I just received a call from a representative from Absolute REO Solutions. There is a $295 fee associated with their 'service'. Does anyone know if this is legit or if it's a scam? I'd hate to throw away nearly 300 bucks.
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I just don't understand how they manage to maintain an average rating of A + or -? I did onetime see their rating drop to a B, but that was the lowest I ever saw it drop.
Jodie Carpine > George A. Del CidMay 29, 2011 at 10:33am
They no longer have a BBB rating!
From their website I clicked on the BBB indicator and found this...
On April 22, 2011 the accreditation was suspended due to failure to respond to one or more customer complaints filed with the BBB and failure to eliminate the underlying cause of complaints on file with the BBB. The matter will be reviewed by the BBB's Board of Directors at its next meeting.
I just got the call today also....telling me they have listings in my area. The same old do the bpo and you will get the listing. They talk with you like you are new to reo and have not receive listings before. They really prey on the poor new agents whom do not know better....
I got a call yesterday, same ol' story. They have a (fake) BPO and wanted to get me signed up for REO's. I can't believe they are still in business. They need to be in jail for fraud. The guy on the phone said he was from AREO or something so I kept trying to get him to say the whole name and when he said Absolute REO Solutions I told him I found from blogs what they were about. He hung up on me at that point, I didn't even have to hang up on him. It's so sad Realtors are still signing up with them and are being scammed. Money is tight and they are robbing us.
Here's a good one about Absolute REO. Just got a call today "to let me know that a new asset that is in pre-foreclosure, with a very high likelihood of becoming REO, came up in my zip code." I was told it was very time-sensitive and I would need to be available first thing Monday morning to take action. Also was told that asset assignments were up 34% in my zip code over last year (which by the way, was ONE unit last year - they told me they only had one all year). So, was told they really want me for their team, and was asked about how I would market the property to get it sold as quickly as possible (felt like I was being interviewed). Then came the 'hook' when he asked for the $295 set-up charge to get started with them. What a crock. Meanwhile, as he was talking to me, I was signing in to REOPRO and checked on Absolute REO, only to find that they are still not delivering what they promise. Thank you REOPRO for providing the info. The end of our conversation went like this: ME - "I read on REOPRO that you guys are not delivering listings, or even bpo's in most cases", HIM - "Uh-uh-uh", ME - "so, I will be glad to work on any assets you can give me, but, I don't pay upfront fees. See, most of the time an upfront fee is just a scam. You aren't trying to scam me, are you?." HIM - "I"m sorry we can't work together...."dialtone
Mike, there are so many crocks in this business now and only if we bring them to these forums like REOPRO, many real estate agents will save their Realtor's dues. You would not believe, half of the people left Realtors Association in many areas because they can't afford to pay their annual dues. And all this money is draining out to fraud REO companies. I like your question “You aren't trying to scam me, are you?”
Gina Francis > Mike WyckoffMay 19, 2011 at 11:18am
I got a call a couple of days ago. I let him tell me that there was definitely a REO listing in my zip code and that if I would just sign up I would get it. I told him I knew all about them from the blogs and he said you can't believe the blogs that everyone was out to get them. I told him give me the listing and I will double the $295 to them. He hung up. I am glad we are all protecting eachother on these sites.
Replies
Has anyone ever received a listing from them?
I just don't understand how they manage to maintain an average rating of A + or -? I did onetime see their rating drop to a B, but that was the lowest I ever saw it drop.
They no longer have a BBB rating!
From their website I clicked on the BBB indicator and found this...
Find out more about Absolute REO Solutions, Inc.:
BBB Accreditation
BBB Rating
Business Contact and Profile
Business Management
Additional Locations and Phone Numbers
Customer Complaint History
Government Actions
Advertising Review
Industry Tips
BBB Copyright and Reporting Policy
BBB Accreditation
On April 22, 2011 the accreditation was suspended due to failure to respond to one or more customer complaints filed with the BBB and failure to eliminate the underlying cause of complaints on file with the BBB. The matter will be reviewed by the BBB's Board of Directors at its next meeting.
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BBB Rating for Absolute REO Solutions, Inc.
This business has no rating at this time because BBB file information is being reviewed and/or updated.
Click here for an explanation of BBB Ratings
Pasted from a href="http://www.bbb.org/chicago/business-reviews/financial-services/absolute-reo-solutions-in-chicago-il-88364117">http://www.bbb.org/chicago/business-reviews/financial-services/abso...;
Glad you didn't fall for their Bait:)
I got a call a couple of days ago. I let him tell me that there was definitely a REO listing in my zip code and that if I would just sign up I would get it. I told him I knew all about them from the blogs and he said you can't believe the blogs that everyone was out to get them. I told him give me the listing and I will double the $295 to them. He hung up. I am glad we are all protecting eachother on these sites.
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