SingleSource Property Solutions has joined with a company named American Destiny. If you sign up with American destiny they require you to pay 25% of your meager 2% commission. This means that the agent is working for 1.5% or less since they take so long to reimburse for expenses. Has anyone experienced this rip off?
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Yes, Just signed one listing. I have two others transfered from SS. But not set up yet. I have contact information. Nationstar has 500 files to work on, so giving them time.
Not legal? Heavens! If all parties agree in writing, virtually anything is legal. If you have a problem with it, DONT work with them.....I find Single Source to be awesome to work with. Sure a 1.5% fee on a $50,000 isn't even a car payment after miles are taken out. I look at it a different way. How many buyer leads can I get from the property? This listing might be awful, but one down the road I might get a $400,000 or more....1.5% of that is enough for me.
I meant it might not be legal not disclosing to all parties. I love Single Source also. That's why I need to be careful here. It could be taken the wrong way. Yes, I agree everyone knows what there willing to work for:0)
Replies
Try Altisource(Ocwen) as well, they take a little getting used to, but pay by direct deposit and you will get a lot of interiors @$65.
They just bought out Litton so they are sending a ton of orders--I get about 10/day, usually happens when they evaluate a portfolio.
Sandy:
It's the referral fee, or no business from Single Source. Is that correct? Doesn't sound Legal to me!
Someone needs to look into it.
But hope, by posting on here. We don't lose business:0(
Good times.
Single Source is great to work with, with some effort you can get both sides of the commission--which makes it 4.5%.
QC is strict, but if you are through on your BPO it will pass every time.
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