Join Date: Jun 2013
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First lesson learned
I have been in contracting (IT mostly, some construction) for about 13 years but never Pre and Post REO work.
Looking to bail out of IT, I answered an ad from a National looking for contractors in this area. Although they were looking for both Mortgage field inspectors and PP, the emphasis seemed to be more on the Field Inspector Side. They has a short online course and a test afterward followed by a glowing letter that I had passed and that a welcome letter would be soon forthcoming, then...nothing. All indications were given previously that they had recently expanded into this area and were in desperate need. I know now, of course, that they were simply interested in padding their contractor database
I have since learned that this is par for the course, that even if they do come a-callin' I should expect to be chasing only the crap their regular contractors didn't do for some reason. At the rates they pay, clearly considerable volume would be needed to make any of it worthwhile.
Fine. I'm still in the exploration stage, already own most of what I need to get started, and am still soaking up all the info I can. Lets call it live and learn with these guys.
This is what is really chafing at me though.
One of the things I signed was a non-compete agreement, nothing unusual there, been dealing with them for years, but it effectively constrains me from seeking direct contract from any of their clients. Two big problems- first, how the hell would I know who their clients are since I haven't received any business from them, and second, why should I be constrained at all if they haven't provided any evidence that I've been retained by them or that they ever intend to use my services.
Both parties have to provide consideration for a contract to be in effect, and I haven't received any.
I'm thinking of sending them notice that I have changed my mind and would prefer not to enter into an agreement after all as opposed to a "resignation" (an odd term they use considering I'm not an employee) which would be an admission that I consider a contract to be in place to resign from.
Has anyone run into this? Is there some truth to my suspicion that pretending they're interested in using a contractor is a real good way to lock out competition or am I just overthinking this?