08/26/2026
🚨 WARNING FOR REAL ESTATE AGENTS! PLEASE SHARE FAR AND WIDE! 🚨
I want to warn other real estate agents about what I believe is a fraudulent REO listing scheme involving someone identifying himself as Zach Bennett with Nexus REO Partners / Nexus REO.
I was contacted through an unsolicited email. He said that First Citizens Bank had referred me to him because he was looking for real estate agents to handle foreclosure and REO listings. He then asked me to get on a phone call with him, which I believe was intended to establish trust and make the opportunity appear legitimate.
REO platforms do charge agents fees to participate, and he told me their fee was $500. I paid the $500 and was then asked to complete a Broker Price Opinion (BPO) on a property at no charge. I was told this property would become available for me to list.
On August 21, 2026, he contacted me again and said the property would be ready to list around mid-September. He sent me a listing agreement, but there was no place to enter the list price or listing period. He also told me he had two additional listings coming up for me.
At that point, I contacted another REO real estate agent who independently received the same solicitation from the same person regarding the same property. She also completed a BPO, paid $500, and was promised the same listing.
That is when I became very concerned and began researching the company, website, phone number, and the person contacting me. I also found other real estate agents discussing similar $500 REO-related solicitations.
⚠️ PLEASE BE CAREFUL. Just because someone has a professional-looking website, knows real estate terminology, sends you a BPO, and talks to you on the phone does NOT mean the opportunity is legitimate.
Do NOT send money or provide your credit card information until you independently verify the company, the person contacting you, the financial institution they claim to represent, and the actual property.
I am reporting this matter to the appropriate authorities because I believe other real estate professionals may have been targeted.
If you have been contacted by this person or believe you have lost money in connection with this scheme, please document everything and report it to your local law enforcement agency, the FBI/IC3, BBB, and FTC. If you paid by credit card, contact your credit card company immediately and dispute the charge.
Please share this post with other real estate agents, especially those who work with REO and foreclosure properties. Let's keep someone else from losing their hard-earned money. 🚨
