REO PRO CORP REVIEWS: Buyers Beware!


scamHave 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.reoprovideo 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.

~Christine Kempa, Kempa Group Realty Inc, Homer Glen, IL 60491

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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,

~William Frank Kornegay, Keyes Realty, Weston, FL 33326

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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

~Alberto Pacheco, Keller Williams Realty,

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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

~RK, Real Estate Professionals, Inc., Baltimore, MD

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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.

~Alma Gomez, Equity Group Real Estate, Las Vegas, NV

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LINKEDIN REVIEWS: http://www.linkedin.com/groups/Has-anyone-worked-REO-PRO-1793554.S.5837645340198592512

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See Brian’s Home Page Review:

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Now that know the truth, SHARE the wealth. Forward this to a fellow realtor.

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18 comments for “REO PRO CORP REVIEWS: Buyers Beware!

  1. joe
    October 16, 2014 at 6:12 am

    So I received a phone call on a Friday asking me if I could help them with several reo properties, I said sure, email the address’s to me and I will go see them. That’s standard practice in reo’s. Few days went by and I didn’t see any emails, but I had called directly starting that Monday and daily, with all calls going to voice mail. Then after 1 week I received an email asking me if I wanted these listings, of course I replied Yes. Few more days went by with no contact. This is not the normal practice of any lender, management company, or anyone who needs to dispose of reo’s. Don’t ever send any money, in fact make sure you bill them for anything you do. That will help you from wasting gas and time.

  2. Rosebella Tapley
    August 21, 2014 at 10:50 am

    I also received a call from Chase Branden from 302-394-9159. I hung up the phone before he can start his speech. He called back within seconds, I declined the call, and he called again and again. I finally picked up the phone and was not very nice to him at all. He said he is an asset manager, and said that I was referred to from one of their lenders as an expert REO agent in my market area. He continued to say that he will send me 2 properties to do an exterior BPO for free and then when completed, they will assign these properties as REO listings. Sounds too good ,right? It’s a scam. Walk away from it.

  3. Reginette Osby
    August 14, 2014 at 1:46 pm

    I received a call from these folks today as well. I do believe the name of the woman who identified herself as an asset manager, was Tekina Mitchell. Something like that. Anyway, she said she got my name from a few lenders. She asked was I familiar with the “Equator system”, which I am. She said they had two listings for me in my area and would like to work with me. She also said I was guaranteed two listings a year and if I didn’t receive the two listings, I would get a refund of my $400. As soon as she mentioned upfront fees, I knew something wasn’t right. Basically I knew something was wrong earlier in our conversation because the so called asset manager spoke as if she was nervous due to my asking many questions. She also didn’t speak well nor did she speak with confidence. When I asked for their web site, she said, “well you can look at the web site if you want to……but”. That sent another red flag. A reputable company would not behave in this manner. Anyway, I just wanted you guys to know, if you receive this type of call asking for $400 upfront, you may want to hang up, Immediately!

  4. Trish
    August 6, 2014 at 10:16 am

    I was contacted the other day by IREO.com After a long interview process where they asked me lots of questions about my credentials (great marketing idea there), they gave me 3 properties to do a BPO. (We aren’t allowed to charge for a BPO in my state btw.) They opened an account and showed me how the website worked. They then asked for a $400 set up “technology fee” (not sure why since she set me up while we were talking). I told them I would get back to them later that day.

    After doing a little research on one of the BPO’s, it appeared that the property wasn’t distressed and that the property wasn’t foreclosed on (or danger of being foreclosed on). I contacted the lender and was told that they don’t even use IREO as an asset manager and they would never use an asset manager that charged money to the agents for a set up fee.

    So it appears that they use their interview process to make it feel like they are legit and throw out some properties for a BPO to seem like they have properties available.

    When I called back to confront, I got a voice mail where I left a very detailed message of what I found. Within a few minutes I got notice that the IREO account they set up had been closed.

  5. July 24, 2014 at 11:10 am

    Thanks for the heads up. Just saved me $400.

  6. Sabriya Scott
    June 27, 2014 at 11:14 am

    I JUST SPOKE TO MARK RILEY AT 302-570-0736 EXTENSION 203. HE SAID ALL OF THE THINGS ABOVE AND EVEN ASSIGNED ME 2 PROPERTIES IN THEIR PORTAL. IREOPRO.COM, ONCE ACCEPTED THE BPOS OPENED. HE THEN ASKED FOR $400 AND I TOLD HIM I WOULD CALL HIM BACK. HE GAVE ME A TEMPORARY PASSWORD AND LOGIN TO GET IN THE WEBSITE.

    • Larry
      August 27, 2014 at 6:28 pm

      I am one of the ones who paid the $400, I was told that they get about 70% of the properties they go after . I have done several BPO’s for them with zero results, they claim it takes time. I asked them today if I could talk to a agent who has actually received a listing, they said they could not give out that info. I would think they would want to have me talk to someone that has succeeded from this.

  7. June 11, 2014 at 12:07 pm

    They have a new domain name called ireopro.com (created on 04/04/2014). It is linked up to REOProCorp.com (created on 05/17/2013), which is 100% identical. Yes there is that $400 they want you to pay upfront. They are using a virtual office from Regus.

    Probate Specialist in California
    https://plus.google.com/117922069889011803629#117922069889011803629/posts

  8. June 11, 2014 at 12:04 pm

    They did the same here. Said that I was referred to them by a bank. Said they had a minimum guidelines for me to be in the REO business for at least 10 years. However, they never would give me who referred them- Said they would after I signed up, which of course was $400.

  9. June 3, 2014 at 12:45 pm

    I received a call from Chase Branden today from (302) 394-9159. He claimed he was an Senior Asset Manager and had two REO assignments in my zip code. After he asked me about my experience in handling REOs and my marketing experience he said he had two BPOs for me that I would have to perform for free, but then I would get the assignment. I looked up the addresses and saw that they were both NODs which in my experience would most likely not turn into REOs in this market. He wanted me to pay $400 for the platform to use. I asked him about the two REOs he had in this market and he told me that two addresses of the NODs were the REOs and tried to back-peddle. NODs are obviously, not REOs. What a waste of time? Obviously, this is a sales call in disguise and a waste of time. Hope this helps someone.

  10. Tara Nagelhout
    May 16, 2014 at 4:15 pm

    REO PRO CORP isn’t happy with you. I have been having a most enjoyable conversation with Kevin over there who keeps trying to tell me that they are legit. Oh my gosh! Their videos! I am a brand new agent, I have no REO experience, in fact I have NO experience at all…and REO PRO is the best and I love working with them. Then there was the stay at home mom/Realtor. Is that like “I’m an actress/model”? And then the full time teacher, part time Realtor. Could you imagine any legit AM company hiring those people? WOW! Anyway, in my last email I referenced your fabulous video. He wrote back, and though the entire email isn’t about you, I thought I would share…

    Your allegations are completely hilarious and fall in line with that of numerous agents, who again, don’t work with us and to our benefit, never will. This is not a platform that is intended to be “advertised” all of 1.2 million agents to use.

    We’re well aware of Poncie Rodriguez’s video. He’s pretty good at those and he’s done a few. I’m sure he’s finding some ways to capitalize on these “scam” videos of his (not his only one), because no client lender that we work with in the Modesto, California area where he’s located would bother with him. You might take a moment to watch the video again and notice that he was very careful in his speech and text in what is now a failing attempt to avoid a slander suit.

    There may have been some scenarios where we may have been taken poorly during a different phase of growth; a phase with videos that lacked some tact in production, in my opinion, that is now over and outdated as is your information on the properties you researched. At some point, a wise professional needs to consider a source of what they see and hear and what agenda is being served by it. In your particular instance, for us, it’s an invalid and unnecessary argument. From many markets, we receive numerous applications, but can only engage qualified new team members on a need-basis.

    I referenced dialogue to the effect of developing our “small lender-specific” educational site in conjunction with some material and representatives from Five Star; a dialogue that began with these very fraud allegations being reported to them. It appears you’ve gone far out of your way to “investigate” an invitation that to a cost of your time and ours, beyond the value of of any moderate fees we charge, but luckily not at the expense of losing the inventory, which we have managed to find a new team member agent to service.

    As it’s been said, if the shoe doesn’t fit, don’t wear it. Your response has been taken quite simply to indicate that you’re declining the assignments from our client lenders financing properties in your area, (including those whose original mortgages were bought by other lenders), but apparently not updated on record, which happens quite often from what we have found.

    I have, thusfar, enjoyed the opportunity to express to you the reaction to realities that any truly successful professional in any arena faces: You can’t make everyone happy. You can’t expect everyone to believe you’re telling the truth, when you know you are. You can, however, expect people to rail against you out of a spiteful or detractionist agenda when you’re making strides.

    Should you receive any further communication from any other Asset Managers or other staff with our organization, feel free to inform them that you’ve taken the matter under consideration with me and that you’re not interested in a partnership at this time. I’ll do my best to nullify your referrals from our clients.

    Best of regards and luck to you,

    Tara Nagelhout, Principal Broker, Emerald Valley Real Estate

    Member of The Force, Five Star REO Certified, CDPE, NABPOP, NAHREP, OAR, EAR, NAR, 100% Woman Owned Business.

    Serving Lane County, Oregon (Eugene/Springfield Metro Area)

    via email: On May 5, 2014, at 8:21 AM

  11. May 7, 2014 at 4:21 pm

    Hey thanks for the information. they called me the other day and again today :-(

  12. May 1, 2014 at 5:14 pm

    Boy do I love Poncie.com….you always make my REO life easier…….:)

    Irene C Bryan, MBA, RCC,NRBA,NAHREP

    Coldwell Banker REO Broker Associate

    State Certified Real Estate Appraiser RD6260

    Winter Haven, FL 33880

  13. Linda, Plano TX
    May 1, 2014 at 12:33 pm

    this is the same scam that BankerREO did in 2012 except their upfront money was $440 and yes, I got took by BankerREO. Assigns 2 BPOs right off the bat. I researched both REO Pro gave me and am heading to knock on the doors. By the way, the so-called guarantee…BankerREO had the same guarantee. Different company, same MO = scam. For the agents above that are for them, waste your money and see.

  14. May 1, 2014 at 10:27 am

    I cannot tell you how much $$$ I have spent on this type of tripe. Great info.

    Connor T. MacIVOR
    Santa Clarita Real Estate agent

  15. May 1, 2014 at 10:22 am

    Thanks for the info, wonder if they hit any RE Investors yet as well

    Richard Gaston
    3G’s Property Investments
    Lakewood, WA

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