Wells Fargo

I was following some of the discussion regarding Wells Fargo and their current PAS agents.  I heard that, here in the Central Valley they had 3500 agent and that they are now down to 700 agents.  The only way you can join PAS now is if you are invited by a Branch Mgr.  They want to give like 20 to 30 REOs to one agent.  I was also told that they were going to start releasing inventory by the end of last year, then it went to Q1 - now we are heading in Q2 and I am still waiting for my call.

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    i sure would like to get my hands on some commercial real-estate paper assets on income producing properties. the property has to be 50% occupancy up to 85%. also the property can be upside down . what i mean about that is the appraisal is lower than the property value. or the property has a balloon on it and ready for maturity now. i can be reached at onealhodges@hotmail.com i can close in 30 to 45 days.
  • Fatima,
    I apologize for not seeing your post until now! I usually get an email if someone posts. We have quite a few agents in our offices working REo's and none that I know are working with Wells. Tried to get on board thru a regional manager 18 months ago. He was recruited by another company and I was left with out a lead into the company.

    Again I am sorry and didnt mean to not follow up on this post.

    Greg G

  • Been with them for about 3 months now, and NO such thing as a referral fee. They did reduce comssion to a total of 5% vs 6%. However I Like the fact that they don't dictate where the comssion goes. I understand from a buyers side that you are working your tails off writing offers; however from an REO listing side there is much more than just a sign in the yard that goes into earning the listing agent commission. Im looking foward to more assignments they are a Great Company to work with.
  • Fatima,

    Do you know how many agents they have in Seattle? Do you know how to contact them to find out how to apply?


  • I was with PAS from 2006 until December of 2009. First my company changed brokers and names so I was let go and then my Wells Fargo rep was in the process of referring me and then she was let go. She had been with them for 9 years. I guess it was meant to be. Back to square one! LOL
  • I didn't mean that it was a priviledge thing. I was relieved by getting a listing which means that I have 20 to 30 more to go for the end of this year....Meaning a 100 plus REO's again....Even in slow times.......Getting a listing is like being in a spelling bee and spelling the word homologumena correctly. Just joking......
    • I know - and I was sincerely paying you a compliment! Getting an REO is like getting a gold nugget in 1849..
  • PAS agent here, received a PAS REO today......The assignments are slowly coming in.....Guess that I'm one of the elite or because of the beard....We are down to only three PAS agents in my town......
    • Congratulations! Good for you Donald! I'm still hoping to get on with them through my contact at Wells.
  • I worked with them for over 1 year under my previous broker ....until he decided to work his own listings. The good part about that is ... I learned the system. I am on the "waiting list" but then, I hear it is pretty long. Oh well... I have the experience of the PAS system and I am ready for that call!
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