It took me three weeks to negotiate a CFK and get the property vacant, now altisource people in India are telling me that I will not be getting the listing!! When the CFK request was sent to me they said that I'll be getting the listing. Does anyone know how Ocwen operates now? I know everything is changing with them but I was wondering if anyone had recently experienced the same thing?!
I do think all Agents need to stop doing any work for OCWEN. They do not need Agents they need GO FORS. They have no problem using us for things they forgot to think about when they decided to list thier own properties without local Agents. They have preservation people who they use for CFKs and evictions now. (they do pay these people for this but were expecting the agents to do it for free just for the listing) Let the preservation people who are on thier roles do these pictures. Let them have their exclusive agent do the BPOs and CMAs for nominal fees. This will end if we are smart enough to take a stand. I mean how desparate are we?
They are now offering agents $6 to take pictures of their houses, the fees offered are just ridiculous.. I do love showing their houses and seeing water dripping from the roof to the floor and there is no one to call on it.. oh well
Ocwen has teamed up with ALTISOURCE. As a listing agent for OCWEN I was given an Affiliated Business Arrangement disclosuer statement to give to all buyers.
Ocwen now gives all of their listings to an Altisource Agent who works for them exclusivly. I am in Ohio and all listings are now sold by Altisource/ OCWEN in house. I was assigned 3 listings 4 months ago. Did all the work and property checks, CMAs and all else ordered by a listing assignment letter.
Now all the properties are showing up in the MLS as this one exclusive Agent's listings. I did not get paid for all the work I did. I was never notified at anytime that the properties would be listed by anyone other than me. I in fact have the assignment letter stating I will be the agent for all lisitng and marketing of the property. .
I am sure this is not a legal practice. I am also sure that everyone needs to turn down any and all BPO or CMA assignments from OCWEN. They are using local agents for the work, paying very little or nothing and keeping the listings for themselves. The BPOS and CMAs are the hard part for OCWEN when using one licensee in one location who can not possibly travel to all their properties and do BPOs and CMAs so the get local agents to do them for low low fees.. Another thing is we do need to protest this to our State and local Boards as well as our local MLS. H.R. 111, The Community Choice in Real Estate Act
H.R. 111 would amend the Bank Holding Company Act of 1956 and the Revised Statutes of the United States to prohibit financial holding companies and national banks from engaging, directly or indirectly, in real estate brokerage or real estate management activities.
On March 11, 2009, President Obama signed into law the FY2009 Omnibus Appropriations Act that permanently prohibits banks from entering the real estate brokerage and management businesses. BAN together or soon we will see all of the banks using Realtors for the time consuming task and keep the marketing and listing commissions for themselves.
I recently listed and closed 3 properties. As the broker, I made very little money ( about 1%). I do not feel the work involved was compensatory. The exterior maintenance of the properties was good. These listings if you get them are break even propositions at best.
I would like to see Realtors call their MLS and get OCwen listings off their MLS. Altisource is an auction house designed to get the public bidding. The public can bid on Altisource without a Realtor. All Ocwen needs is a show hostess becasue their banking on the buyer bidding without the Realtor. Complain to your MLS.
Ocwen, is the worst to deal with, They do have one agent here in florida that does their stuff, I was managing CFK's and some property preservation for them and if there is a problem they have the 800# you have to call and good luck understanding the thick Indian accent trying to tell you how to do your job out of a manual, its like calling tech supporty for your computer... They just sent out a email yesterday that was asking if anyone wanted to drive by inspections for pre foreclosures, then read down the email and it pays $6 per driveby. My problem is they will be around for a while since they are buying everybody and servicing alot of assets. But no listings for Florida agents...
I have been doing BPOs for them and here is Florida they seem to have one listing agent for all their listings, bad idea as the agent does not know what each counties real estate market is like, therefore they are hurting themselves by doing this. And they repeatedly call me to hold open houses on those properties, I told them the listing agent should hold the open house as it is "their" listing. They said the listing agent only represents the buyer... I have never been offered a listing from them and after reading and dealing with them who knows if it is worth it. WHY DO ASSET COMPANIES LIST WITH AGENTS WHO ARE NOT IN THAT COUNTY OR NEAR THE LISTING THEY HURT THEMSELVES BY DOING THIS....I do like the auto deposit Ocwen has but they do not tell you they take $1 for the auto deposit that they make you do...
I have been with Ocwen now Altisource for the last 3 years in Missouri. The fist 2 years hand over fist of listings and I took care of the property and kept it maintained. The first year the commission was fair, the second year they lowered it again and gave a property maintenance fee. After switching to Altisource they have dropped the commission AGAIN, give some other type of commission to you based on sale price... can't keep up with the way they handle the commission. NOW they have outside vendors that will "maintain" the property. I have had less then 10 listings from them in the last year. I have a new listing under the "new" guidelines and have had to complain about the upkeep of the property so much that they won't want to use me anymore. I always keep my properties maintained and in good condition for a quick sale. Not sure what will happen now. The new online offer submission is frustrating and trying to get them to accept an offer is almost impossible. I will still keep working for them, but what in the world are they doing???????
Comments
Ocwen now gives all of their listings to an Altisource Agent who works for them exclusivly. I am in Ohio and all listings are now sold by Altisource/ OCWEN in house. I was assigned 3 listings 4 months ago. Did all the work and property checks, CMAs and all else ordered by a listing assignment letter.
Now all the properties are showing up in the MLS as this one exclusive Agent's listings. I did not get paid for all the work I did. I was never notified at anytime that the properties would be listed by anyone other than me. I in fact have the assignment letter stating I will be the agent for all lisitng and marketing of the property. .
I am sure this is not a legal practice. I am also sure that everyone needs to turn down any and all BPO or CMA assignments from OCWEN. They are using local agents for the work, paying very little or nothing and keeping the listings for themselves. The BPOS and CMAs are the hard part for OCWEN when using one licensee in one location who can not possibly travel to all their properties and do BPOs and CMAs so the get local agents to do them for low low fees.. Another thing is we do need to protest this to our State and local Boards as well as our local MLS. H.R. 111, The Community Choice in Real Estate Act
H.R. 111 would amend the Bank Holding Company Act of 1956 and the Revised Statutes of the United States to prohibit financial holding companies and national banks from engaging, directly or indirectly, in real estate brokerage or real estate management activities.
On March 11, 2009, President Obama signed into law the FY2009 Omnibus Appropriations Act that permanently prohibits banks from entering the real estate brokerage and management businesses. BAN together or soon we will see all of the banks using Realtors for the time consuming task and keep the marketing and listing commissions for themselves.
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