Before the latest REO hype started in the biz, there were genuine sites that an agent would register with in order to get REO business.
These days, listings are slow so these otherwise reputable companies are now asking for membership fees. Just another way to get a constant stream of income for the site.
Got a call from Bankers REO yesterday. The rep said he had a listing for me.
"Great, send it over".
"We offer blah, and blah and blah. We don't ask for a cut of your commission, blah blah."
"Great, send it over"
"We have our own platform and we want you to pay $350/year for that"
"Great, I'll be happy to take it out of my first sale."
"It's a great platform and you can put all your listings there"
"Great, I'll be happy to take it out of my first sale."
"You obviously aren't an inovative agent that we want to do business with"
He actually sent me a decline letter.
Yes, I decline to pay every numbskull that puts his hand out and asks for $350.
Show me the business and I'll show you the money.
PS This dude was from Illinois - same as another infamous scammer; ABS REO.
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