BankerREO called me about doing two BPO's in Defiance, Ohio - both were homes that they said I would then get the listings. I was told the listings would be released November 16th. The explained that I would have to pay a $349 annual fee (which didn't surprise me since other REO databases require membership). I also verified that at least one of the houses was listed in the Sheriff Sale log before I submitted my payment for the membership fee. They even sent me a master listing agreement which looked pretty standard compared to others I've signed. So all looked legit. However, since doing the BPO's I haven't heard a word from anyone at BankerREO - even after sending emails to two or three different people at the company trying to get an update. I finally tried to call the phone number listed on their web site, only to find that it was no longer in service. I never got paid for the BPO's (which they said I would get $75 each). I'm still waiting to see if I get one of the listings. I did see that one of the houses just finally transfered to Fannie Mae in the Auditor records 5 days ago... So we'll see if I get the listing from them or not. I sent another email today, but after looking for more information about this company on the internet I found hundreds of complaints from other Realtors so I'm pretty sure I just got scammed. I would love to file a class action lawsuit against BankerREO if possible!
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