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
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 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.