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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Noel, I have done lots of research and have never come accross any bio's. If you ever see it again, please let us know where it is. I have requested it from them on these forums several times and there has been no response. I am floored by their disappearing act, it was better than any magic show on the Las Vegas strip!
Hi Noel,
What are the credentials/bios of the officers of this company? Would you please post this info on the forum for all to see? Also, where did you get this information from?
Noel Cash > Arlene Garcia HannerMay 3, 2009 at 5:32am
Hi Arlene- There have been a few threads in this forum about them. I went back to their site for the bio information and it isn't there so I'm assuming I read it at the site and it is not there now or I read it in my preliminary research on the company. I had contacted them a couple of weeks ago and read everything I could find on them. I am sitting on the fence and like everyone else have been $200'd to death by everything under the sun in my business and have not pulled the trigger and followed up on the sign up. There are people in this forum that have met or know about the company management and have posted positive things in REPRO about them. Unfortunately as time marches on that is dwindling. I'm hoping they get up and running soon and it's a huge success for all. I have some reluctance because on top of the % there is a transaction fee as well as the monthly fee for a program I really am not interested in signing up for but still on the fence.
p.s. the monthly program fee I'm referring to is for an electronic doc program. There is a monthly fee on the zip codes once you receive a listing in the zip you are signed up with and that part doesn't bother me if it produces business but the monthly fee on the electronic doc program isn't something I'm interested in. To have one you have to be signed up with the other. Anyone with updates- please chime in!
Hi Bill,
Apparently you also got under Megan's skin. Have you heard anything ABF lately? I have checked all of the forums that Megan was active on before, and she has signed off on a couple saying she is now to busy to reply. Do you have any thoughts on this?
Vicki
I have been quietly listening for some time regarding ABF and have several concerns that I think need to be addressed. I have been doing research on ABF for a couple of months. I have been reading the forums on the net and doing my own search for answers. Some of the things I have found out are that the address that is listed with the State of California for the corporation is a very small space above a touristy strip mall just off of the Pacific coast highway near Newport Beach CA. I was able to see with Google Earth. It is not a very impressive location for a nationwide asset management company. It also appears that ABF’s parent company is Settleware. If you read the FAQ's on the company web page it is all about the e-signing software which is a product of Settleware. After finding out that ABF was owned by Settleware, I was a little unsettled (sorry I couldn’t help myself). My gut feeling is they are trying a new way to sell their product, which would explain why they keep reiterating that it can be used for all of your business and that you must purchase the product to do business with ABF. The training is also all about the e-signing software and apparently has little or nothing to do with selling REO's according to someone who has been through the training. ABF may very well be making an attempt to get into the asset management business, but what do they bring to the table? They do not appear to be having much success as they have continually pushed back the date of their first listing release.
Everyone keeps talking about the business model, what I want to know is who are the principles putting this company together? What are their credentials with asset management? That is the first thing I want to know about anyone I do business with. When I opened my own brokerage, the most important thing I had to offer was my experience and knowledge of the business. I have not heard one thing about the experience, knowledge or for that matter the identity of who is operating this company or anyone in management. Here in Las Vegas you have to know the right people to get into the REO business. I want to know that the management of this company is a known entity in asset management, with a track record and good reputation.
Another concern I have is an asset management company that would take anyone with the ability to pay for software training and software without regard to their qualifications or experience (and no training regarding REO policies or procedures) seems to me to be setting itself up for some really unhappy banks. If the management of this company doesn't include people with years of experience in asset management and banking who can be checked out and verified, then I can’t see what the value of this business is. I can go purchase much less expensive soft ware for electronic signatures. If I could just get one agent to verify results, which at the present apparently do not exist as not one agent has stepped forward with news of any listings, in fact an agent who was signed up with ABF several months ago and was singing their praises last month is now beginning to doubt if they are real and has been talking about the old deals they offered like 5 free zip codes, that were taken away, what is that all about?
As for Megan, I have read her posts and answers to questions as well as her non-answers to questions. Megan you have not always been kind to people who question you and have accused them of being malicious. I have nothing against you or your company; I am just an agent here in Las Vegas who is looking for answers. I would love to sign up with your company if I was confident that it could work, but I need more information before I part with my money. I think you could really silence the naysayers with more information. I am really not trying to be difficult; I am just a business woman who is asking for answers to business questions.
With that said, here are my questions for you:
1. Could you please post the names and background of the key managers of the company as that would make real estate agents lot less skeptical? Most legitimate companies have an “About Us” page.
2. Why does your website have a link to First American Home Warranty? It doesn’t work.
3. Does First American know you have them on your website? I asked one of the VP’s here in Las Vegas about your company and he had never heard of you.
4. Why are so many of the links on the website not working?
5. Why are your contracts with the banks confidential? National Default Services lists all of the banks on their website, as do other asset management companies.
I and many other agents out there thank you for your help.
Monica Oakes > Vicki SmithApril 30, 2009 at 4:12pm
Wow.I am very impressed with you.All I can say is Amen Church...
Vicki Smith > Monica OakesApril 30, 2009 at 5:01pm
Hi Monica,
Thank you so much for the encouragement. This ABF has really let me have it on other sites. Apparently they have something to hide. As soon as I posted my questions they have disappeared from every forum they were on before. Now I get these anonymous posts saying I have some kind of vendetta against this company, and that I am an agent who is starving and angry. Even if I was starving and angry it wouldn't change the fact that they are not upfront and honest. Oh, by the way, I am a happy, grateful person who just can't can't stand to see people taken advantage of. I am hopeful that I have saved a lot of Realtors from giving this company money!
Replies
What are the credentials/bios of the officers of this company? Would you please post this info on the forum for all to see? Also, where did you get this information from?
Apparently you also got under Megan's skin. Have you heard anything ABF lately? I have checked all of the forums that Megan was active on before, and she has signed off on a couple saying she is now to busy to reply. Do you have any thoughts on this?
Vicki
Everyone keeps talking about the business model, what I want to know is who are the principles putting this company together? What are their credentials with asset management? That is the first thing I want to know about anyone I do business with. When I opened my own brokerage, the most important thing I had to offer was my experience and knowledge of the business. I have not heard one thing about the experience, knowledge or for that matter the identity of who is operating this company or anyone in management. Here in Las Vegas you have to know the right people to get into the REO business. I want to know that the management of this company is a known entity in asset management, with a track record and good reputation.
Another concern I have is an asset management company that would take anyone with the ability to pay for software training and software without regard to their qualifications or experience (and no training regarding REO policies or procedures) seems to me to be setting itself up for some really unhappy banks. If the management of this company doesn't include people with years of experience in asset management and banking who can be checked out and verified, then I can’t see what the value of this business is. I can go purchase much less expensive soft ware for electronic signatures. If I could just get one agent to verify results, which at the present apparently do not exist as not one agent has stepped forward with news of any listings, in fact an agent who was signed up with ABF several months ago and was singing their praises last month is now beginning to doubt if they are real and has been talking about the old deals they offered like 5 free zip codes, that were taken away, what is that all about?
As for Megan, I have read her posts and answers to questions as well as her non-answers to questions. Megan you have not always been kind to people who question you and have accused them of being malicious. I have nothing against you or your company; I am just an agent here in Las Vegas who is looking for answers. I would love to sign up with your company if I was confident that it could work, but I need more information before I part with my money. I think you could really silence the naysayers with more information. I am really not trying to be difficult; I am just a business woman who is asking for answers to business questions.
With that said, here are my questions for you:
1. Could you please post the names and background of the key managers of the company as that would make real estate agents lot less skeptical? Most legitimate companies have an “About Us” page.
2. Why does your website have a link to First American Home Warranty? It doesn’t work.
3. Does First American know you have them on your website? I asked one of the VP’s here in Las Vegas about your company and he had never heard of you.
4. Why are so many of the links on the website not working?
5. Why are your contracts with the banks confidential? National Default Services lists all of the banks on their website, as do other asset management companies.
I and many other agents out there thank you for your help.
Thank you so much for the encouragement. This ABF has really let me have it on other sites. Apparently they have something to hide. As soon as I posted my questions they have disappeared from every forum they were on before. Now I get these anonymous posts saying I have some kind of vendetta against this company, and that I am an agent who is starving and angry. Even if I was starving and angry it wouldn't change the fact that they are not upfront and honest. Oh, by the way, I am a happy, grateful person who just can't can't stand to see people taken advantage of. I am hopeful that I have saved a lot of Realtors from giving this company money!
My Best Regards,
Vicki
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