ED Magedson – Founder
Formations, LLC - Shane Bohart1301 Walnut St Boulder, Colorado USA
Formations, LLC - Shane Bohart, M. David Paul Terrible Work Experience - Questionable Business Practices Boulder Colorado
Formations, LLC has repeatedly recruited sales professionals all over the country to procure real estate properties for their "existing" clients. The interesting thing is that over the past couple of years, several people have joined the firm, have worked their tails off to procure business for the firm, then have either been forced to leave or been booted out. While these individuals have not received a dime for their work, all the business that they created was left behind with Formations, LLC. Meanwhile, management has often bragged about running a business without having anybody on the payroll.
Formations, LLC has a revolving door of interns from the University of Colorado. In fact, the company management is always happy to disclose that they have had great support from the University, which keeps sending those interns who are made to do office work with little or no compensation. When these interns are fed up with the way that they are treated and decide to leave, they are instructed to write a goodbye letter itemizing all the "positives" of having had the priceless (sic) opportunity to be used at Formations, LLC. At least one of the interns has indicated that he felt pressured to write such letter. He feared that if he refused, his chances of securing gainful employment elsewhere might be affected. Meanwhile, Formations, LLC uses those letters as recruiting tools to convince gullible real estate agents and brokers to join Formation, LLC.
There is evidence that the firm has consistently recruited unlicensed individuals to broker real estate transactions, and has shared commissions with those individuals, which is an act contrary to the laws that govern the licensed real estate business in the state of Colorado.
Formations, LLC often leaves past associates names on their website long after they are gone, which makes it look like they are a successful and busy company.
One of the owners, M. David Paul, is just a ghost. We never saw him, heard from him or knew of his attendance of any of the office meetings. He was the reason we joined the firm, and we never heard his voice. The managing partner, Shane Bohart, is awful to interact with! He is one of those obnoxiously loud type-A personalities that constantly berate his work force. He treats people in a rather uncivilized way.
Go work for Formations, LLC at your own risk! But be warned. You will be made to work, and work, and work. Perfection will be demanded of you. You will be put on a schedule and weekly reports of your performance will be expected. You will not be allowed (yes, allowed) to express your opinion on any subject. Although you are hired as a contractor, Formations, LLC will rule you and will tell you what to do and how! And unless you have no personality and self-respect, before you even complete a year, you will be shown the door and all your work will go to waste. There has been plenty of unhappy associates join and leave this company for the past couple of years, including licensed attorneys. We all have talked about what an aggravating waste of time our unpleasant experience was.
This report was posted on Ripoff Report on 02/28/2014 01:16 AM and is a permanent record located here: http://www.ripoffreport.com/r/Formations-LLC-Shane-Bohart/Boulder-Colorado-80302/Formations-LLC-Shane-Bohart-M-David-Paul-Terrible-Work-Experience-Questionable-Bus-1127186. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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