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David Z.

  • 1 Review
  • 1 Helpful Vote
  • 0 Thank Yous

Experience: Business

Member since November 2015

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1 Review by David

TeamLear
11/25/15
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.)

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