Does anyone have experience in signing up with ABF and receiving REO and Short Sale listings? Any information would be greatly appreciated regarding if this is a good investment. Thank you.
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I, too, have some concerns. I think I would with any new start up. I'm giving it a chance to see how it pans out!
I did want to add a little info to your post, as I have also been communicating with Marie.
-There are 2-3 agents per zip code, depending on the population and number of foreclosures. You do not pay the $99 monthly fee until you actually begin receiving listings in that zip code. (However, you do keep paying even if you currently have no listings in a zip code that you previously had a listing in)
-E contracts is actually incredibly helpful in daily business. If it is anything like the program that I currently use, the training on your end is extensive because you can use it for contract/ file management. On the other end of the equation, the signer just needs to sign and its very easy for them.
I definately appreciate the words of wisdom from all of the experienced REO agents out there! Thanks!
Bill. Thank you so much for sharing from you wealth of thoughtful knowledge and experience. I really appreciate your time and concise, objective information. I too would like to see more positive information as for now I don't think I need to teeter any longer with the decision of whether or not to join.
Again, thank you!
Suzanne www.HermannLondon.com
I am currently in the process of signing up with them. Their fees seem reasonable and they seem to have a good concept. I'm a little bummed about the mandatory e-signing only because I already use a company that I am very happy with for e-contracts. I have everything set up through ctme (e-contracts) and have already paid for the year.
I'm interested to hear about whether many lenders are signing up with them and what we can expect come April. I'm also interested to find out how many agents they are signing per zip code. Perhaps Megan can answer some of these questions?
I signed up this past weekend and tried to get the training on line to work and could not. I emailed the support several times yesterday and left messages, but no one returned by calls. I was told they were going to start receiving the listings in April. This is a new company and they are trying to get their agent contacts built up around the country. I know people who are putting out a lot of money each month for repairs on their listings (30-50k) and have a delay getting it back. Paying 99 for a zip code seemed easier to me than dealing with that up front work.
I just saw your post and had a question. I to completed the training back in December for e-signing and the ABF training as well. Is there anything we still need to do or is there someone that we can contact to find of our status?
Leonard Retamar
Broker/Owner
Exit Prime Realty
Miami, Florida
Maybe you can clarifiy something for me. Does your company provide a referral where the bank has agreed to use me to list thier REO or are you a lead generation company where you provide me leads and it's up to me to obtain the listing?
Hi Megan. I really appreciated your post today offering clarity. I made the original post and have been contemplating signing up with ABF. I emailed my teammates today in our group and are getting our questions together so we can hopefully make the commitment. I also am appreciative for the additional responses to this post. Thank you!
I was informed couple of days ago about ABF from a former agent of mine. She told me that the HQ is in Newport Beach, CA and that the owner (also with Exit Realty) supposedly have contacts with some of the banks. She is now in charge of a few states where she is trying to get new memberships. She said their goal is to reach 4,000 active members before they can get the banks to assign more REO and approved Short Sale listings to them. The initial application fee is $119 (I believe it is around there) and then you will be charge that $99 upon you receiving your first REO listing from that zip code. Now, I don't know when we will actually start getting anything.
I've never heard of them but checking out the website I think it's crazy to pay $99 per zip code after you paid the signup fee. I use REOTrans & cover a few zip codes for only $53. I curious to see if anyone is using this service & if they've received any listings.You can signup for free with First Preston to get pre-approved short sales, they're only accepting agents in certain areas. Good Luck.
Replies
I, too, have some concerns. I think I would with any new start up. I'm giving it a chance to see how it pans out!
I did want to add a little info to your post, as I have also been communicating with Marie.
-There are 2-3 agents per zip code, depending on the population and number of foreclosures. You do not pay the $99 monthly fee until you actually begin receiving listings in that zip code. (However, you do keep paying even if you currently have no listings in a zip code that you previously had a listing in)
-E contracts is actually incredibly helpful in daily business. If it is anything like the program that I currently use, the training on your end is extensive because you can use it for contract/ file management. On the other end of the equation, the signer just needs to sign and its very easy for them.
I definately appreciate the words of wisdom from all of the experienced REO agents out there! Thanks!
Lisa Crawford
Again, thank you!
Suzanne
www.HermannLondon.com
I'm interested to hear about whether many lenders are signing up with them and what we can expect come April. I'm also interested to find out how many agents they are signing per zip code. Perhaps Megan can answer some of these questions?
Thanks!
I just saw your post and had a question. I to completed the training back in December for e-signing and the ABF training as well. Is there anything we still need to do or is there someone that we can contact to find of our status?
Leonard Retamar
Broker/Owner
Exit Prime Realty
Miami, Florida
Maybe you can clarifiy something for me. Does your company provide a referral where the bank has agreed to use me to list thier REO or are you a lead generation company where you provide me leads and it's up to me to obtain the listing?
Suzanne
The Hermann London Group
www.HermannLondon.com
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