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 don't know whether it is a scam or not, but read the previous comments on this site from other agents. While I may have missed one, I did not see any favorable comments concerning Absolute REO Solutions. Many agents commented on this subject. I considered joining, but opted not to (even before I found out how much they are charging). It would be worth it if you got some REOs from it, but several agents who did sign up and pay say that they got nothing from it. Look back through the comments, they speak for themselves.
John
I also received a call on yesterday from a Representative from REO Solutions. The script that the representative was reading from was inviting and really sounded sincere, but then came the $295 sales pitch. She said the Asset Manager was really impressed with my resume and background. The script went as follows: The Assignments are based on zip codes, no more than 3 Agents at one time are assigned to the primary zip codes, secondary zip codes can be changed at anytime, Listing Assignments on a rotating basis, no referral fees, no commissions will be changed, they are working with about 600 banks, she can have a BPO sent out to me in 24-48 hours providing the $295 is given either online or over the phone. Better Business do give Absolute REO an A Rating and they have had only 1 complaint so far. I have read other comments from other Forums and based on those negative comments i will not sign up with this company. I sent (2) emails to Stephen D. Johnson and he has not responded to either one.
Anyone have any positive new information concerning Absolute REO? I received a call on Saturday from Stephen Johnson and he is going to call me back on Monday. I found this blog while checking on them before I speak with Stephen.
John R. Wilson,
Carolina One Real Estate
John,
I was very happy to receive an invitation from them, but then I realized that everytime someone signs in, they get the email invitation. After that they will tell you to register online and you will be so excited to know someone has recognized your hardwork, experience and integrity. They send you a link - Once you enter your information, email, etc. You will receive another phone call. This one would be the sales pitch about their experience, guarantee and of course $295.00 - I was sold on the promise that I would be receiving REO;s and Bpos starting December 2009, and there was no referral fee but they would take care of property maintenance - but so far nothing has happened.
Summary: For what I heard - They are new, forming their group, charging their fees - giving nothing on return -
promising a refund, and hopefully working very hard to succeed in REO. Im not happy that once again I paid on promises - Congratulations you are doing your job. Find out more info and request some PROOF and references, that way we can clear the bad image for this company or request our refund... What a task!
To your success!
John Richard Wilson > Magda Robles CDPE,SFR,CRS,GRIJanuary 18, 2010 at 3:32am
Thanks Magda,
Obviously, we are all grabbing at any opportunity to improve our business and I was hoping that someone would jump out of the woodwork and have a positive story to share about this company. It does sound like they are trying to break into the REO business but in their promotion they infer that they are very experienced. They need to build up lender client base before they start selling their services. I cannot afford to pay for promises of business down the road. I need results now.
Once again, I do appreciate your input.
With kind regards,
John
I just recently, as in no more than an hour ago, was on the phone with one of ABS's agents and as each of you mentioned was asked for the $295 in addition to being offered the 1-year guarentee. Luckily, I was reviewing this blog before comitting however I did want to mention that I looked up the agent I was speaking too on Linked In. Well on Linked In, this person states he's an account executive in Chicago for a company called ACI? Now it's possible the post on Linked In is old, but I have to admit it did cause reason for me to raise an eyebrow. Especially since the name Aaron Minnema didn't appear to be to common on Linked In (only 1 listing) and it happened to be in Chicago (same city as corporate offices for ABS). Just thought I'd share my findings.
This afternoon I received a call from Aaron, explaining that the Linked In profile hadn't been updated. Now I can't speak for ABS's product or the frequency of disbursing, but I can say that thru my experience the "fly by night outfits" don't care enough to call and correct any wrong presumptions. From this call alone, I really do believe that ABS plans on being around, and when the opportunity permits they will meet any obligations they've committed too. No, I still haven't signed on as of today-but think this will be a company I keep watch out for in order to throw my hat in before their fees increase to much. Aaron again, thanks for the call.
I signed up 6 moths ago and two weeks ago they promised I would have an assignment by the end of this year. Nothing yet, so I decided to look them up on the BBB. They have an "A" rating. They are a new company and I believe they will be good but it just takes time to get things rolling. If their plans of limiting the amount of agents per zip code holds true, then this could be a good thing. I will keep you all posted as to what happens.
Gina Francis > David L. HenniganJune 20, 2010 at 1:20am
David, It is now 6 months from your posting. Any listing from company?
Replies
John
John R. Wilson,
Carolina One Real Estate
I was very happy to receive an invitation from them, but then I realized that everytime someone signs in, they get the email invitation. After that they will tell you to register online and you will be so excited to know someone has recognized your hardwork, experience and integrity. They send you a link - Once you enter your information, email, etc. You will receive another phone call. This one would be the sales pitch about their experience, guarantee and of course $295.00 - I was sold on the promise that I would be receiving REO;s and Bpos starting December 2009, and there was no referral fee but they would take care of property maintenance - but so far nothing has happened.
Summary: For what I heard - They are new, forming their group, charging their fees - giving nothing on return -
promising a refund, and hopefully working very hard to succeed in REO. Im not happy that once again I paid on promises - Congratulations you are doing your job. Find out more info and request some PROOF and references, that way we can clear the bad image for this company or request our refund... What a task!
To your success!
Obviously, we are all grabbing at any opportunity to improve our business and I was hoping that someone would jump out of the woodwork and have a positive story to share about this company. It does sound like they are trying to break into the REO business but in their promotion they infer that they are very experienced. They need to build up lender client base before they start selling their services. I cannot afford to pay for promises of business down the road. I need results now.
Once again, I do appreciate your input.
With kind regards,
John
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