Sounds like another org that has figured out a way to get agents to pay them for leads.

I have not heard of it.  I would be suspicious.  Do your research beyond here in the Rain. 

I've been in the mortgage business for many years and have used a number of down payment assistance programs with my clients but I have never heard of these folks.   On the Internet, you just never know.

Having read Becca Rasmussen's excellent research report, I think I would suggest a pass on this offer. 

Hmm, doesn't sound very legit to me. Great way for THEM to make money off US

Haven't heard of it. Looks to be sponsored by the National Association of Expert Advisors (NAEA), of which I've also never heard before today. My lack of knowledge does not infer anything bad for these organizations, I'm a newbie!

Downpayment.org looks to have an A+ rating with the BBB.org, though a short time span on file. 1 complaint a few weeks ago, the resolution to which seems to be that the customer was refunded their money promptly and cheerfully. It seems to promote using agents who hold the Certified Home Buying Advisor designation, which seems to be offered through the NAEA though I can't really find anything on that site or through Google which gives more details on that certification. Perhaps you have to join NAEA first to get more details on that certificate.

I see nothing on the downpayment.org site on how real estate brokers would become affiliated with the site. 

For me, that's a whole lot of nothing adding up to a "'no thanks" from me. 

Sounds hokey.

Haven't heard of it but I'm sure you'll get a few token leads that someone else has already gotten

IMO these lead gen sites are scams - they buy leads from source for $200 a month, then resell them for $250 a month - I've seen this happen first hand!

It sounds like a joke. Don't waste your time or money with these type of companies withiout investigating them. There are actually some companies that will help some buyers with down payments.

Nope, there will be another scammer along next week. Just remember their name.

Run like HELL from that one.

They have contacted me before and it did not look good from what I could find out!

I haven't heard of this particular company but the modus operandi appears similar to others I have heard.  Good luck.  Be careful.  

I have heard of them but have not subscribed.

Your loan officers will provide the same services without being paid by you.

I have never been successful paying for leads so I don't do it.

No I have not and I would not from them or any other lead gen company

Bill Somers Doesn't sound very legit to me.

Ignore, run the other way.  Most of the comments concur as does your follow up comment.

I have not heard of them.

Before I can say more it becomes important to know if the borrower needs a pulse or a 780 FICA score.

Those with exceptional credit can find darling deals like the one you describe.

Unfortunately, 'NO DOWN PAYMENT' attracts those who have no down payment. It spirals down from there.

Downpayment.org  let me visit and see what they are about.

Here is the link that shows they think real estate agents will buy anything.

http://downpayment.org/what-is-a-certified-home-buying-advisor

Certified Home Buying Advisor 

Hi Bill,

I was involved with this group for several months before realizing they had taken a lot of my money and delivered very little in real, actionable leads!  

It all started out very well and I jumped through the required hoops to be a certified partner. A few months later I was offered ("pitched") an exclusive territory which I fell for at three times what I had been paying. Initially every week the number of leads was overwhelming and made me think I had hit a gold mine. Though, because of the high cost, I started to take a more critical look at the leads and response I received from them. I found many of them were "dreamers" and would unlikely ever be buyers and those I had in the pipeline were at least 6 months or more from qualifying due to credit repair issues and more. This resulted in my canceling because the return on investment was just not enough to justify the $1K/mo. payment! 

However, in retrospect, it should be noted that after working the best of the leads over the last 6 month's since canceling, not one has closed! 

I sat through their webinar (which started and ended late and felt like it was pre-recorded).  None of my questions got answered so every time they sent me an emal to sell me their system I asked for their responses to my questions.

I finaly heard back rom their "Area Production Manager" Chad Montgomery.

Here are my qestions and his answers:

have not heard of it

This one is not known to me. I have great lenders I work with who can help my clients who have little or no money to put down.

I am not familiar with them.

Glad to see you've decided to pass on this "opportunity", Bill Somers. Doesn't look like a good one. 

Whether it's legit or not, do you really want these buyers - they'll be competing with folks paying cash or with huge down payments in my area.  

Bill Somers - not sure if it is legit or not. And why would one want to pay for being an exclusive agent for this?

Never heard of them, but sounds like another place to pay money in the hopes of getting a lead.  Scam?  Maybe not.  Useful? Doubtful.

It seems like I get these type of offers daily. Run away.

I will study the address and phone number to death see if another similar names are not in

www.consumeraffairs.com

There has been numerous ripoffs .... Buyer beware

Interesting discussion > > Downpayment.org > > they say that of 30 referrals they send you, 4 - 7 will be qualified. Gee, thanks.

If nothing else, no one can find that they are licensed ANYWHERE. Can't pay a referral fee to non-licensed people.

RUN, FORREST, RUN. 

Hi Bill,

I'm the ad manager for DPO and happy to answer any questions you might have. To be perfectly tranparent our program does not work for everyone, but for those it does, they love it.

If they charge a hefty monthly fee plus a 25% referral fee that is not someone we want to become involved in. 

We're fine with paying an acautl referral fee for an actual referral but for someone that just filled out a form on a website, no thanks. 

Never heard of it. I'm lucky.

Thanks again Active Rain members!!

You saved me the research process after being contacted by these folks..

I'll pass on this one too!

Expensive why would one work for such little money. Keep your money and use it to work your business not there's right?

Sorry Bill, do not know about them.

There are lots of these kind companies that try to aggregate leads... (we'll try to attract potential buyers/sellers, and if we manage to do that ... even though the buyers and sellers don't realize that we're going to sell their names to some poor unsuspecting Realtor... we'll try to get you to pay for the right to call them)...

It's possibly legitimate, but also not likely to be profitable to anyone other than downpayment.org.

Never heard of it. Besides, buying a home with little or no money down may be a quick way to foreclosure in a short period of time.