Aspen Grove - Wells Fargo

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Real Estate Agent with Transaction Realty 500 Reno, Nv.

I recieved an email today from Aspen Grove.  They have new software to mange REOs.  If you want business from Wells Fargo - PAS you much pay them $99 for the first year and $349 for the second year.  They are charging $115 for each property.  You much take a training course on the software.  You will not get a listing after Aug 31 without the software.

Wells Fargo recently lowered their commission to 2.5% 

I am in a low price market.  My average sale is under $100,000.  My last commission check after the company took its cut and I split with my partner was $251. 

Many of the companies are finding new ways to make the agents pay.  They are going to drive the small REO shop out of business.

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Rainmaker
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Julie A. Black
KAUAI DREAMS REALTY Kauai Real Property Specialist - Kapaa, HI
CLHMS, CRS, GRI, Realtor, Broker

Yikes, I haven't gotten that email yet. Fortunately prices and threfore commissions are generally much higher here in Hawaii.

Aug 13, 2010 02:03 PM #1
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Anonymous
Craig Ball

I just got the letter today.  Getting real sick of having other people's hands in my pocket.  Really enjoy doing business with PAS/Wells Fargo but this just really sucks.  Most of our listings are below $50k so we are working with the minimum commission on most deals already.  Making us pay for the assignment is a little much as well.  I guess if they want to collect this on closed deals I can't gripe too much but to pay $115 just for the listing and if it doesn't sell the agent is SOL.

Aug 16, 2010 05:31 PM #2
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Anonymous
Jan

It's amazing to me--did you note in the "how to contact" page for Aspen where their offices are?  Maryland and Ireland.  One more corporate entity that wants the brokers to pay for outsourcing the business.  Unbelievable.  We are still in the top 4 foreclosure areas of the country--so many of our listing commissions are small anyway.  So now they want $115 per asset, $14.95 for managing our inventory and an annual participation fee.  Does our broker get paid for the money outstanding for maintaining their properties?  Do we get paid for performing lots of services for their assets that aren't part of the listing iteself (as in evictions, cash for keys)?  We have worked for PAS for over 20 years and upgraded our staff and equpiment as needed to perform appropriately.  We accepted that as a cost of doing business and being up to date for REO performance.   Our report card reflects our performance and we're proud of it.  At this point, we are not willing to prostitute ourselves to pay to retain the business.  Let the other inexperienced REO whores do it; they probably have deep pockets and surely their lack of experience won't affect the PAS/Wells Fargo bottom line, right?

Sep 02, 2010 01:09 PM #3
Rainer
6,446
Bret Casper
Oakview Realtors - Salt Lake City, UT

Ouch, I just got hit with a bill for Aspen Grove annual fee $349.00 plus PAS monthly fee of $115.00. Total bill this month $464.00. This month I've also paid my $700.00 state license renewal and $133.00 MLS membership. After adding it all up i think I'm working below minimum wage. :(

Sep 16, 2011 06:12 PM #4
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aj

I heard from one blogger that Aspen grove -Wells Fargo might be going down and that Service Link might be taking over? Has anyone here heard this. Let me know.

Jan 06, 2012 12:33 PM #5
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JP

It's been going four years of getting used to dealing with inexperienced Asset Managers at the Bank management level, new employees that came from other jobs with no experience in Real Estate or Contract law and even so called quality control efforts of BPO by barely english speaking folks with even less knowledge of property 15000 miles away. Real Estate has alwasy been dynamic since its inception of these concepts and principles, when the government gave property away with grants. In 26 years of experience of full time in Real Estate, I have never seen where no one understands the Banking system desicion making process. Some do and I like working with the ones who listen to the only eyes and ears they have "US AGENTS".  It is a broken system and there is no repairs in sight. You can't tech the experience or knowledge of a real human being making correct decisions, PERIOD, I  have come the realization that Agents have no control, Attorneys don't have control, The Bank wants control, Investors want control, but no one seems to get that the business is about the PEOPLE finding places to live or investments to  make money on. Most Agents figure out quick that some Brokers hire by Banks are less than SQUARE. Now you can see that most of these Brokers steal their own integrity. I don;t point fingers I just work the system as best as it can. Its like driving a car with two flat tires on the same side of the car and asking the car to stay in the center of one lane. We all need to understand that the very person I spoke to at PAS AGENTS has no clue that he the one that cuts the wrong people. If he gets to talking with administration folks well he has just removed himself from the correct decision on who shoudl get the work and who shouldn't. Most of the time Back biting can result in the worst people to keep on staff. I can't stand folks who are spineless because they have authority unearned and no real knowledge of a subcontractors human condtion. Self employment is a 24/7 struggle not an 8-5 work day with benefits. Banking is getting a lot of cheap labor using agents for just about every job including titlework building and stealing data bases that some poor bugger built from experience ALL IN THE NAME OF BUSINESS. We need take another look and the size of BIG BUSINESS AND BIG GOVERNMENT. These are the real problems of our economy not the commisioned subcontractors, or vendors struggling to get work...        

Jan 13, 2012 03:35 PM #6
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Matt
any one removed , had assets assigned without explanation, babysat properties for yrs? considering class action lawsuit let me know
Dec 31, 2013 03:53 PM #7
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Amer Hasanin

how do u even sign up with aspen grove? im trying so hard to get work from wells fargo PAS :(

Sep 11, 2014 09:12 PM #8
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Matt Kofsky

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