Dustin McQuate replied to Barry Weymouth's discussion Should I sign up with companies to gain REO's?
"Don't pay.  It has never worked for us and we have been an experienced team for 7 - 8 years.
 
If you aren't in REO now, you may just want to focus on trad RE.  I'm still selling REO cause we already have the clients and MD is getting hammered with…"
Feb 10, 2014
Dustin McQuate replied to Dustin McQuate's discussion PAS/ Wells Fargo
"Interesting.  My biz partner just told me that he believes that Buffet is a BIG stockholder of WF.
I cant believe that any agents make money with the splits for the big brokers.  I actually know another PAS agent that is leaving a big broker to come…"
Jan 2, 2014
Dustin McQuate replied to Dustin McQuate's discussion PAS/ Wells Fargo
"UPDATE:  broker mgmt. provided no reason for our "de-activation" aside from "many recent de-activations were due to paying contractors directly for jobs of $500 or more and not using 3rd party vendors".  We have always used 3rd party vendors and onl…"
Jan 2, 2014
Dustin McQuate replied to Dustin McQuate's discussion PAS/ Wells Fargo
"Seems there's no doubt that PAS has an unfair and inequitable process for "cutting" agents."
Dec 15, 2013
Dustin McQuate replied to Dustin McQuate's discussion PAS/ Wells Fargo
"I'm on the fence about getting back in, but we're going to try.  Truthfully, our HMCs manager and regional VP seem to care more about getting us back in than we do.  You may very well be right, but the guys I know at WF are tigers."
Dec 15, 2013
Dustin McQuate replied to Dustin McQuate's discussion PAS/ Wells Fargo
"Other agents in our market think the same thing.  One in particular who currently works with PAS told me she will most definitely contact an attorney if/ when she gets cut.  How PAS handles their cuts really shows the complete lack of concern for th…"
Dec 15, 2013
Dustin McQuate replied to Dustin McQuate's discussion PAS/ Wells Fargo
"Yup, Christian is right.  Turns out we were cut.   
PAS started re-assigning properties approx. 36 hours before we actually received the termination notice.  We received no explanation whatsoever in any of the communications.  We get to keep working…"
Dec 13, 2013
Dustin McQuate posted a discussion
Anyone else have a recent spat of reassignments?We've been with PAS for approx. 3 years and have never had an asset re-assigned.  Then yesterday and this morning it seems that we have had 4 assets (possibly more to come) re-assigned to other agents.…
Dec 12, 2013
Dustin McQuate replied to Charlene Hammonds's discussion REO companies paying 1.25% commission
"We do and will continue to do so.  It's encouraging to hear that other agents are pushing back.  Several very established REO teams in my market are shifting back to traditional sales now that the market is improving.  I think that REO sellers forge…"
May 1, 2013
Dustin McQuate replied to Charlene Hammonds's discussion REO companies paying 1.25% commission
"You may find that getting 1.25% for an REO is a WORSE deal than $40 for a BPO.  An REO requires much more time, energy and expense and in fact we often LOSE money on some of the lower dollar assets.  REO is not all that it is cracked up to be.  We w…"
May 1, 2013
Dustin McQuate replied to Mike Turner's discussion Very Interesting Topic(REO agents risk scrutiny under AG settlement)
"Thanks very much for re-posting.  Good, informative read.
Hopefully the unscrupulous REO agents get reprimanded as they give the rest of us a bad name.  
Having said that, the majority of REO agents I know are ethical, hard-working individuals who c…"
Jun 18, 2012
Dustin McQuate replied to Gina's discussion Lamco- Lenders Asset Management Company
"Nothing but only been with them for a bit.
Should have known better than to pay to play.  None of our cleints have come from a pay service/ site.  Live and learn.
 
Just saw another thread here with an FBI fraud line.  Got to wonder if some of these…"
Jan 27, 2012
Dustin McQuate replied to Gigi's discussion REO PROS!!! Who was your business reference?
"We literally fell into Countrywide and did a good job.  Loads of AMs that were willing to write testimonials and allow us to use them as referrals.  Doing BPOs is a good place to start I suppose, but most of our clients seem to be more concerned tha…"
Jan 27, 2012
Dustin McQuate commented on Brian Headrick - NRBA, A-REO's blog post BPO companies not paying?? FBI Complaint link Attached
"Good to know.  May need this in the near future."
Jan 27, 2012
Dustin McQuate replied to John Shipstead's discussion PAS Premiere Asset Services is cutting agents!
"^^^  Thanks for that Eric!
 
I just searched the agents in our area, and I am actually quite surprised.  There are defintiely some 'normal' agents that have REO listings with WF.  I guess many of the sentiments posted earlier are correct and assignm…"
Jan 3, 2012
Dustin McQuate replied to John Shipstead's discussion PAS Premiere Asset Services is cutting agents!
"We are a PAS approved team with a few asssignments.  I feel bad for all that have been 'fired'.
 
For what it;s worth, at this year's Five Star, WF did say that they have steadily decreased their REO nimbers over the past 3 years (I believe).  As so…"
Jan 3, 2012
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