I have recently had some experiences with asset managers that make me scratch my head. In more than one instance with multiple offers, it seems that the only concern the asset manager has is price. Does $10,000 really make a difference when you have a full price cash offer on the table, but the AM opts to take an offer for $10k more with financing contingency? What about the property that should never pass FHA but they opt to take that offer because it is for more money? How much does our opinion really matter?
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Wow, good post Craig. I hope I can shed some light here.
Is your opinion important....well, let me just say it's considered in the bigger picture however isn't the sole factor.
Most of the AM's jobs are contingent upon monthly quota numbers. In other words, most of these AM's are treated a lot like sales people so, for many, if they are down in the amount of money they were able to salvage from thier deals, then it becomes an issue of how many pennies they can pull from each remaining deal.
So, yes, for some, it's all about the money and nothing else. The reason is because thier bosses are held to the fire when it comes to how much loss was actualy mitigated, hence, Loss Mitigation.
Craig Alexander > Jesus (Jesse) GonzalezSeptember 19, 2008 at 7:19am
Thank you Jesus. I'm glad to know that my opinion does count for something. I am also glad you helped explain a little bit about the AM's job and how they have a quota.
Replies
Is your opinion important....well, let me just say it's considered in the bigger picture however isn't the sole factor.
Most of the AM's jobs are contingent upon monthly quota numbers. In other words, most of these AM's are treated a lot like sales people so, for many, if they are down in the amount of money they were able to salvage from thier deals, then it becomes an issue of how many pennies they can pull from each remaining deal.
So, yes, for some, it's all about the money and nothing else. The reason is because thier bosses are held to the fire when it comes to how much loss was actualy mitigated, hence, Loss Mitigation.