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report scam| Country | United States |
| State | Colorado |
| City | Denver |
| Address | 2373 Central Park Blvd. Suite 100 |
| Phone | 720-515-7037 |
| Website | http://www.teamlear.com/ |
On or about January 18, 2016, I got a call in my office from an individual named Grant Dobson.
Grant introduced himself as Asset Manager for many big banks like wells fargo, Chase, Bank of America, etc.
Grant proceeded to tell me that they had chosen my company to do business with because they would be getting listing in the area and they would be acquiring/managing 104 Williams Street, Jersey City, NJ.
In exchange for providing listings, at least 6 minimum per year, his company teamlear.com would charge a set up fee of $449.00
I paid the fee back in January of 2016.
On My 2nd 2016, I checked the system and 104 William Street has not been foreclosed or been acquired by teamlear.com. As a result, I started doing some research on these people and discovered that they are ripping off brokers all over the country with the same story.
!04 William street is still in active foreclosure and teamlear. [continued below]....
I was told by team Lear that I would receive the foreclosed listings shortly after doing the bpos and paid the $449 by check or debit card. Did everything and tried to contact Shelly Peterson about a month later and only customer service to leave message. Total scam and my bank cannot get the cash back for me because I authorized it by check. Beware these asset mgmt companies are all over the U S I dealt with another one in Chicago as well no more for me!!!
They charged me $449 for the right to list a foreclosure property in Hutchinson, Ks. They did not have the right to list this property. It was listed by another asset management company and Realtor. They refuse to refund my money. This company appears to be a fraud and Ripoff.
I received a call from a person named MJ Benson from number 720-515-7037 x 229 early this morning. I spoke with him at length and the property he wanted a BPO performed on was a legitmate property that finished a trustee deed sale recently so I thought that possibly this could be a real company. I have attached the email he sent me while we were speaking on the phone below. I am an experienced REO Broker in the state of CA. I explained I have never had to pay a deposit to a company in order to get business. I work with many banks and asset managers and do use platforms such as Res.net. LEGITIMATE REO companies do not make you pay an up front deposit to get a listing. Yes, many REO companies require the agent to handle utilities and trash out, CFK's, repairs, etc but this is only after there is a real property with a real lising agreement. I checked out scam reports and obviously chose not to do business with this person/company. There is a lot out there on this company in particular. He called me back several times while I was in a meeting and then I was finally able to answer the phone When I mentioned the scam reports he explained those people were not really working with the company and it's all lies.
People like this need to be stopped! There are agents out there that don't know any better and fall victim to this all the time.
If you want to see if someone calling is from a legitimate company, ask for their license number. I asked this of this man that called me. There was dead silence on the phone and then his response was "what difference does that make". I said that I am a broker, not an agent, of a company and that I would like to verify any person I do business with. He didn't even know the difference between a broker and an agent. A real asset manager for sure knows the difference! If someone called and asked me for my license number, I would give it to them in a heartbeat. He told me the company has a great BBB review in the state of Colorado. I said that is wonderful but you are speaking to a person who does business in the state of California so I don't really care of your status in another state, I care about this state. After I explained that I know my worth and if he really wanted to work with me then he could waive any upfront fees. He then got angry with me and said "Since you never called me back earlier today, I wouldn't want to work with you anyway, you are rude for not returning calls and I will move on to the next agent." (There was more said with him trying to berate me, but I think I am getting my point across here) I then simply said "Great, sounds good, thank you" and then hung up.
It is very sad to have companies preying on people like this.!
Same thing happened to me . Beware of another company called: fiopOPTIMALREO SOLUTIONS
I second all the write ups. Received call stating I have been selected by Team Lear to do foreclosures in my area. Proceded to ask me to complete BPO, pay the $449.00 refundable if not assigned the forclosure within one year. It never happened. They do not reply to email and or phone calls to the supposed Asset Mgr. Calls to the main number also are a waste of time. Spoke to the Denver, BBB they suggested that I contact the state Attornys office and provided the phone number. They are a sram and must be put out of business before other Reators fall for this crooked operation. Realtor Ca.
They got me for $449 last year. Thats a lot of money to me. So sad there are crooked people in the world.
A Team Lear's Representative contacted me on January 6, introducing the company as an Asset Management company, hiring real estate professionals with asset servicing experience.
Since I am accredited in this field, I was interested and all of my questions were answered to my satisfaction.
When I was told that they require a deposit of $440, fully refundable at the end of the year, for the use of their proprietary software similar to Equator, the one most banks use to manage the asset inventory and communicate with Vendors, I did not think much of it, as Equator was even much higher, and generated no business.
I received my first assignment, spent my valuable time to compile and upload a BPO, then waited to receive the listing of the property. A month and a half later, I found out that it was listed as a short sale (not even an asset, managed by this company!), by another agent.
Naturally, called the company to require an explanation. Did not receive any. The communication was handled in disastrous manner by the representative, which made me look into the company. What I found out was a long list of complaints, and scam alerts. Wish I had checked Team Lear out before I decided to do business with them.
They must be stopped!
Here was their initial email.
Hi Henry
This is Walter Prescott it was great speaking with you about the distressed properties I have available in your area. Per our previous conversation, here is a little information we discussed about receiving property listings and working with me as your asset manager.
I work directly with major and minor banks, credit unions, lending institutions and private investors over all 50 states. The lender on this property is looking for 3 things: a BPO to best determine the market value on the property, the current occupancy status which will help determine how soon the property can be listed, and an agent to list and market the property.
If you complete these BPO's within the time requested by the lender and it is priced accurately, you can be assured to receive these as listings when the lender takes back ownership of them. We have a team that reviews the BPO once you submit it online to make sure they are completed accurately, so be assured that we work with you and we aggressively market you as the exclusive agent.
As of now, LDG has a property that is in distress that requires preliminary work to be done. A BPO is required to satisfy the lender with the necessary information needed from you to determine the Market Value of the subject property. A solid BPO should be provided within 48-72 hours for assurance of the listing once ownership has shifted hands from the homeowner to the lender. Properties that are provided to you are expected to be your exclusive properties to list, market, and sell for the lenders in your area. Our lenders pay out a 7% commission in total on these properties, 6% of which would go to you, and 1% that would be paid to us.
Available properties:
4106 San Amaro Dr, Miami, FL 33146
LDG's proprietary default property management software has been built to improve performance and efficiency while streamlining the foreclosure process. The lenders access the software to view Agents/Brokers submitted BPO assignments and see who services different areas to provide you with property listings, cash for key, and re-key assignments. Our platform will also be used to send you subsequent assignments. The preferred online portal to use for all our lending institutions is a proprietary system at http://www.LDGconnect.com/. The software is only accessible via Google Chrome, Firefox, or Safari. If you have any questions or concerns, please be sure to contact me via email or phone.
There is a one time preservation deposit that you would be responsible for of $449.00. This goes to Safeguard , It will be reimbursed to you upon listing of the property. We put up the costs on that first listing and all others that you would receive from us. It is not a reoccurring charge. We guarantee that you will receive at least 1-3 listings with us in the first 6 months, and if for any reason that doesn't happen, you are eligible for a full refund of the $449.
Consequently, I'd also like to take the opportunity to illustrate what you can expect from me as your Asset Manager:
A direct point of contact Monday - Friday 8:00 am - 4:30 pm MDT 720-515-7037 ext.213
Handle all tasks associated with managing the properties including: cash-for- keys, evictions, trash-outs, re-keys, inspections, repairs, general maintenance work, utility coverage, and emergency maintenance.
Full access to our online portal at http://www.LDGconnect.com/
Access to our Customer Support Team, if I am not currently available
Tools used to market you (as the agent/broker) back to our lender(s)
I look forward to partnering with you!
They claim that the property has already been foreclosed on but when I called the plaintiffs attorney to verify they advised me that there has not been an auction date set. So they are basically lying to me. Asked to speak to a supervisor and was transferred to Ethan Grant but no answer. Seems sketchy but I may give it a shot since I know my credit card company will issue me an immediate refund for fraudulent charges.
Whatever you call them Team Lear, REO PRO, etc. these guys are 100% rip off with their efforts to selling to Realtors making grand claims of being asset managers representing banks which is all 100% bogus. They come off sounding initially like an asset manager trying to find a local agent to list REO properties but then quicky shift to a focus on getting your credit card information for their one time upfront advance fee payable to get you approved to work in their network with the very tough hard to get into REO listing broker line of business.
No legit asset manager with a legit asset management firm will ever ask a Realtor to pay an upfront fee to provide service with them. These guys are total scam. Unfortunately a few years back I had a moment of weakness taking the chance with these people only to find out the hard way it was all a scam. I've since researched this bunch to find out countless stories of other Realtors that had similar stories. Not one single positive report whatsoever and no business gained from these guys in any state.
Lesson leared from me will save you money if you don't fall for their nonsense. These folks change their name and address at least once a year as well as tweak the formatting on their web site code to give a "not the same company" impression but the idea is all the same to steal your money. If I can only make a difference to help some other real estate professional trying to grow their business in any other state to not make the same mistake then eventually we can close the door on these crooks for good. To add insult to injury they regularly call me every 3 months using a different person to solicit me all with the exact same script again.
I received a call from a person named MJ Benson from number 720-515-7037 x 229 early this morning. I spoke with him at length and the property he wanted a BPO performed on was a legitmate property that finished a trustee deed sale recently so I thought that possibly this could be a real company. I have attached the email he sent me while we were speaking on the phone below. I am an experienced REO Broker in the state of CA. I explained I have never had to pay a deposit to a company in order to get business. I work with many banks and asset managers and do use platforms such as Res.net. LEGITIMATE REO companies do not make you pay an up front deposit to get a listing. Yes, many REO companies require the agent to handle utilities and trash out, CFK's, repairs, etc but this is only after there is a real property with a real lising agreement. I checked out scam reports and obviously chose not to do business with this person/company. There is a lot out there on this company in particular. He called me back several times while I was in a meeting and then I was finally able to answer the phone When I mentioned the scam reports he explained those people were not really working with the company and it's all lies.
People like this need to be stopped! There are agents out there that don't know any better and fall victim to this all the time.
If you want to see if someone calling is from a legitimate company, ask for their license number. I asked this of this man that called me. There was dead silence on the phone and then his response was "what difference does that make". I said that I am a broker, not an agent, of a company and that I would like to verify any person I do business with. He didn't even know the difference between a broker and an agent. A real asset manager for sure knows the difference! If someone called and asked me for my license number, I would give it to them in a heartbeat. He told me the company has a great BBB review in the state of Colorado. I said that is wonderful but you are speaking to a person who does business in the state of California so I don't really care of your status in another state, I care about this state. After I explained that I know my worth and if he really wanted to work with me then he could waive any upfront fees. He then got angry with me and said "Since you never called me back earlier today, I wouldn't want to work with you anyway, you are rude for not returning calls and I will move on to the next agent." (There was more said with him trying to berate me, but I think I am getting my point across here) I then simply said "Great, sounds good, thank you" and then hung up.
It is very sad to have companies preying on people like this.!