WOW! ....It is amazing to me that agents are saying the are multiple thousands of dollars in the hole with these guys....If money is not received on the 32nd day for me I yank the rug until the money shows up....I know everyone out there is desperate to keep working and keep money flowing but this is getting way too commonplace to leave any money unclaimed for even 60 days. I am seeing stalled reimbursements with BPO, REO and direct Fannie/Freddie!. You really have to know that getting reimbursed on your work is solid at the minimum before you tell them you will take any work from them.... These companies know how to string you along and then they make sure that the "accounts payable hotline" is located in an empty room where no one will take the call, let alone check the messages! We have got to stick together as agents right now because this is getting more rampant as these companies continue to falter. Do double checks on ANY company with work for you, and after 30-45 days of no check, get after them...What I have found to work is I immediately file a complaint with the BBB of that area where the company is located. I will also call in on the main line and ask for the owner of the company, when the secretary asks who is calling just tell them your name and tell them you were just returning his call and tell the secretary that HE said you calling back was important! ....Works every time ;)...Good luck all!  

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          • I sent app to GRC and they said did not need anyone in my area. How can I find back door? Need one more asset manager.


            • GRC is not one of my clients, but I am approved on their network. Just be patient and seize the opportunity to perform great service when its presented. I became approved with GRC after  I did a BPO for an asset manager for free. I was even temporarily assigned the asset just for the purpose of performing the BPO. Now I keep my profile updated and will be ready when they need something else. Your "back door" will come when you are given the opportunity to perform a small service. Do it enough, do a great job, and for enough people and doors will open. Most people in the industry know one another.


              Just yesterday morning somebody from the data branch of Matt Martin asked for help locating the contact info for a tiny HOA that did not even cover the whole street. It took my whole morning just to track it down, nothing online, nothing sold recently. Title could not verify there was an HOA. Title co. did not even have it on their list of HOAs!! It was tough. By 8:30 pm not only did I get her the contact info and verify the asset was part of the HOA, but I got her the annual fees, payoff, vacancy, and a copy of the lien letter. She said she was going to fwd my name to Matt Martin for listing consideration if Matt Martin gets the asset. I told her my application is on file! Your back door is exceeding expectations when the opportunity presents itself.

  • lenders just dont need to be as ethical as we have to be..... if they were---- none of the last 6 yrs would have occured..... as we know----in our business its "buyer beware"... and now--- "realtor beware"....and chase your cks!

    • Isn't that the truth Rose.

  • Two theories...the first is that we are so busy scrambling to make money that we don't have time to do the basic housekeeping stuff like tracking who has paid and who has not.  Second...the contractor theory.  You know how they keep building even when they are not selling...."if we are building we are working and if we are working we are making money" .... maybe the same sort of thing...if we are cranking out the BPOs, we are making money.  Not fully recognizing that we are not really making the money until the check shows up.

  • Most real estate agents are great workers......but really bad business managers. Most are naive in thinking the people they are doing work for will look after them and treat them fairly. And these companies know there are thousands of agents out there wanting to do anything to get their foot in the door......that does not exist.


    Until we as real estate professionals start acting as professional business owners, this sad trend will continue.

    • I hear that Steve.....Believe me I am just now learning myself....

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