Thanks for the feedback!

I just learned that a fellow member has received bad news about their business relationship with PAS / Wells. They have been a shinning star with them - has a great rapport with their AM, but yet turned up on a cut list.

In this case - the AM is attempting to help out - but if you're currently working with them it may pay you to make sure you are on good terms with them and your AM.

I would advise gently inquiring - not demanding info too

Thanks... I listed a number of properties for them last year but the activity has been little to none for a couple of months. There are 4 of us approved in my area and I think one may be getting everything that gets listed... at least lately. Bummer... but that's where I was at last year with them so I gotta assume they are just spreading the business among us.

Does anyone have anything to add? I read on here that pru was going to be getting all the business? Can anyone confirm this from a reliable source? When I inquired they said that was not the case and that I was fine having 98% plus as my most recent score.

How does one establish great rapport with a PAS AM. I've sold quite a few listings for them over the last two years and I don't think I've had the same AM twice. Plus if all goes well I never even talk to the AM.

Right... how often do you really talk to any AM? In general we do our tasks... get the property sold and move on to the next asset.

I wish I had more info on this, I'm not hooked up with PAS (of course I wouldn't mind it), but I have seen times where I have developed a 'kinship' of sorts with an AM, and they looked out for me when they moved up the ladder. I was only passing along some info - do with it as you wish

I email them every two weeks to add me to their database.

I'm not doubting you Pine. I just see alot of times people say they have good relations with AMs, talk to them alot and all that. In my limited experience doing bpos and REOs I never have really even talked for more then 5 minutes with an AM at PAS. Plus I don't care to small talk with people. That might be my problem. Maybe it's different with other Asset Companies and lenders. I don't have that much experience with other companies.

I feel I got lucky getting in with PAS. It happened in late 2007. After I applied and they said to take Default Training. Then two months after that I got assigned my first REO. Right after I sent an e-mail asking for more BPOs. Despite having no REO experience prior to that. Even though they say they require quite a bit of experience.

Maybe because at the time I was the broker/owner of my company and maybe they thought I must know what I'm doing. That can be debatable. They must of just made a mistake. A good one in my opinion.

Not sure about the AM's, but we have solid ground with the local Wells Fargo Rep, who is connected to PAS. He gets the prequals on the listings and he does a good job with the potential buyers. He has been a good resource for us with our PAS relationship.

My Mortgage rep quit working for wells fargo and I was promptly cut out from getting listings or bpos

I wonder why they would cut you out if your mortgage rep quit working for Wells. They should just assign you another one. I got one mortgage rep in trouble with Wells and got another one alot of praise. But never was let go from PAS for that.

I was a assigned a Wells Fargo HMC for my listings and this person would not answer calls, or return them. And lie to me about even receiving calls. Then we had some buyers that were going to put 50% down and this HMC basically just said they wouldn't qualify without even trying. So I gave them to another Wells HMC and got the deal done easily. Afterwards I sent an e-mail to PAS how bad this one HMC was and how good the new one was thinking nothing would come of it. Sure enough the guy I complimented wrote me an e-mail thanking me for saying nice things about him as he got a big atta boy from on high at Wells. I'm not sure about the bad HMC, but I haven't noticed that one around anymore....

I have not gotten any BPO's from them since August. But I have kept on getting listings. I still have 7 of their properties in my inventory.

In my area they have moved a significant share of their business to a large regional firm that originates a lot of WF mortgages. I understand they tried that a few years ago and it did not work out well, they had too many problems with that company's novice REO agents. So they moved back to using REO specialists again. My guess is that the same thing will happen again, but it is still a cause for concern.

Question for the group: Are they still sending you BPO's, or have they stopped doing that altogether? I'm hoping it's not just me.

I've had more BPO orders from them in the last month then I had in the entire previous year. Most of that I think came from my office address change. But I haven't had an assignment since October. But they only have 3 assets on the market in my area anyways. So yes Rocky. Still getting BPOs

SBbkr... I can give you some accurate input about the PRU joint venture that you are asking about. I use to be with PRU and I was a PAS agent when the joint venture went into place on 7/1/09.

Here's the scoop . . .
All PAS agents that were under the Prudential CA brokerage received an email from PRU Relo division advising us that we would not be receiving any new PAS assignments directly from PAS. They said there was a new Joint Venture established with PAS effective 7/1/09 and all new assignments would now go to the Relo/REO director. The Relo director is now responsible for assigning the listing to the agent of their choice. This pilot program only affected the majority of the Prudential CA offices (not Pru offices in other states). Prudential CA has an in-house lending division called HSL (Home Services Lending). Wells Fargo has a large financial interest in HSL (I believe 49 or 51%). I assume the relationship with HSL and WF was a key point in establishing the Joint Venture with PAS.

Effective 7/1/09, PAS "cut" all PRU CA agents (including myself). All new PAS assignments were now going to be directed to the PRU Relo/REO director. The listing stays in the name of the REO director, (not the actual agent that is assigned the listing). Alot of new assignments started rolling out to the Pru REO director (all over CA) but PAS was (and still is) giving assigments to other PAS agents in CA who are not with Prudential. I am certain they are not going to direct all of their business to one joint venture company, however, it's possible that other companies may be experiencing less volume due to the joint venture.

The joint venture is still in the baby stages and only time will tell if it's going to be successful. I can tell you that they still have alot of kinks to work out. All tasks and assignments given to PRU go through the same agent ID... yes, I mean all the PAS agents share the same login ID and PW!!! It's a huge challenge, just to sort thru all tasks and emails since everyone shares the same Porta ID! The REO director has to forward tasks and emails to the listing agent for each property to be sure the agent has received it! They are working with PAS to improve the system, but I understand it's been a software challenge.

I left PRU a few months ago to open my own Brokerage. Of course I contacted PAS immediately to re-activate my old account, only to be told that they will not re-activate any agents in my Service area unless the business warrants the need for more agents, even though I had 10 assignments with them in the first half of 2009 under my own name before the joint venture. This was very disappointing news since I had been working with PAS for 18 months before the Joint Venture was established. Fortunately, I still have one assignment from Mar '09 that's still in Eviction, and they are going to let me complete this assignment with my new company name, even though I am on the "cut" list at this time. I am hoping that this never-ending eviction may help me get re-activated before I close this assignment, but at this time, my ID is cut for new assignments

Like everyone else, I worked hard and spent good money to get approved with PAS and other companies. They recieved GREAT service from me and my team. I LOVED working for them! I REALLY hope that they may reconsider opening my account again by the time this last assignment closes (if it ever gets out of Eviction)! It's been the eviction from hell! The PAS attorney is beside himself!

Anyway, that's the scoop with PAS, coming from someone who has 1st hand knowledge. Hope that answers your question SBbkr.

Now that's what I was looking for... Thank You!!!

That explains it... I am in CA and a PRUCA agent is getting most if not all the assets the last 2-3 months or so. The 6 months before that I was getting most of them. I know my service was not an issue... score has been kept at 98% plus.

Again... Thank You!