Program 3648
Replies to This Discussion
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Permalink Reply by Rhonda Fenwick on
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Smitty,
Wow. Your posts here are quite interesting. Let me just clear a couple of things up for you. First and foremost, I did not START this thread as
you mentioned but rather assisted a fellow agent with a question she had by
giving her my experience with Program 3648. However, you are absolutely
correct in saying I haven’t been on the blog since. I, as well as many
other agents are busy marketing, listing and selling homes as well as educating
distressed homeowners with options they may have with their lenders…all of
course are free with NO COST to the homeowner.I want to also assure you that I have used Program 3648 since becoming an agent in early 2007. Back then Program 3648 was a special
program offered by the short sale servicing company my Coldwell Banker office
was using for all our short sales. It was very successful for me and many other
agents (obviously) and it grew from a program funded by a short sale company
into a stand-alone entity with its own short sale servicing arm. So, that
statement about Program 3648 not being “legally” a company until November 2009
maybe somewhat true but misleading. (I haven't gone to the trouble of
researching the secretary of state :) ) Smitty, I would suggest you take
the time to get your facts straight prior to making accusations on any blog.
This will avoid the rest of the world seeing you with egg on your face.
An even better use of your time would be to get out and help some
homeowners with short sales or other real estate needs they may have.Finally, you do not know me. Personal attacks are uncalled for…these blogs, as you say are places for “legitimate agents and Realtors come here to find
information to help them do their jobs." That is my purpose for using
them, and I hope to continue to do so without having to waste any more of my
valuable time responding to juvenile attempts to question my legitimacy. I'll
rely on my clients to judge my effectiveness and legitimacy as an
agent. Thanks for your time. Have a Merry Christmas.Rhonda
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Don't you work fulltime for program 3648?- it was mentioned earlier by another poster, and i don't see any agent activity online. Saying you haven't been on because you are busy listing and selling, doesn't seem to add up. does your Coldwell Banker office still use and sponsor the program?
Rhonda Fenwick said:
Smitty,
Wow. Your posts here are quite interesting. Let me just clear a couple of things up for you. First and foremost, I did not START this thread as
you mentioned but rather assisted a fellow agent with a question she had by giving
her my experience with Program 3648. However, you are absolutely correct
in saying I haven’t been on the blog since. I, as well as many other
agents are busy marketing, listing and selling homes as well as educating
distressed homeowners with options they may have with their lenders…all of
course are free with NO COST to the homeowner.I want to also assure you that I have used Program 3648 since becoming an agent in early 2007. Back then Program 3648 was a special
program offered by the short sale servicing company my Coldwell Banker office
was using for all our short sales. It was very successful for me and many other
agents (obviously) and it grew from a program funded by a short sale company
into a stand-alone entity with its own short sale servicing arm. So, that
statement about Program 3648 not being “legally” a company until November 2009
maybe somewhat true but misleading. (I haven't gone to the trouble of
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Steve,
I am not employed with Program 3648 however I have assisted with and provided training to staff employed with the company and will continue to do so as needed. I left the Coldwell Banker Company previously this year.
Steve Michaels said:Don't you work fulltime for program 3648?- it was mentioned earlier by another poster, and i don't see any agent activity online. Saying you haven't been on because you are busy listing and selling, doesn't seem to add up. does your Coldwell Banker office still use and sponsor the program?
Rhonda Fenwick said:
Smitty,
Wow. Your posts here are quite interesting. Let me just clear a couple of things up for you. First and foremost, I did not START this thread as
you mentioned but rather assisted a fellow agent with a question she had by giving
her my experience with Program 3648. However, you are absolutely correct
in saying I haven’t been on the blog since. I, as well as many other
agents are busy marketing, listing and selling homes as well as educating
distressed homeowners with options they may have with their lenders…all of
course are free with NO COST to the homeowner.I want to also assure you that I have used Program 3648 since becoming an agent in early 2007. Back then Program 3648 was a special
program offered by the short sale servicing company my Coldwell Banker office
was using for all our short sales. It was very successful for me and many other
agents (obviously) and it grew from a program funded by a short sale company
into a stand-alone entity with its own short sale servicing arm. So, that
statement about Program 3648 not being “legally” a company until November 2009
maybe somewhat true but misleading. (I haven't gone to the trouble of
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Permalink Reply by Smitty on
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Rhonda,
I guess I touched a nerve.
I did my fact checking. If I plan on paying a company or utlizing their services, I'm going to see if things add up and in this case it doesn't.
"it grew from a program funded by a short sale company into a stand-alone entity with its own short sale servicing arm."
So then explain what the heck this means then. What short sale company funded it? Who is it?
I don't see what the benefit is, and maybe because you've worked with them you can explain it. I don't see why agents would pay any company $200 a month for leads when there are MANY legit lead companies out there. I also still don't see how a company can call itself 3648 and correlate it to the Mortgage Debt Forgiveness Act. Where is the correlation? Because it was called that we're to assume if we work with Program3648 we will have no tax ramifications from our short sales? It's SOOOOO unclear. Poor marketing.
I think people should know what this is all about, and so far all we've seen is people spamming the forum trying to sell program 3648.
JMO which means nothing.
Rhonda Fenwick said:
I'm not personally attacking you. I'm making a statement that you've never been back to this forum since you posted and NEITHER has Sarah Burke, so to me, it smells AWFULLY SPAMALICIOUS....Hmmmm like a company trying to get their name out there maybe???!!! Me thinks so. I find it HIGHLY suspicious that Jeremy Bowman OWNS the company or is a member and interestingly never mentioned that when he came to this thread. Oh ya, he too has never participated here other than this thread. A personal attack would be, "Hey Rhonda youre an egotistical mountain goat, with the IQ of a Do Do bird" - Now THAT would be completely uncalled for, but highlighting you haven't been here except for this thread is NOT attacking you.Smitty,
Wow. Your posts here are quite interesting. Let me just clear a couple of things up for you. First and foremost, I did not START this thread as
you mentioned but rather assisted a fellow agent with a question she had by
giving her my experience with Program 3648. However, you are absolutely
correct in saying I haven’t been on the blog since. I, as well as many
other agents are busy marketing, listing and selling homes as well as educating
distressed homeowners with options they may have with their lenders…all of
course are free with NO COST to the homeowner.I want to also assure you that I have used Program 3648 since becoming an agent in early 2007. Back then Program 3648 was a special
program offered by the short sale servicing company my Coldwell Banker office
was using for all our short sales. It was very successful for me and many other
agents (obviously) and it grew from a program funded by a short sale company
into a stand-alone entity with its own short sale servicing arm. So, that
statement about Program 3648 not being “legally” a company until November 2009
maybe somewhat true but misleading. (I haven't gone to the trouble of
researching the secretary of state :) ) Smitty, I would suggest you take
the time to get your facts straight prior to making accusations on any blog.
This will avoid the rest of the world seeing you with egg on your face.
An even better use of your time would be to get out and help some
homeowners with short sales or other real estate needs they may have.Finally, you do not know me. Personal attacks are uncalled for…these blogs, as you say are places for “legitimate agents and Realtors come here to find
information to help them do their jobs." That is my purpose for using
them, and I hope to continue to do so without having to waste any more of my
valuable time responding to juvenile attempts to question my legitimacy. I'll
rely on my clients to judge my effectiveness and legitimacy as an
agent. Thanks for your time. Have a Merry Christmas.Rhonda
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Permalink Reply by Bryant Tutas on
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Hey guys. I have been monitoring this thread. Thus far I am OK with the discussion. Just be sure to keep it on topic and no personal attacks. Reign it in.
Anybody considering any marketing services needs to do their own homework.
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Permalink Reply by Nate Gerard on
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Personally, I'm a bit surprised. I know some feel it's their duty to defend agents from bad uses of their lead generation dollars but I find a lot more value in comments about a company when the agent has already used the service with poor results.
If someone takes the time to read the entire thread, they'll see that there are some who've tried it with mixed or poor results & some who've tried it with good results. There is also some mention of other lead generation sources that are cheaper.
My two cents is that I had great results. Of 150 letters I sent out each month I got two or three phone calls and I converted at least one of those to listings. Could I accomplish that cheaper with another of the lead generation sources listed in this thread? Maybe, but I was confident in the cost versus results of this company's leads.
Full disclosure, I'm on a break from this program right now so I can focus on Expireds. I found that having all short sales gave me spotty closings. We all know that sometimes we get a willing seller & a willing buyer and something beyond our control tanks the sale. However, when I was receiving leads I found the company to be easy to work with and the leads were quality because they got results. The focus should not be the cost but the results. All of us here would loan someone $200 if it meant that we would get paid back $2,000 right?
I have also posted elsewhere in this community and I've followed through on my pledge to send my letter and coach those who want to target short sale leads so please don't brand me a single-faceted member off this community.
I should also add that I use my own local outsource negotiator and not this company. I have heard though that the big 3 are going to refuse to pay for negotiation companies so the buyer or listing agent will have to pay. I've already begun to negotiate some of my own deals with good results. One bank even asked me if I would be interested in selling REO's for them. How 'bout that?!
Merry Christmas and Happy Hanukkah to all here and I hope everyone has a prosperous and professionally rewarding 2011!
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Permalink Reply by Jeff Payne on
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Nate, We appreciate your candor and your willingness to share. That is what this site is all about. With that being said, no one program works for everyone and we must research these companies to be able to make an informed decision.
Nate Gerard said:Personally, I'm a bit surprised. I know some feel it's their duty to defend agents from bad uses of their lead generation dollars but I find a lot more value in comments about a company when the agent has already used the service with poor results.
If someone takes the time to read the entire thread, they'll see that there are some who've tried it with mixed or poor results & some who've tried it with good results. There is also some mention of other lead generation sources that are cheaper.
My two cents is that I had great results. Of 150 letters I sent out each month I got two or three phone calls and I converted at least one of those to listings. Could I accomplish that cheaper with another of the lead generation sources listed in this thread? Maybe, but I was confident in the cost versus results of this company's leads.
Full disclosure, I'm on a break from this program right now so I can focus on Expireds. I found that having all short sales gave me spotty closings. We all know that sometimes we get a willing seller & a willing buyer and something beyond our control tanks the sale. However, when I was receiving leads I found the company to be easy to work with and the leads were quality because they got results. The focus should not be the cost but the results. All of us here would loan someone $200 if it meant that we would get paid back $2,000 right?
I have also posted elsewhere in this community and I've followed through on my pledge to send my letter and coach those who want to target short sale leads so please don't brand me a single-faceted member off this community.
I should also add that I use my own local outsource negotiator and not this company. I have heard though that the big 3 are going to refuse to pay for negotiation companies so the buyer or listing agent will have to pay. I've already begun to negotiate some of my own deals with good results. One bank even asked me if I would be interested in selling REO's for them. How 'bout that?!
Merry Christmas and Happy Hanukkah to all here and I hope everyone has a prosperous and professionally rewarding 2011!
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Jeremy, I think the issue isn't so much with the program as the perception you are trying to create. You named the program after a law, put a government-looking seal as the logo, copied and pasted the government's makinghomesaffordable.gov website, put a washington dc address on your emails (when the company is entirely in Kentucky), etc. I know your website now says "privately sponsored" but that wasn't always the case, probably only after complaints. You send out emails about how spots are almost gone and you have to "enroll now" or miss out but I seem to get emails a couple times a month, so that's obviously not the case (not to mention how you tell us on the phone that you've decided to open up new spots, but before they were full, and it used to cost 2k a month, but now it's free). Many agents see through these things and find it very cheap and gimmicky.
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I wanted to update folks on changing marketing efforts. In looking at some other options for lists, I found a company that will give me addresses (and in some cases even phone numbers although numbers are almost useless in the short sale world) based on a variety of criteria that I specify and at a lower cost.
I must buy 1000 but at a cost of $.30 each so that's $300 for 1,000 leads. I also got to specify that they're over 60 days late. One thing I had a tough time with was that Program 3648 gave me 30-day lates and many of those aren't really behind. They get caught up and by the time my letter gets there or I door knock, they're irate about being bothered.
I also was able to specify a minimum mortgage amount and specific zips and cities, which helps me target even better. I'm going to pull the trigger on this and will let everyone know how it works.
In the meantime, I would suggest that those who work with Program 3648 should specify no 30 day lates. I still think they're good to work with but in the face of changing competition they may have to modify their offerings to stay relevant in the mind of the customer (us).
Good Luck out there!
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Permalink Reply by Jessica Sulliman on
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Hi Nate! I would love a copy of that letter and info on the lead company you are now using. My email is [email protected] Thanks so much!
Nate Gerard said:I get charged $200 per month for 150 leads. They are identified as 120 days +, 90 days, 60 days, and 30 days past due. Most of the 30 days aren't looking to talk yet but I've found some good leads with the 90 and 120 days past leads.
With regard to mixed reviews, I agree, two other guys in my office discontinued the program after three months but that may have been because they were too busy to really follow up. I send out a customized letter (which I'm happy to share with you if you like) and then I door knock the 90 & 120 day lates.
I simply knock on the door and I say I'm a local Realtor who is here to help them. Most try to brush me off but if you ask questions they're usually interested in telling their story, which are almost all heartbreaking. I reassure them and remind them that they didn't cause the market but that they can make a plan to recover from their situation fast.
8 of my 10 current listings are short and I have one listing appointment every month that I attribute to 3648 leads. I hope this helps and feel free to call me if you like: 612-849-9079.
Peter Bond said:Hi Nate,
I'm curious about this company because I"ve heard mixed reviews. What do they charge you to join and what exactly to they give you? Thanks for any input. Feel free to email me at [email protected] if you prefer.
Nate Gerard said:Month number two and just when I was about to get discouraged that I sent out 150 letters and got no calls, I got one yesterday. Nice folks and they told me before I set the appointment that they need to sell. They have a hardship so it looks like a slam dunk for another listing. This one will probably only be around $150,000 but that's two listings in two months.
I also agree with he people at the home office. They've been great!
BTW, there's an accepted PA on last month's listing.
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if all you guys are interested in is leads- then just go to the source- program3648 buys their leads from pioneerinfo.net, and then sells them to you at 2x the price. Program 3648 accidentally attached a pioneer invoice when they sent me their leads one month, so I know where they get them and what they pay. You can get 500 leads for less than what you pay program3648 for 200. I now get all my leads from pioneerinfo and cut out the middleman. The letter that was just shared above is excellent, btw.
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Permalink Reply by Wendy Rulnick on
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Site members are not allowed to "sneak in links" to promote businesses per site rules. I have deleted the comments with links.
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