Have you heard of REO PRO CORP? If you are a Realtor and are breathing, I’m sure you’ve been contacted by REO Pro Corp via phone, email or social media. They claim to assign Fannie Mae (& all the major bank) listings and employ Fannie Mae asset managers. But before they assign any listings to you, you have to PAY “$400” to join their network.
They will call you and say they are asset managers and that they have an assignment for you. But, they cannot release the assignment until you pay them $400. Shame on them! Bank of America, Wells Fargo, Chase, Fannie Mae, Freddie Mac, HUD, etc… never call you and say they have assignments in exchange for $400! Don’t fall for this trap!
We contacted vendor management at Fannie Mae and asked if they did business or were affiliated with REO Pro Corp. On 12/31/2013, Fannie Mae informed us that they were unable to locate this company in their database. Fannie Mae does not outsource to REO Pro Corp nor employ their asset managers nor are affiliated. Neither is Bank of America, Wells Fargo, Chase or Freddie Mac. Neither of these companies outsources to REO Pro Corp. REO Pro Corp flat out LIES!
On Social Media, [YouTube] they have a supposed REO Agent named Pete from Atlanta, claiming to be very impressed with the REO Pro Corp process and that he has found success using their system. A realtor named Suzanne Casey (see photo) questioned the REO agents’ credibility. REO Pro Corp then ADMITTED that the REO agent on the YouTube video was a paid actor. Again, REO Pro Corp flat out LIED!
Do you think REO PRO CORP is LEGIT? Read the following REVIEWS from fellow Real Estate agents:
04/14/14: Thanks for the info. I was contacted today via email showing 2 REO assignments located on streets where I just sold REO properties. (Gee – what a coincidence). I asked them for their website so I could do more research. When I did a Google search REO PRO CORP came up as an ERROR code. The rep, David Coleman sent me an email w/a “secured” review page where all the comments had to do with how nice and “responsive” their staff was. Each comment was a version of every other comment – I think they need a new writer! Absolutely no feedback on the properties or how much commission was earned or the value of the service. I’ve been a broker for 25 years and in my opinion, this is just another bunch of slackers looking to make a quick buck off the backs of real estate professionals.
03/29/14: I received a call from Mike McClean from REO Pro. Before he really got started I told him that if this call cost anything I am not interested. He said that he had a REO for me and gave me a street address and asked if I know where it was. I told him that I didn’t, but I could find it. He said he would send me a email with the details. I said ok. That was three days ago, and I have not heard anything from him yet. I saved the number and called back and got his name. So I don’t expect to hear from him. Glad I check him out. Thanks,
03/27/14: They also offer me 2 listings today and I check one of them and was sold on 03/07/14 and it was a probate, so I came to a conclusion that it was an scam. REO PRO CORP IS A SCAM
03/04/14: The office address they advertise in their spam email is a Regus virtual office. Wow that’s impressive. http://www.regus.com/locations/business-centre/delaware-wilmington-downtown
12/13/13: Seems there is new kid on the block to be aware of. REO Pro Corp or http://www.reoprocorp.com . They called me today and the guy said he was an “asset manager” but sounded scripted with a sales pitch. I could also hear plenty of people chattering in the back ground, like a call center. Said he had an assignment. Gave me a street as a hint then moved forward to give me an entirely different address. The bottom of their webpage has “HOMEPATH” on there. He told me they worked with all the banks including FNMA and Freddie. I told him I’m FNMA direct, they don’t outsource anymore. Anyway, of course in order to get the assignment, I had to pay a one time fee of $400 as an equity investment fee. But would not have to pay anything after that. I told them no thanks. May want to check them out and get the word out quick.
Now that know the truth, SHARE the wealth. Forward this to a fellow realtor.