Clear Capital: Intelligent Valuation Solutions Clear Capital: Intelligent Valuation Solutions Real Estate Agents: Avoid Clear Capital Valuation Solutions, Truckee, California Nationwide
Attention Real Estate Agents Nationwide: Avoid Clear Capital Valuation Services at all costs.
They request real estate agents to complete Brokers Price Opinions (BPO's) on REO (foreclosure) properties and, after the report is complted by you and submitted to the company, they make it almost impossible for you to receive payment for your work.
I have been going around and around with them over a BPO report I completed and filed with them.
They have said the work completed by me was fine, but they keep coming up with ridicuolous reasons why it was not quite good enough.
Now they are saying that they are refusing to pay me for the 5 hours of work I put into the report.
In talking with other agents that I know, they have said that they experience the same problems with Clear Capital Valuation Services.
So, if they call or e-mail you with requests for BPO's, my advice is to pass on it and find other more reputable companies to work for and with.
Clear Capital is a horrible company to do business with.
2 Updates & Rebuttals
Iowa REALTOR
Bettendorf,Iowa,
I stand by my original complaint. Completely.
#3Author of original report
Wed, June 11, 2014
I stand by my original complaint. Completely.
Clear Capital did nothing to attempt to rectify my complaint.
And, if you really have no record of me filing a complaint, it is because your three employees that I
1) Chatted with me on live chat, and who hung up on me.
2) Spoke with on the telephone, and
3) E-mailed back and forth five different times. .. (and I have the hard copy records of same).
Never reported the complaints to you.
As of now, I have retained legal counsel and am considering the possibility of taking legal action against you.
And, in addition, I have e-mail evidence that your employees attempted to persuade me to falsify a previous BPO report that I filed with your company on your behalf.
So, you can say whatever you want to in terms of a rebuttal to my report.
I have chosen to let my attorney speak for me from here on out.
I will see you in court.
Kevin
Truckee,California,
We Treat Our Vendors With Respect.
#3REBUTTAL Owner of company
Wed, June 11, 2014
We are responding to the complaint posted by an Iowa broker on May 29th, claiming non-payment from Clear Capital. Ongoing communication with our vendors (real estate agents and brokers) and customers has always been the foundation of our high quality, timely reports, and our multiple communication channels (phone, email, live chat and website) help ensure no report falls through the cracks.
Clear Capital’s network of brokers and agents depend on us to pay on time, every time. For over 13 years, we have paid every broker and agent for all approved work that has been delivered. We pride ourselves on timely payments because we know this helps foster the respect that leads to mutually beneficial relationships with our vendor network. Our processes support our promise to our vendors—to treat them fairly and with respect.
To ensure clear communication at every stage of the report lifecycle, we invest in people and technology. Our doors are open 6am - 6pm, Monday through Friday, and 7am - 4pm, Saturday and Sunday. We have an entire department devoted to Vendor Services. We speak with brokers and agents daily and encourage them to do the same, either by phone, live chat or email.
At the time of onboarding, each broker and agent receives a unique ClearCapital.com account. From the time we solicit a report to the final delivery and payment of the report, vendor and report activity are tracked in the vendor’s account. Before the broker or agent accepts a report, expectations are outlined in the engagement letter. If at any time, the broker or agent struggles to complete the report, we expect them to update us by email, live chat or via the communication center in their ClearCapital.com account.
After the broker submits the report but before it goes to our customer, we review using two layers of automated quality checks and human review by one of our Quality Assurance experts. If the report is incomplete, inconsistent or requires further explanation of anomalous market or collateral conditions, we instantly send back to the broker or agent with notes guiding them to the areas that require attention.
There are situations that warrant removing a report from a vendor’s account. We never make this decision lightly, and always communicate this clearly and directly to the broker or agent. And, when we do remove work from a broker or agent’s account, we always discuss payment options to account for their time.
We pay the first week of every month for all reports approved in the previous month. In certain states, we make exceptions in order to comply with state regulations, which may require more frequent payment cycles. In these cases, we cut checks based on the individual state legislation. We also complete a monthly reconciliation on a per-assignment basis to ensure all completed assignments have been paid on time.
If vendors have questions on payment, they have several ways to contact us: phone, live chat, email, and via their ClearCapital.com account. We also provide them with the contact information to our Accounting Department, also posted on ClearCapital.com/company/contact.
Although no applicable regulations require a process for broker complaints, Clear Capital actively maintains a log. At the time of this writing, our Legal/Compliance Department has not received a complaint from an Iowa broker or any complaint resembling the report posted on May 29th.
We hope more insight into our processes also encourages the broker or agent filing the complaint to reach out to us directly at payments@clearcapital.com or vendor@clearcapital.com.