Hi All-
Many of you know that I work to write very positive messages and by doing so, help our industry to move froward in professionalism and ability. I just had, what I can only think is a scam targeting experienced Realtors, tried on me. Gayle got an email talking about referrals from a lender in our area. I phoned back, the person who sent the email was "not available" but his assistant could help me. I told her about the email and said, "Oh sure, I can help you." She then went into a script about how their "Program" works. She passed me over to the Hawaii Area Manager then told me that there is a 10% referral fee when the transaction closes, which would be excellent as is it so low, and a small charge of $35.00 per "Approved Loan Application".
I ask him about increasing the referral fee to not have to pay the $35.00 fee per "Application"- LEAD(!) and he said no way. I started to share with him my reservations about working with an unknown lead source and he SLAMMED DOWN THE PHONE AND HUNG UP!
I was pretty ticked about it so call back to "Money Tree" assumeing that it was "Money Tree Lending", which we hear about on the TV via commercials all the time, to find their name is "Money Tree Purchasing."
I call them back to talk directly with the "Sales Manager" "Robert Beck" to ask him just what kind of operation he is running. I got is "Assistant Abigail" again, told her what happened and she went into mad caller mode with all of the I'm sorrys and such. I asked for Robert Beck again and she said OK and put me on the phone with her Operations Manager.
Again there were no straight answers, he did not know who the "Hawaii Area Manager" was as there were so many "Hawaii Area Managers" on his staff, not likely. I then asked him who Robert Beck is, thinking that he does not exist, and he said that Robert Beck is the Vice President (He must have just beed promoted from Sales Manager.) I then asked what Robert Beck's business address is, looking to see if it matched the address given on "Robert Beck's" email to Gayle, it did not.
I have to assume that this whole thing is a scam targeting Realtors in the business over "5 years with clean records." I have attched the email below for all to see and be on the lookout for.
From:Robert (Your Friendly Realtor) [mailto:MoneyTree@xmr3.com]
Sent: Wednesday, May 07, 2008 5:01 AM
To:gfujita@hawaii.rr.com
Subject:RE: Gayle Fujita Ramsey, I have a referral in Aiea, 96701!
Dear Gayle,
I was referred to you as an active real estate agent working with buyers and sellers.
We have a few buyer applications in Aiea, HI 96701that have been pre approved for a loan. These applicants are looking to buy a house within the next 0-180 days and have been verified. They need a real estate agent to find them a property!
Can you call me at (818) 444-7295 Ext. 8016 to give you more information about these applications?
Thank you,
Robert Beck
Sales Manager, Money Tree
6433 Topanga Canyon Blvd. #602 - Canoga Park, CA 91303
(818) 444-7295 Ext. 8016 
Phone: 808.485-0855
This email has been sent to you on Behalf of Money Tree Funding
It's me again...I know business is getting tight out there, please be careful when these kinds of scams..."Promotions" come along.
Cheers-
Mike
UPDATE!!! September 2008...
Well, they are still at it. There have been dozens of posts from the time I put this up and they have a new Manager's Name, but the same address. Here is the post...
There's a new comment on the blog entry BEWARE!!!!
Comment by Barbara Kehl Yuma Arizona Real Estate:
Thank you Mike and Gayle!!!
I just received this e-mail, except that mine is from Mark Smith! Anytime that I have any doubt as to the validity of a business that is e-mailing me, or sometimes even some of the phone calls that I receive, I do a little Googling!
Looking up Mark Smith, Sales Manager, Money Tree didn't show me quick enough results so I goggled the address - and that lead me straight to you!
Thank you for your blog. Knowledge really is power!!!
Nyana - Office Manager, Barbara Kehl Realty
Maybe Robert Beck was out last weekend, hit his head and when he woke up he thought he was Mark Smith.?.? There may be a "Mark Smith and may not be a Mark Smith but it sounds like Mark Smith is the Manager of the Week with our old friends.
Be Careful out there!
Cheers-
Mike
Hey Mike! This is Mike from your old C21 office! I just posted a blog a few days ago about these infernal "Leads" dealers (see "I hate to admit it, but...") . I have yet to hear of one of these so called referral sources that isn't just a scam. And watch out AR Bloggers! hey are trolling our blogs to find us!
Good seeing you here at AR!
The Internet is the Garden of Paradise for con men. The anonymous and impersonal nature of the medium makes it easy and cheap. Many of these scams aren't even run from the United States. If it looks too good to be true, it probably is...
Never give out credit information over the phone to someone you don't know. It shocks me when legitimate businesses ask me for it. I had one company upset that I wouldn't give my social security number over the phone.
Yep, got the same exact email this mornig. DELETE.
Jeff
Thanks for the confirmation of my suspicions. I too received the exact same letter in my e-mail this morning.
Thanks for your posts Janet and Jeff- I am glad this story is still posted on Activerain to keep helping our Realtor Community!
Cheers-
Mike
Thank you very much for this. I am glad I googled the name and address of Money Tree and found this before I thought about calling anyone. You all saved me some annoyance.
I got one of those emails too.
Thanks for sharing this with the community. Sad to see.
I guess I should not feel so lucky that I was "selected" (just kidding).
My copy arrived just moments ago. Smells like a scam so I, like others here, Googled "Robert Beck" "Money Tree" and found this blog.
Many thanks for saving us from this hassle.
Hi All-
I LOVE ActiveRain! I posted this blog nearly a month ago and people are still finding it! It's great to see a moral and ethical act that keeps on giving! I hope you are all finding success and making your clients happy!
Cheers-
Mike
Thanks for the heads up, I just got this email today.
I got this same e-mail! So, I googled the number and got to this blog. Google also pulled up a craigslist posting for a full time job opportunity with them! Gosh!! Thanks for the scam warning!
I can't tell you people how happy I am that this post has helped you all make informed decessions about this company. Have a GREAT Summer!
Cheers-
Mike
I thought I would add some of the reports I found by other people on other sites.
"This is a phone number of a fraudulent company, who represent themselves as "Money Tree Funding LLC". This company does not exist, it is not registered in US as such. It is a scam targeted for realtors, where they offer solid buyer leads in exchange for a modest payment, such as $20, 25 per lead. Their so-called "website" is just a front and does not have any business at all behind it. They first send you an e-mail and them call you. Do not get victimized by them!!" By Unknown
"Unfortunately, I didn't do my diligence and was taken for $1,500. I am now in the process of filing complaints with the Attorney General's offices in California and Maryland, as well as with the Federal Trade Commission.
I have also filed a complaint with the real estate/broker regulatory agency in Calfornia, as after talking to them, Money Tree Lending is required to have a license since they represent themselve as a "national commericial broker".
I would love to hear more from you about you specific experiences. I am located in Maryland, where are you located? If there are others that read this posting and have been taken advantage of, I would love to hear from you as well." By LRC
These are just quotes but I thought they were important enough to share on this blog.
Great information! Thank you for adding these quotes. I am sure they will save many Realtors time and trouble.
Cheers-
Mike
What a wonderful thing the internet is! Sure, it let Robert Beck find me, but it also let me find this blog. I've been getting his emails for several months now and finally thought I'd check it out. Can we say BLOCKED SENDER?
Parley
www.kennellyrealty.com
I just received my email this morning- googled Robert Beck and came up with all of these wonderful entries. Isn't modern technology wonderful! Thanks so much, I have added Mr. Beck to the blocked sender's list as well. Blessings out there- keep up the good work. Anita
If he is a friendly Realtor, why isn't he included in the CAR's membership? There is a Bob Beck, but on his website his photo looks different and he actually seems to be selling real estate.
I noticed also at the end of the friendly guy's message was my own phone number in light grey text. I guess I should expect a call now, too.
Cheers,
Robin
I got the same e-mail, evidently he was re demoted to sales manager. Mahalo! for all of the legwork. Realtors have a hard enough time fighting reputations, we don't need more wolves preying on us.
Thanks again!.
Shad Dennis
www.shaddennis.com
AGAIN, Thanks so much. I received this e-mail this morning and decided to google him to see if this was actually legitimate or a scam and I found this post right away!!!
It is so easy to identify scams these days.
That's the only downside to all this SEO/social networking stuff. We open ourselves up to more of this type of asault
Thanks for the info... Anywhere you can make an easy buck, you will find con artists.. Now that the Real Estate Business is faltering, those in the business are easy targets.. as sometime the desire to make a sale gets in front of our good judgement.
Thank you for the info and input. I too received the e mail signed Robert Beck, and called this outfit back, winding up talking with Abigail Hoffman. I thought the whole thing sounded too good to be true, especially in these times of scarce buyers. The idea of 120 pre-qualified, guaranteed buyer leads per year just didn't sound credible. $35 per lead plus 10% also sounded too good to be true, and the up-front money ($35 per lead x 10 per month) did not fill me with confidence.
Flash forward. I let Abigail know I'd need some more time to think about this thing, and heard back from her 3 days later. She proceeded to suggest to me that her 10% referral fee could be negotiated during the initial 3 month trial period to "make it more affordable" for me. That made no sense to me. Once a buyer has bought and a commission has been paid, a 10% referral ought not be a bank-breaker. She then suggested that if I weren't satisfied with the results of the first month's 10 referrals, I would be able to cancel. I was curious to see the fine print, and agreed to let her fax me an "Automatic Application Delivery Agreement".
Sure enough, this agreement spelled it out clearly: "I understand that my payment obligations during the commitment period (3 months) are non-cancelable and non-refundable." It also stated that a 10% consulting fee would be due to E-Realty Loans no later than 45 days after the close of escrow from each application. A small-printed final line read: "Please do not attempt to modify the terms of this agreement as doing so will cause it to be invalid and not be accepted."
There you have it. Abigails reassuring words in direct conflict with the fine print she faxed me less than 5 minutes after we hung up. Can we say unprofessional? Suspicious?
In any case, this inconsistency caused me to google this outfit, and to find this blog. Thanks, colleagues, for sharing your thoughts and experiences, and for helping me avoid an expensive mistake. I hope this site will help other Realtors as well.
Looks like the scam is all over! See:
RE: Woody Dahlen, I have a referral in Seal Beach, 90740!
Wednesday, July 30, 2008 8:02 AM From: "Robert (Your Friendly Realtor)" MoneyTree@xmr3.com
Dear Woody,
I was referred to you as an active real estate agent working with buyers and sellers.
We have a few buyer applications in Seal Beach, CA 90740 that have been pre approved for a loan. These applicants are looking to buy a house within the next 0-180 days and have been verified. They need a real estate agent to find them a property!
Can you call me at (818) 444-7295 Ext. 8028 to give you more information about these applications?
Thank you,
Robert Beck
Sales Manager, Money Tree
6433 Topanga Canyon Blvd. #602 - Canoga Park, CA 91303
(818) 444-7295 Ext. 8028
I just got my letter (exactly as others) yesterday from Robert (the friendly Realtor). I checked AR to see if I was getting spammed and found your blog Michael. Unfortunately I unsubscribed instead of just marking it as spam. Thanks for the heads up!
Raleigh Realtor - Pamela St. Peter
Thank you Mike and Gayle!!!
I just received this e-mail, except that mine is from Mark Smith! Anytime that I have any doubt as to the validity of a business that is e-mailing me, or sometimes even some of the phone calls that I receive, I do a little Googling!
Looking up Mark Smith, Sales Manager, Money Tree didn't show me quick enough results so I goggled the address - and that lead me straight to you!
Thank you for your blog. Knowledge really is power!!!
Nyana - Office Manager, Barbara Kehl Realty
MIke & Gail,
Thank you for adding me to your post! I hope that you don't mind but I also blogged about this and linked back to this post and your page. (DIRTY EVIL SPAMMER SCAMMERS!)
Again, thank you for sharing, it was a huge help!
You two have a wonderful day!
Nyana
I think they changed there name
www.nationwidefinancing.net
Got a similar solicitation this week fia fax although it appears this company is now "Citiwide Lending Group" as opposed to Money Tree. Hence associating themselves with CitiGroup Mortgage in some manner. This is very deceptive and I will be reporting them to the State of California for possible investigation. I checkd their website and it says nothing about CitiGroup. After checking California records (which takes about three clicks on the internet these days), it appears their broker was suspended in January 2008 for 90 days for something.
http://www2.dre.ca.gov/PublicASP/pplinfo.asp?License_id=00430256