Started by BAYO OSHINNAIYE :
Who knows "Team Lear" as asset management company: I received a call today from an Asset Management Company "Teamlear" from Colorado. The spokes person, Ms. Jordan claim she is the asset Manager, that she wants me to do BPO for her company and that all the BPO's l do will result in REO which l will be listing for them. She furher said that she will be requesting me to deposit $400 for the home maintanace, a one time fee. Then l will pay $54.00 for the software to use for their program. I do not belief her, but has anyone heard about this company or did any business with them? I know am not paying any money to them.
Are they fraud or real? They have a website: www.teamlear.com
Replies
check out the webistes...they are so similar
http://teamlear.com/
http://reoprocorp.com/
I have attached the useless document Brandi sent me. Here is her email if anyone wants to have fun with it: bmarshall@teamlear.com
Money Back Guarantee.pdf
A 'Shawn Levy' just called me & tried the same scam...$449 deposit fee for property maintenance to receive 2 listings, but I need to act now, because his bank won't let the opportunity wait. LOLOL. Posting his email here in the event agents would like to double the fun: slevy@teamlear.com.
One more thing. Like I haven't posted enough. The two they offered me were in the same zip code as my office. How about the rest you? Same zip codes?
Could you imagine if Fannie Mae or some other big asset management company called and we told them we didn't believe who they were? They wouldn't send guarantees and call back twice to follow up. They would laugh at us and move to the next agent. That's how you know it isn't real.
They have changed their software fee to $49.00
I got the call this morning. I simply told her I was with clients and asked her to email the info.
I love seeing an "Asset Manager" talk like this... it seems so legit. So without further ado...
Hi my name is Shelly Patterson, asset manager with Lear Disposition Group, So I'm calling regarding a few properties that I have obtained from our legal team that corresponds with the courts on a daily basis. These properties are in the last stage of pre-foreclosure and the lender is requesting for me to assign these to a qualified and experienced listing agent who has worked with REO's before.
So what the lender is looking for is an exterior bpo to be performed to determine the fair market value, an updated occupancy status, and then for you to list and market these properties. Completion of these bpo's within 72 hours is necessary for assurance of the listing once ownership has shifted from the current owner to the bank. The only caveat is the bpo. You must provide me with a solid bpo, and provide comps that best suit the subject property. As your asset manager, it is my responsiblity to keep in communication with you and inform you once ownership has shifted.
Okay so lets discuss commission,,, it's pretty simple, 7% is what the lenders pay out- 1% goes to my company and the 6% goes to you. Now that would be split 50/50 between yourself and the buyers agent unless you bring your own buyer to the table or act as a dual agent. My company gets a seperate commision from the lender upon closing , and we do not charge any fees or take any commission splits from you.
Now I don't expect my agents to stress themselves with handling all of the necessary trash outs, repairs, utilities, landscaping, maintainence, nor would I expect you to have to handle the reimbursements between yourself and the lenders. I take care of all that for you. Now the only thing that you are responsible for is a one time fee which comes to a total of $449.00. Now the $400 is a refundable deposit that is put towards assisting with the costs of the property preservation and maintainence. My company puts up the remaining costs. Now we guarantee that you will receive at least 3 REO Llistings over the course of 12 months- if you do not receive 3 REO listings, you reserve the right to request a refund of the $400.00 deposit that was paid. Now the $49.00 goes towards the software that we lease from the lenders which allows you to receive and complete assignments, receive listings, and be in contact with the lenders directly. It is not a reoccurring charge.
And within the first year if you do not receive a minimum of 3 listings, you can request a refund and get fully reimbursed for the money you put forth. But working with me, I guarantee you that you are going to get alot more than just 3 listings within the year, lets strive for 10, how does that sound?
Shelly Patterson
Asset Manager
Now... for those of you who are new to real estate... this is called a sales pitch.
Someone named Faith from LDG (Team Lear) 1-720-515-7037 called me two days ago, used the same exact wording, to the letter, I played along and she transferred me to Grant who asked for my credit card. I gave him a double barrel full, told him in no uncertain terms how they are jackholes (SFW version)..
Their pitch has five sentences starting with the word "now". Now, here's the deal. Now, this. Now, that.
*update- I received an email from team lear that my account has been deactivated. I emailed them back and stated that I had their BPOs that they requested but have not received a response. For the record, I did not do the BPOs because this is so obviously a scam. As an agent who does actually sell REO, no legitimate asset manager will ask you to pay for anything other than to sometimes turn on utilities but they are even doing that more and more themselves because it is easier for their accounting.
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