Since all of you know, my primary obsession right now is getting paid from these companies. Since I am not the only one who has not been paid or is being paid at a very slow rate, I was wondering....
Who out there are the top 10 providers that this company owes money to? I just wanted to try to get an idea of what they really owe...Feel free to inbox me with your responses.
I will just admit right now what a sucker I am and tell you that currently mine is sitting at about $5200 but they have promised to pay me $800/mo now until it gets caught up. So...beat that!
I have called and one day last summer I received an email that I was going to get a check on Sept 9,2016. Well that date has passed and still no Check. They owe me more than $2600.00
Just so you all know, we are now up to over 60 agents and over 90K(+) in collections. If we can make it to 100K or better in collection, we will pull the trigger with the collection attorney and begin collection efforts. If you haven't already, please share this thread with your colleagues and let's work together to get everyone paid.
What I would like to know is, who are their clients? Who are they getting these order requests from? If they knew they were giving their BPO business to a company that doesn't pay the agents, maybe they would send the orders to a different BPO company. One that PAYS us.
Yesterday I got an email from First Valuation asking me to do a BPO close by. I told her I would have to be paid within 45 days. She emails me back " I can definitely agree to send payment within 45 days." Next 10 minutes, I get 9 orders accepted on my behalf . I immediately came to this forum to see how the past due payments are going. What do I see?They are NOT going anywhere. So I emailed her back and told her " Even if you paid me, it would be a disservice to all the agents you owe money to for me to do this work. That would help your company stay in business. Please remove me from your vendor list."
I wish we could notify THEIR clients.
a mechanic's lien on the deed to the property WOULD notify their clients - however that is a crappy way. I have been trying to obtain some information on the discovery from the federal lawsuit but so far not happening. This would identify some of their clients. However truthfully they could not be held liable for payment from BPO whether as clients they paid BPO or not.
AND BTW this might be considered tortious interference on the agents' part... Tortious interference, also known as intentional interference with contractual relations occurs when one person intentionally damages someone else's contractual or business relationships with a third party causing economic harm. There are some hefty penalties that can be levied in a case proven.
These guys have been around and scamming for so many years they must have some system figured out since other scam companies tend to get outted and then fail rapidly.
Sally, it's a slow, step by step process however, notifying their clients is a part of the over all strategy we are considering with our collection effort here at REOPro. Per our collection attorney, the process in Colorado is pretty straightforward and unambiguous so, we work the process. Step # 1, we need to get enough agents on board to work together to amount to 100k or more in unpaid BPO fees. Right now, we are at 60+ agents with like 90,000.00+ in unpaid fees so....we are almost there to start collection activity against them. Please like this post and share it, your help in any way is appreciated.
For those of you who are interested, we have accumulated about $75K in agent debt and have over 50 agents on board with us. If you are owed any money from BrokerPriceOpinion.com or First Valuation, please give me a call at 615-456-9233 or send me an email at John@JohnGSellsHomes.com.
If you know of any agents who are owed money please feel free to forward John's contact info to them and encourage them to reach out to him.
Please forward this forum thread to anyone you know who may be interested. Thanks!
They owe me last I looked was approx 1500 and they told me that they would pay me $200 per month and have not yet, that was a year ago
I am not sure how you are going to do better than a federal lawsuit that was started against them a few years ago. I used to call up and check every now and then as they were asking for a class action and was in the process of discovery. Sent them information on numerous realtors they had ripped off. I knew in advance to not get involved with them in the first place.
Not a lawyer here but you should have consulted someone about where to file your suit.
Also a mechanics lien on properties - have to be careful some states have a finite time period to file a lien. But trust me when some client finds out there is a lien on the deed heads start to roll because they PAID BPO/FirstVal to obtain a BPO ....
BPO/FirstVal has a 3rd name out there but for the life of me I can't remember it right now.
Contrary to your broker's opinion Abraham Joseph - the entire BPO industry is NOT like this and many companies pay weekly, every 10-14 days and 1x per month on a regular basis and no one chases their money. More and more companies are going to direct deposit as well. which means it is in your/your broker's account same day as issued.
Virtually no BPO leads to a listing so please don't fall for that one. And BPOs are utilized for a vast larger industry than merely an REO property.
BPO/FirstVal has a huge bad rep for years and years with many BBB complaints as well as other complaints.
I m owed over 6K and they used to pay me 800/month until I stopped accepting work from them. They have not paid me since January. Much of the work they owe me for is back in the beginning of 2016. I would love to shut these guys down. They are a Colorado company and they have stiffed hundreds of us! I hired an attorney, did little to no good. Have to go through small claims. Its such a pain. They said my account is being re-evaluated. I am going to be forced to sue. Don't be ashamed....they are sneaky calling and promising to make good...you feel hostage to them just to get your pay. I make it a point to tell everyone what a crook Walter Coats is!
I m owed over 6K and they used to pay me 800/month until I stopped accepting work from them. They have not paid me since January. Much of the work they owe me for is back in the beginning of 2016. i would love to shut these guys down. They are a Colorado company and they have stiffed hundreds of us! I hired an attorney, did little to no good. Have to go through small claims. Its such a pain. They said my account is being re-evaluated. I am going to be forced to sue. Don't be ashamed....they are sneaky calling and promising to make good...you feel hostage to them just to get your pay. I make it a point to tell everyone what a crook Walter Coats is!