TeamLear

I got a vm yesterday from a Kyle Biggs saying he is an asset manager with LPG and was referred to me by one of the lenders he was working with. He mentioned that he had several properties that they needed an agent to assign assets to in my area. I called and left a message to his extension, and was intending to ask him who the lender was. I got a call back today from another lady who said Kyle was out today and she was taking over the file. We talked briefly and she mentioned a lot of things that I would expect an asset management company to discuss, but then she said a couple things that threw up a big red flag for me... namely that they obtain 10% commission and allow their agents to take 6%... and that the agent could split that anyway they wanted with cooperating agents, and I immediately got suspicious, but the kicker for me was when she said that they would require an upfront fee of $495 which would be reimbursed with the successful closing. I told her outright that this threw up a red flag for me and I would want her to send me detailed documentation about her asset management company so that I could vet them and make sure that they were a legit company and that I don't generally agree to any outlay of costs on my part for listings without signed listing agreements. Anyway, I wasn't surprised that I got no followup email with documentation, and I don't expect to be getting a call back from the woman this afternoon since she knows I sniffed her out. I do hope other agents will check online before being taken in by scam operations because this company knows the lingo and for a hungry agent, they might be taken in (well... hopefully they would question when things sound too good to be true.)

This is a scam for real estate agents. They charge money up front and give you BPOs with the promise of a listing. You do the BPOs and you never hear from them again.

Do not accept the scam. Pay a fee to receive REO listings. I received several calls asking me if I sell REO properties and stating they were looking for agents in our area to handle business. They had 3 listings for me. I had to conduct BPO for banks and if they were accepted I would receive the listings. They guaranteed I would receive multiple listings. They charge a up front fee of $449 and it would be credited back at my first closing. This was to use their software platform and for them to service the listings.
I feel like a fool for falling for this I have been in business for decades and I should have not fallen for such a scam.