Ramsey Real Estate Agent is a network of top-rated Realtors who adhere to Dave Ramsey’s financial principles, helping homeowners buy or sell homes while negotiating good deals at auctions and estate sales. In addition, these experts provide advice regarding mortgages and retirement planning as well as coaching services for their agents.
Critics claim that the high fees imposed by this company render it unprofitable for most real estate agents and that its program doesn’t deliver enough value for its price.
Ramsey Solutions, founded as Lampo Group LLC and later rebranded to Ramsey Solutions by radio host and financial guru Dave Ramsey in 1992, is an NAR real estate brokerage member that was rebranded in 2014.
Consumer Allocation is another fraudulent business model used by Lampo Group LLC under its Ramsey ELP brand to deceive consumers when purchasing or selling homes. Consumer Allocation involves hiding referral fees from consumers when they buy or sell, amounting to 30% of gross commissions of any realtor involved with consumer allocation scheme; Lampo Group, LLC charges consumers an equal fee that defrauds them out of full representation services.
Ramsey Solutions operates multiple businesses related to real estate, such as Virbela, Success Magazine and Express Offer. Furthermore, it owns a real estate brokerage firm called eXp Realty which was founded by former broker Glenn Sanford who has over three decades of experience.
Ramsey Solutions does not employ as many agents in its network as other real estate firms do, which means its vetting process may not be as stringent. Furthermore, Ramsey does not screen agents for criminal backgrounds or disciplinary actions.
Although its website doesn’t disclose any details regarding how or why the company selects Realtors, some experts suspect it will accept any Realtor willing to pay a referral fee and that these hidden costs increase real estate costs significantly for consumers.
Many customers have complained about the inadequate customer service from Ramsey Trusted agents, with some alleging they were assigned an agent who failed to meet their expectations or was unable to sell their house quickly. Furthermore, several brokers allegedly did not return phone calls and emails.
While Ramsey ELP may be an effective way to find an agent, for most buyers it may not be their ideal solution. There are other real estate agent finding services with more selection of agents and lower realtor commission rates. UpNest provides an agent matching service similar to Ramsey ELP but with tighter vetting criteria and larger selection of Realtors; their platform matches you up with three agents based on your location and needs before sending names and contact information of these three realtors directly to you.