Institute of Commercial Real Estate
www.myicre.com
claudia t Bkt
Decatur, Texas
The institute of commercial real estate are fraud
On the Saturday 27th of September of 2008, I purchased a training package from the institute of commercial real estate, the cancellation notice says that I can cancel within 3 days. I cancel on Monday 29th of September of 2008. When I cancel, I was told to wait 10 days for the money to be refunded. I should of got my money on the 13th of October 2008 but I did not. I called and talk to Beatice Lebron she said she was going to look in-to it and she never did. Finally after so many attempts I asked to talk to a supervisor and they transfer me to Karen Church. She was rude, she has no intentions on refunding me my money nor helping me resolve the issue. Karen Church is the most unethical, rude, and unprofessional supervisor I have ever dealt with. I am tired of dealing with her, and I have decided to deal with Cindy another rude representative from the company. I am so distress that this company are stealing people’s money and when customers contact them they are not willing to help them. I want my money back, I do not want a phone call saying that is on its way. It is not too hard to process a refund, but Karen and all the people working on that company are so unethical that do not care about their customers. They should not be in business, it is not fair to be treating people like that. I cancel on-time, I requested my money back, they said that it is in the process since the 29th of October of 2008. I am tired of dealing with them and been treated like a second class citizen. Every time I contact them they say that I will get my money, they are liars, scammers and thefts. All I want is my money back, Karen Church to be fire or the company to be shut down. I do not believe that people like them should be in business taking advantage of citizens and treating them like bad.
Loss:
$2995
2 comments
buyerbeware
Phoenix, Arizona
Institute of Commercial Real Estate (ICRE)
To save future potential victims of the Institute of Commercial Real Estate (ICRE), I would like to pull back the curtain on how hucksters like the speakers of this "Institute" use subliminal pressure to get you to buy into their product or service. I am a speaker and have taken speaker training that teaches how to sell from the stage. These skills can be used for good or evil, and tonight, I witnessed a VERY smooth operator from the ICRE (try) to snow an audience in Phoenix, AZ. So I wanted to share the signs to look for in these free presentations to determine the validity of the speaker and product being pitched. If the speaker uses these tactics in abundance, RUN don't walk to the exit: 1.Uses the same phrase over and over which engages subliminal programming. In tonight's case, it was two: "Enroll Tonight" and "As a member of the institute..." I counted over 80 (!!) times the speaker, Ed Lisogar, said these two exact phrases. He was basically programming the listeners to be members. 2. Hit on all potential objections before anyone asks a question, then rebuts them all in a very convincing manner. 3. Plays on two basic emotions: Fear, and Greed. He'll reference the poor economy, having to go to a real job, not having retirement income, AND hit on easy riches, giving you pretty pictures and balance sheets of deals that have made him rich. 4. He'll give too-good-to-be true testimonials. He'll show you photos of himself and pretty girl in a far-off land. Show cars, homes, property, income check, and tell you YOU too can live this life. 5. He'll ask questions throughout the presentation that only have one potential response - "Yes." He is basically training your brain to say Yes to whatever he asks, so when it comes time to ask for the sale, you are already programmed to say Yes. He'll ask things like: "Wouldn't you like to have $50,000 passive income a month?" (audience responds with Yes, unwittingly playing into his mental manipulation trap.) 6. Speaker will repeatedly TELL you to "Write this down." Another subliminal way to program you to follow his instructions. Watch how the audience all grab their pens when he says to write this down. (Think, Hitler). 7.He'll establish dominance from the get go by telling you all the reasons he's qualified to be talking ot you. It's called "Earn the Right." He'll brag about being nominated for an award (never having won it), and brag about how his system is patented. He's establishing his credibility in your eyes, and creating perceived value in the system he's selling. 8. He will start making personal connections, first with the entire audience ("because we're all neighbors in Arizona", etc.), then move onto individuals, calling them by name, shaking their hand, asking them to read things to the group, asking leading questions that he knows will be answered the way he wants it to. Beware... he's intensifying his close when he starts doing this. 9. His speech speed will increase when he's really going in for the kill. This is a method of hypnotizing the crowd. 10. He'll start offering too god to be true bonuses, slash the price of his package, use scarcity to get you to buy (only five packages available, only two seats left, etc.) 11. He will not take questions throughout his shpeel. This is his way of controling the crowd. Even when he does take questions, he is still in control by asking people not to come up to the stage for questions (his domain). He's maintaining dominance by keeping people seated while he remains standing. If you know anything about NLP (Nuero Linguistic Programming) you'll recognize these tactics immediately. If you aren't familiar with NLP, and many people are not, you run the risk of being hypnotized into buying these guys stuff without doing your due diligence. Would you buy a piece of real estate without getting ANY details? No. So ignore his attempts to guilt and shame you into buying right away. He will insult and deride those who do not follow his instructions, and use them as an example of a "loser" so he can get the people left in the room to believe they are NOT losers, if they only buy his stuff. Think about it... if he is making $100,000 a month passive income from his real estate and other holdings, why on earth would he be up there selling a 3-day event for $3k? I'll tell you a secret... he's getting a commission which is normally 50%. But that's not all... at that three day I'm going to guess they will be "back-ending" you (that's insider term for selling you a higher-priced package). I'm guessing the price point for whatever coaching or software they will pitch you at the 3-day event will cost between $8k-$20k. And guess who gets a commission on that for putting you in the room? Yup, the guy giving you the free presentation. So let's do the math: He does 8 presentations in his city, putting perhaps 400 people in the room total. A typical "Closing ratio" is 12%, so that's 48x$3,000=$144k. Then let's say10 of those folk go on to purchase the upsell offered at the event at $12k. That's another $120k. Add those two up and that's $264,000. He earns 50%, so that's $132,000 in the speaker's pocket, all for 4 days of work. Not bad, eh? So he has expenses... 2 staff, hotel room costs, advertising (which may be covered by the conference producer), so let's say he pockets $110k. In 4 days work. No WONDER he's not sticking to doing real estate deals, which actually require work. And I'll bet the attendees who did NOT purchase get a followup phone call trying to close them on the 3-day event by offering them an additional discount. There is ALWAYS another day, another package, another training course, another opportunity. Don't let these snake-oil salesmen goad you into making a financial decision. Go Google this guy, the so-called founder, Cherif Metowar, and the organization ICRF. If you REALLY have to have their training manual and DVDs, check eBay for a copy of it from an ex-student. And do you due diligence before forking over your education funds. Caviat Emptor.
7 comments
Ceaser Sit
Mexico, Capital District
This company is the best in the seminar business
I am not crazy about seminar companies but I truly learned a lot from this company. The Founder is experienced and and very motivating. He inspired my wife and I to get started in commercial real estate and it is the best thing that happened to us. The support people are patient and their website is very well put together. I find it unfair when people complain about them as my whole group was treated like valuable members of a first class operation. I recommend them to any good business person who wants to focus on common sense and real practical ways to make lots of money in any market.
Anonymous
Los Angeles, California
ICRE Intro Seminar Review, July 14, 2008, Irvine, CA
My experience in judging the intro seminar includes brokering commercial real estate loans (only, no residential) for the past 15 years, owning part of and managing an office building for five years, and brokering commercial real estate leasing and sales transactions for 9 years prior to entering the loan business. Nearly ever business day for the past 24 years I am in many discussions with buyers, sellers, appraisers, title company reps, CPA's, attorneys, financial planners, developers, brokers and lenders about every aspect of commercial real estate. So I feel a certain amount of expertise in this subject. My gereral conclusion about the seminar I attended is that from beginning to end it was filled with lies, misrepresentations, half truths, outright starements of situations that hid the real cost, risk and time required to transact the purchases described. Detailing the many false statements would take many pages if properly explained. Just trust me, this thing was and is a total fraud. Anyone that attends the paid for seminars will be deeply disappointed in the real world that follows. A real indication of the fragile nature of the claims made came in the inability to ask questions or raise issues during the presentation. Instead the instructor said he would answer questions after the presentations, at which point most educated listeners would be disgusted to the point of just wanting to leave. This is exactly what happened to me as the formal presentation was over and the audience either buying or leaving.
Glen Cjq
Chicago, Illinois
Institute of Commercial Real Estate
They talk a great game and promise a 3-day period to change your mind and give you a 100% refund if you decide not to attend their training. I cancelled on time. I even have written confirmation that my credit card will be credited the full $2995 in 10 days. I've called and emailed, but 38 days later they still cannot give me an answer. I've followed up with Customer Service, Accounting, and Quality Control, yet no one has accepted responsibility, nor resolved the issue. Maybe it is just a small, unintentional mistake they regret, and will eventualy correct. Do you want to bet $2995 your experience with them will be better then mine?
Loss:
$2995
nilshelppi H
Pacifica, California
Www.MyICRE.com complaint
I agree with the critical comments about ICRE. I attended one of the free presentations by Cherif Medawar, and subsequently paid about $2250.00 to attend the 3 day seminar (by partnering up with a guy I met there...so ICRE gave a bunch of us a discount by signing as a pair, even though we weren't related. He is very personable and, very persuasive. In our group there were an awful lot of college educated people, real estate agents, mortgage brokers and quite a few who already owned commercial property who also signed up. The promised website is very, very minimal. In Feb 2008 there still is not a list of 1500 national corporate tenants. There is no list of hundreds of lenders. There is no big community of ICRE grads posting opportunities. All that was a bunch of "hot air". Quite a few of us tried to Google seach for back up info on the web about ICRE and Cherif. There is essentially no third party reporting. It's like they are invisible on the web. I imagine that ICRE has staff diligently working to keep the "news blackout" going. By all means do not pay with a check, as you will have no leverage for a refund. Even using your VISA or MASTERCHARGE doesn't provide much assurance that you will get your money back if you think they didn't deliver the goods. We should all realize that the credit card companies earn 3% on all the sales that ICRE does...so that is really BIG MONEY. Who is more important to the credit card companies???? ICRE with sales of $10-25 million or Jane Doe charging $3000.00 ?????? In my opinion ICRE is not worth it !
29 comments
naishche A
Banks, Oregon
Do Not Fall for Institute of Commercial Real Estate (ICRE)
I attended the ICRE sales presentation in Portland, Oregon in October with about 30 other people some of whom paid $2,995.00 at the introductory presentation in order to attend the ICRE 3 day seminar shortly thereafter. Founder Sherif Medawar leads to believe that by signing on you will receive valuable real estate analysis software, access to a private, members only ICRE website which has valuable contact names and numbers for national corporate tenants looking for new locations ( Starbucks, Burger King, Subway and 1500 more), names and contact info for institutional and private mortgage lenders specializing in funding commercial real estate, personal coaching staff, and finally, a website area devoted to networking amongst seminar graduates for the purpose of working on joint ventures in commercial real estate projects. The initial presentation that I attended took place at a hotel in Portland. The ICRE organization had placed a full page advertisement in the Oregonian newspaper with quite a lot of hype. At the two hour presentation Cherif Medawar told us that ICRE was his own creation. He said that we could learn the ways to earn big money in commercial real estate by using his patented “FACTS” system, the company’s website, personal coaching, and special software. However, on day two of the seminar, after the “get out at the end of the first day and get your tuition back” guarantee has elapsed the ICRE “teachers” tell the victims that the RE analysis software costs from $5000.00 to $17,000.00 depending on the level. As of today www.MyICRE.com 1.The analysis software is an extra cost of $4995. They didn’t mention this until day two of the seminar. We were lead to believe it was included in the original price. 2.The website doesn’t provide a list of 1500 national corporate tenants looking for new locations. In fact there is no such list available on the site. Recently some other victims of this fraud who are asking for refunds were emailed a non-functional Excel spreadsheet purporting to contain this info. 3.The “Members Community” part of the website doesn’t have hundreds, as promised, of private money lenders. 4.The “Members Community” part of the website doesn’t have hundreds, as promised, of individual listings of commercial property buyers, sellers, traders. 5.The “Members Community” part of the website doesn’t have hundreds, as promised, of individuals networking on setting up deals. 6.Other victims have been told by ICRE tech support that the promised website information is still months away.
13 comments
Needham Qbu
Los Angeles, California
Institute of Commercial Real Estate
I have had the privilige to attend of of the best lecture presentations on real estate ever. I enrolled in a memebrship with the ICRE organization and received a three days intense live training. That company is grwoing fast and is adding to their network of investors weekly. I was skeptical at first whether I will be getting the right live support that they kept referring to but so far they've been very helpful. I wish I had attended a training like that many years ago instead of investing so much of my time and effort into residential real estate. My wife has also attended the training and we have just completed a purchase of two small but profitable office spaces with nice positive cash flow. The only negative comment I have about the ICRE organization is I wish they had a special training for RV homes because we think it is a very luctrative type of investing and they told us that this training will not be available till next year. Well if it will be as good as what we have already received on retail and other types of commercial we are willing to wait for it. We hope this feedback can help other hopeful individuals like it helped us.
7 comments
nilshelppi H
Pacifica, California
ICRE , DYNETECH, TELLIGENIX Git rich quick
Trying to perform "due diligence" on an investment of $3000.00 involving these Florida companies proved impossible. The companies are all interrelated, and work out of Orlando, Florida. They have a really shiny magazine called "Growing Wealth". I'd say that out of 75 pages there are maybe 10 pages of informative articles, the other 65 pages are multiple ads for finance companies and individuals offer to loan money at high rates of interest. Hopefully, more customers of these outfits will post their comments here and on other internet sites so that other potential customers can at least get some more info on which to make an informed decision on spending $4000.
4 comments
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I took the training despite the few bad comments and I can vouch that it was incredibly well organized and presented by the founder himself
Excellent job and kudos to him for not wasting his time worrying about the negative people out there
The above person received his refund if full and also kept the DVds, all the material and some CDs (who is the one committing bad action here?) you be the judge.
Also this person NEVER took the training to say the company should shut down! That is very negative. this company helps many investors that are grateful such organizations exist.