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March 14, 2006

Comments

Dave

You're prevaricating here.

Of course eBay is facilitating payment--that's what an auction service does.

But even if an owner sells his house to another person directly, someone, somewhere, has to facilitate payment. Are you suddenly going to accuse Citibank or whoever else of breaking the law?

KipEsquire

I agree with Phil. Broker is as broker does. Citibank is not performing a matchmaker function, bringing together buyers and sellers for a commission. (Neither are newspapers, which unlike eBay have no vested interest in whether the sale actually occurs.)

Tom Hanna

Some states (mine for one) have a specific exemption for licensed auctioneers and for a variety of others such as lawyers, banks and mortgage brokers. So, Citibank wouldn't need a license and if properly licensed to perform auctions, eBay doesn't either in at least a few states.

On the other hand, the very fact that they refer to their listings as "listings" and not "advertisements" does argue for considering what they do brokerage.

Heinz

I am afraid I would need to refer to an attorney to answer your questions. As a software provider we are not required to have a license in RE. Our software manages the transactions between the listing agents, lenders and vendors.

Have a great evening.

Alexis
support@reotrans.com



--------------------------------------------------------------------------------
From: Heinz [mailto:hgm@alltel.net]
Sent: Tuesday, January 09, 2007 7:34 PM
To: Alexis Clark
Subject: Re: Case 00003542: Re: Case 00003292: support Online Cancellation Instructions [ ref:00D56c1S.50052w2 [ ref:00D56c1S.50052wBQX:ref ]


Dear Alexis,

Sorry, I am not sure I understand. I was under the impression that anyone engaging in the business of real estate (except sole proprietors) and receive any compensation by sale , referral or otherwise thru a real estate transaction fall under the real estate commission law and must have a Firm license and if deemed necessary a brokers license etc.
How then is it possible you can engage in listing properties and advertise them and sell them thru hand-picked agents without the need or requirement of a license.?
Greetings,
Heinz
----- Original Message -----
From: Alexis Clark
To: hgm@alltel.net
Sent: Tuesday, January 09, 2007 11:45 AM
Subject: Case 00003542: Re: Case 00003292: support Online Cancellation Instructions [ ref:00D56c1S.50052w2 [ ref:00D56c1S.50052wBQX:ref ]




Dear Heinz,
We are a software provider, and do not have a Real Estate license. Our software helps lenders manage their foreclosure properties; we offer a full service reo workstation. We do not own the properties listed on our site. Lenders list the properties on our site and select a listing agent from our Agent database.

Alexis
Support@reotrans.com

--------------------------------------------------------------------------------
From: Heinz [mailto:hgm@alltel.net]
Sent: Monday, January 08, 2007 7:03 PM
To: Alexis
Subject: Re: Case 00003292: support Online Cancellation Instructions [ ref:00D56c1S.50052w2x7:ref ]


Alexis,

Your company must have a real estate license in everyone of those states that your listing a property for the Bank, correct? If not , could you please let me know how the process of listing these REO is handled.
Best regards,
Heinz

----- Original Message -----
From: Alexis
To: 'Heinz'
Sent: Monday, January 08, 2007 12:42 PM
Subject: RE: Case 00003292: support Online Cancellation Instructions [ ref:00D56c1S.50052w2x7:ref ]


Heinz

We do not have an affiliate program in place.

We do not have all foreclosure / REO's Nationwide. About 2500 properties are posted per month on our website, nationwide. We post listings owned by lenders who use our software.

Alexis
support@reotrans.com



--------------------------------------------------------------------------------
From: Heinz [mailto:hgm@alltel.net]
Sent: Wednesday, January 03, 2007 11:22 AM
To: Alexis Clark
Subject: Re: Case 00003292: support Online Cancellation Instructions [ ref:00D56c1S.50052w2x7:ref ]


Dear Alexis,
Thanks for the updated info. I

Also,
it would be nice to have all lis pendens files from the courts in the US online. What a great way to make a lis pendens become more effective and be for what it was intended to be, namily publicly known.



While REOTrans, LLC has reasonably endeavored to ensure the information on this site and the REOTrans Knowledge Base is as accurate as possible, it gives no warranty or guarantee that the information or publications made accessible are accurate or complete. Users should instead seek confirmation and professional advice with the originating body or with information technology specialists before making use of the information. REOTrans, LLC accepts no liability or responsibility for any loss or damage whatsoever suffered as a result of direct or indirect use or application of any material, publication or information made accessible via its web site and/or the REOTrans Knowledge Base, including for any advice pertaining to any third party software or services.





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