PAS Premiere Asset Services is cutting agents!

This is also on the GROUP discussion of Wells Fargo:

** I just got a listing agreement for a house I worked a long eviction for, put it on MLS yesterday and GOT FIRED today! Darn! I have been working so hard for PAS. I am crushed right now!!

Dear Agent,

Premiere Asset Services (PAS) is in the process of evaluating various markets and agent
performance including your own. Please be advised that PAS has made a business decision to remove you from our agent network. In doing this we will be
re‐assigning the following properties to different agents. Please remove these
assets from the MLS as soon as possible:

In reference to the following Listed files, you will have 15 calendar days to
submit any/all offers for review by PAS. Any property still in Listed status on
calendar day 16 will be reassigned. This includes the following:

You will still have access to the Agent Portal to continue maintaining those
assignments currently entertaining offers or in escrow as well as uploading
invoices for these assets. Any files that revert from Offer Pending, Offer
Accepted, or Under Contract back to a Listed status will be reassigned.

This letter serves as notice that you are no longer eligible to receive future
assignments from PAS. This is a final determination and is not subject to
appeal.

Thank
you for your cooperation in this matter.

Sincerely,

PAS
Network Management

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Replies

  • John, I wrote the same blog last week on this also. I really check to see who still stayed on, and it appears that the long timers were saved. The guy that replaced me was someone in his late 60's possible 65. I did talk to him on the phone, and he had no listing what so ever. He mention that he worked with Wells Fargo for 25 years. So in my thoughs he was the original guy with them. I also feel really bad about what happen. To me it was a honor working with them, but to give us no warning, that was terrible and then to take our listing away. They just could of let it ride till we were finished with all of our assignments. I really think many changes are going to happen with Wells. I had many changes in the Reo business from past clients.

  • I went to the old PAS REO portal site and it redirected me to Aspen iAgent  . that site wants me to pay a fee to register. Can you tell me if PAS is using this site to manage properties now? Do I have to register on iAgent to get back in the door? Do any other companies usse iAgent to manage  their properties?
    • Yes PAS is now using Aspen I Agent. I don't know if you will need to sign up there or not. And I don't know what other companies use Aspen. Sorry I'm not much of help on that. I still don't know why or what PAS has done with cutting agents. I am still asking around. I want to know who is remaining and why !
  • Oh My !!  This happened to me with them 3 years ago.  and I know I was doing a GREAT job. I sold every listing they gave me in less than 90 days. I never turned in a late Monthly status report.  I honored their partnership and made sure I dotted every i and crossed every t in an effort to protect my relationship with them. I had just paid over $400 to take the required Default School courses. And then came THAT letter.   I was crushed also. I was shocked.   And then they added new agents to list in my same marketing area. I think they are doing this so they can get the income from the new agents taking the classes required.  It just really sucks. I am sorry it happened to you too . I am still hurt by it.
    •     I Have to comment..... this "situation" has been happening since the beginning of reo's..... Its the nature of this game. We cannot rely on lenders to keep us around forever... In the end, they look out for themselves first and will always attempt to reduce their costs. Its only a matter of when they will get to it. Lenders, ( and all businesses) will consider costs and then determine if they can do it themselves........ then try test markets...... then decide. No one's "job" is forever secured......

           The BEST angle is to have many pokers in your pot, reo's, residential, short sales, buyers, investors......this way, no individual type of real estate can affect your finances if it dips.... or dissappears at any one time.....Balance , is the key word.

            Believe me... I learned this the hard way also..... homeq and countrywide did it to me when they closed up.... Ocwen did it to me when they changed their policies........ Just food for thought!!  Sorry all... it is difficult.

    • Sally have you thought of reapplying? It may simply be a function of supply and demand with the ebb and flow of assets and nothing against you.
  • I got the same email today.  I am shocked.  I have been with PAS the last 5 years. So dissappointing.  Something must be up.  I know at least 3 local agents in my area that also got the pink slip.
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