SingleSource Property Solutions

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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              • I agree, I love them. New at the REO, but Always learning:0) I'm a pro at BPOS.

                I really like doing them, if they paid more, would enjoy doing for a career!

                • Are you signed up with Clear Capital?  The BPO's used to pay $75 for an interior, I haven't done one for them in a while.

                  When I did a lot of BPO's , they used to send me 5-10 per week.  Your scorecard drops if you get orders and don't accept, so I rarely see orders now.  They pay monthly and were a good account.

                  • I'll try them out. Thanks for the info. I have been only doing BPOS for Single Source, because I was getting around 12 a week. But some weeks now very few orders. And they auto assign. It's very tough when the companies e-blast.

                    By the time I log on there gone!

                    I use to do all of my past Broker's BPO orders, while he got the REO listings. I've wised up now. And now with a Great Broker who cares about his agents:0)

                    I love that we can connect with other agents on here, without too much judgement:0)

                     

  • Hi Bettie,

    I think this is the case all over.  I have REO inventory and closed 2 within the past 60 days with SS.  BPO volume has dropped significantly.  Hang in there! 

  • Has anyone's BPO orders from Single Source in Calif. Dropped off recently? I do agree 1.75% commission, is tough. And that's before broker's cut.

    If there going to charge a 25% referral fee, they should pay their listing agents 2.5%, not 2%, and not give the buyers agent 3%.

    2.5%/2.50 is fair and common in Calif. Seems to me to reward those who work hard for the Client, makes sense to me!

    I feel devalued. But what are you going to do in this market? And I'm new to this site, do you think by posting on here you get Blackballed?

  • I have had several properties with SS only one through american destiny. SS proprties  generally have not been through American Destiny and the one I did get I also needed a paid membership on REOTRANS and with the slow reimbursment on this 60k proeprty I really made nothing.
  • You also now need to be on ResNet.  Which means another annual fee.
  • Who said Chase ever cared about anything but Chase... and a politician....lololol..... its a lost cause, theyre getting kick backs for Not looking.....I vote for working on deals w/ real people.... the reo market is close to non- existant as we once knew it... the abomination its become is WAY to risky-- even for me....I started in reo's 8 yrs ago.... and am happy to have stepped away fairly un-scathed..... all the fee's, threats, responsibilities and psycological help we have to offer to take someones home is not worth 1.5%-2% some companies are now trying to pay... then they ask us for a 500.00 membership fee.....nah----- I'll stick w/ Hud and my short sales...lolollolo........just my 2 cents......

    Warm Regards!

     Rose

    • Rose, I agree with you so much. It hurts sometimes to turn some of these companies down but I will not lower myself anymore to play their games. The way they seem to totally disregard our listing agreements and make everything so one sided is something else that some of them do.

      I prefer dealing companies that play fair and that allow me to do my job.

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