Why are my deals falling apart! This is insane. I have specific directions to the buyer broker on the mls and it seems as if they can not follow. NO THIS HOME CAN NOT GO FHA! How simple is that? A pre approval letter is required! How simple is that? This is making me look bad to my asset managers. WHYYYYYYYY!!!!!!! But hey it happens so I pray thank God for the opportunity and its on to the next one!
I had a deal this year that went on for 7 months before finally being terminated. The agent was so sloppy and incompetent that his broker fired him the day after the transaction finally came to a conclusion. But it also cost me the listing (and others) from the Big-4 bank. And I still don't know if I will get anymore listings from them because of this.
Sometimes you can do everything right and it still goes South, just the nature of the business (and the current market) we are in! One thing I learned the hard way was to hold all offers until the package is complete and proper, never send an incomplete package to the asset manager regardless of what the Buyer's Agent promises!
As an REO listing agent, I try to take the time to explain to the buyer's agents the process, if I haven't done a deal with them before, and they are appreciative of the learning experience. I learn something new myself with each transaction and it continues on up the ladder.
I am excited to say that our next panel is going to be the Zoning folks from the two counties I work in, DHEC, code enforcement, and a lawyer r to talk about the zoning, set backs, code requirements and where to find the information needed and who to ask.
With these monthly classes set up we may not be able to reach all the agents (we have over 3000 in our association) but we can certainly help those of us that want to learn do so.
So, why are your deals falling apart? EDUCATE THE BUYERS AGENTS AND THE CLIENTS!!!
That's my two cents and good luck.
Rose- Sundance Realty S. Fl.