Just kidding, I know a few REO agents in my area like this guy, I was trying to show a house on Sunday to a client, and the agent didn't want me to show it, I am sure he already has a contract ready, the house has no sign, no lockbox, and to make an appointment to see it, you have to call his cell phone, rather than his office or the showing desk. Even the locks on the doors are not nu-sets or anything that most REO agenst use.
Also some agent in my area, don't even take pictures of theis listing, don't go to see their listings, etc, most of them use the same remarks "needs work, remover paragraphs 1 to 52, listing agent hold EMD, bank addendum, seller's title" one of the homes has 5 bedrooms 4 bathrooms, central air, fence and it is in good shape, but remarks have it as oil radiator heat, 3 bedroom 2 bath, in need of total renovation. The sad thing is that some of those agents are the power listers in the are with 100+ REO listings, if they can't handle that much and do a good job, they should be honest with their clients and let them know to find another agent who can do a better job. I believe we have a responsibility adn fiduciary duty with our clients.
Awesome! My wife, (not an agent) understood the whole thing, as she hears about it everyday. I actually gave up on a client this weekend. 8 offers, all out of my area, and only one e-mail letting us know that the seller chose a cash offer over the asking price. Tough game out there.
Kyle Whissel > Mark McMahonOctober 12, 2009 at 11:01am
It is pretty bad out here in San Diego. I have a few friends in their mid 20's trying to buy their first condo using FHA financing and there is virtually nothing they can do. The condo either doesn't qualify for FHA or they are getting beat out by 50 other conventional or cash buyers.
A couple have given up and decided to save up till they can go conventional or the inventory levels rise so the competition decreases.
It was scary how accurate some of the things are in that video. There are many agents who are developing reputations for being "that guy/girl". This will haunt them for years to come!
Replies
Also some agent in my area, don't even take pictures of theis listing, don't go to see their listings, etc, most of them use the same remarks "needs work, remover paragraphs 1 to 52, listing agent hold EMD, bank addendum, seller's title" one of the homes has 5 bedrooms 4 bathrooms, central air, fence and it is in good shape, but remarks have it as oil radiator heat, 3 bedroom 2 bath, in need of total renovation. The sad thing is that some of those agents are the power listers in the are with 100+ REO listings, if they can't handle that much and do a good job, they should be honest with their clients and let them know to find another agent who can do a better job. I believe we have a responsibility adn fiduciary duty with our clients.
A couple have given up and decided to save up till they can go conventional or the inventory levels rise so the competition decreases.