify his claims.
When Stephen called me again, I asked for a referral. He gave me the name of another local agent. Turns out he also just signed up and has no idea if this company is for real either!
I hate to be such a pessimist, but this would not be the first company to pull this scam of collecting fees. Maybe they are just trying to expand nationally, but if it quacks like a duck...its probably a duck! I would like to hear about some successful listings please. Anyone can ask you to complete a free BPO for them.
Tina,
Whats the up date on your BPOs?
Did they turn to listings? What platform did you have to do your BPOs on? Were they done on the ABSREO website, or on a platoform website like REOTrans or RES.Net?
How indepth were these BPOs? Did you have to make adjustments or just plug your info in?
Thanks.
AC
Replies
He claims they have signed a deal with the Independent Community Bankers of America - ICBA "4,500 mid-sized banks and credit unions" to dispose of their REO's. I checked their affilates on the website, Absolute REO Solutions is NOT listed. I also talked to someone at the ICBA. They could not verify his claims.
When Stephen called me again, I asked for a referral. He gave me the name of another local agent. Turns out he also just signed up and has no idea if this company is for real either!
I hate to be such a pessimist, but this would not be the first company to pull this scam of collecting fees. Maybe they are just trying to expand nationally, but if it quacks like a duck...its probably a duck! I would like to hear about some successful listings please. Anyone can ask you to complete a free BPO for them.
Whats the up date on your BPOs?
Did they turn to listings? What platform did you have to do your BPOs on? Were they done on the ABSREO website, or on a platoform website like REOTrans or RES.Net?
How indepth were these BPOs? Did you have to make adjustments or just plug your info in?
Thanks.
AC
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