Nationals seem to think education is the answer to their problems... - REO Property Preservation Forum
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post #1 of 14 (permalink) Old 04-13-2012, 09:39 AM
MFSOracle
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Nationals seem to think education is the answer to their problems...

Check out these great opportunities to educate yourself in the wonderful world of Property Preservation!!


FAS
Announcement: http://www.fieldassets.com/fas-vendor-university
Site: http://www.fasvendoruniversity.com/

It only costs $150 per month and it's a 6 month program. How long before you receive this email: "We are excited to announce the new requirement that all vendors in our network are required to complete the Vendor University training by such and such a date in order to qualify to receive additional work. For your convenience, we will automatically debit the $150 monthly fee from your account starting next month. Failure to complete the program within the prescribed time allotment will result in loss of all work."

Safeguard
Announcement: https://safeguardproperties.fordela....iew/9331/18471
Site: http://www.safeguardproperties.com/R...e_Courses.aspx

MCS
Announcement: http://www.mcs360.com/press/mcs-laun...ng-portal.aspx

Did I miss any?

Question: How do these educational offerings mitigate the fundamental flaws in the property preservation business model? Those fundamental flaws, in my opinion, include lack of integrity and accountability from the nationals - I can safely make that assertion based on many years of experience in the industry. Examples:

1) "Oops, it was a glitch in the system that made it auto-invoice at a lower than allowable amount; now if you just jump through these hoops, we'll be able to fix that for you."

2) "We know you're a couple of weeks into the grass cut season however we must now lower the prices on all your invoices to comply with the changes we implemented today. And any business decisions you made in preparing for completing our grass cuts this season are blown because we're going to pay significantly less than you expected."

3) "We are back-charging you for the grass cut completed at xyz property 2 years ago because the photos are not in compliance with guidelines; specifically, address is not visible in the photos. Oh, the address was not posted at the property? You should have noted that in your completion or written it on the mailbox."

Do you think the education seminars will prepare vendors for these scenarios?
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post #2 of 14 (permalink) Old 04-13-2012, 12:49 PM
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Heck yes I'm signing up!! With those three Certificates on the wall of our shop I can quit building and remodeling and go full steam into the world of Regional Property Preservation! Why, they'll probably even write a higher pay scale for all certified alumni like me and the money will just fall out of the mailbox.
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post #3 of 14 (permalink) Old 04-13-2012, 01:29 PM
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We are a general contracting company in California and have worked for FAS for several years only on the repair side. Very low volume with them. Thankfully, 95% of our business is from realtors. We were recently notified by FAS that we have to re-apply to their REO model program. They have a new screening process and asked for three written letters of recomendation, insurance and license info. Plus a portfolio of completed work.

You have to send that in to get the application packet which included a price sheet. Some highlights were- install disposal $25. Supply and install water heater $450. Interior paint 2 color $1.35.

Needless to say we will not miss them. Maybe they can refer me to the licensed plumber who installs disposals for $25. I don't even think I can get a handyman for $25....They are getting way to greedy.
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post #4 of 14 (permalink) Old 04-13-2012, 03:06 PM
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Originally Posted by monumentinc
We were recently notified by FAS that we have to re-apply to their REO model program. They have a new screening process and asked for three written letters of recomendation, insurance and license info. Plus a portfolio of completed work.

The nationals just don't seem to get the correlation between low pay and shoddy work / shady contractors. No amount of background checks in the world are going protect a national from a vendor who feels like he's been put through the wringer. Contractors in this industry work hard in tough conditions to do right by their clients - in exchange, they need to feed their families and feel like they are building something special. Some nationals used to get that, years ago. Now the mantra is "churn and burn" - they just move on to the next vendor when one gets burnt out.
post #5 of 14 (permalink) Old 04-13-2012, 03:24 PM
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Quote:
Originally Posted by MFSOracle
The nationals just don't seem to get the correlation between low pay and shoddy work / shady contractors. No amount of background checks in the world are going protect a national from a vendor who feels like he's been put through the wringer. Contractors in this industry work hard in tough conditions to do right by their clients - in exchange, they need to feed their families and feel like they are building something special. Some nationals used to get that, years ago. Now the mantra is "churn and burn" - they just move on to the next vendor when one gets burnt out.
The only way to make that level of compensation work would be to
1. use unskilled or semi-skilled unlicensed workers and not worry about workmanship
2. install used materials
3. simply find reasons to short workers (which it sounds like is the business model of some regional companies.)
4. Pay out of pocket to do their work

None of these are acceptable to us so we will not be returning our packet. I doubt this will work for them in the long run either.
post #6 of 14 (permalink) Old 04-13-2012, 03:35 PM
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Originally Posted by monumentinc
None of these are acceptable to us so we will not be returning our packet. I doubt this will work for them in the long run either.
Absolutely agreed!
post #7 of 14 (permalink) Old 04-13-2012, 07:00 PM
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hi

if we have to take a vendor workshop and pay for it then im out,another scam to make more money off vendors just like their e+o insurance
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post #8 of 14 (permalink) Old 04-13-2012, 07:10 PM
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Quote:
Originally Posted by monumentinc
We are a general contracting company in California and have worked for FAS for several years only on the repair side. Very low volume with them. Thankfully, 95% of our business is from realtors. We were recently notified by FAS that we have to re-apply to their REO model program. They have a new screening process and asked for three written letters of recomendation, insurance and license info. Plus a portfolio of completed work.

You have to send that in to get the application packet which included a price sheet. Some highlights were- install disposal $25. Supply and install water heater $450. Interior paint 2 color $1.35.

Needless to say we will not miss them. Maybe they can refer me to the licensed plumber who installs disposals for $25. I don't even think I can get a handyman for $25....They are getting way to greedy.
We ran into t he same here. When I called a local plumber to see if teyy could come close I had to wait 15 minutes for them to stop laughing. I don't play those games. Webster defines a bid as :
Definition of BID


transitive verb


1

aobsolete: beseech, entreat b: to issue an order to : tell <did as I was bid> c: to request to come : invite


2

: to give expression to <bade a tearful farewell>


3

a: offer —usually used in the phrase to bid defiance


This is my price and if it does not fit your tip of the needle pay structure then fine. I did my part to give you your BID.
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post #9 of 14 (permalink) Old 04-13-2012, 07:20 PM
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their Insurance

They (nationals) have to have some education for their insurance qualifications. If you read your E&O policy they usally ask if you have a training program in place. Multiply that for a national firm and thus the online courses. When you hire a person who is unknown and continue to let them work for you after jacking up properties that is just poor business. I would NOT reffer my dog now a days to this industry !!! Let alone a business acquaintence . The hiring of unknowns and not having a probationary period costs them ( nationals) money in repairs that should have been done or reported but when hacks only drain a water heater enough to take the required pictures .....
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post #10 of 14 (permalink) Old 04-13-2012, 10:06 PM
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splinter i could see this for new ppl but not vendors who been in business longer then their processors
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