I just have to vent a little...

I'm sorry, but I really have to get this off my chest...

I don't work with buyers often but my buddy Pam, in the Reno/Sparks area, asked me to take care of one of her good clients, so of course I agreed. When they came into town, I pulled a few properties to show them. To make sure it went as smooth and easy as possible, I sorted through and eliminated properties that weren't vacant and short sales where I didn't know the agent. That left about eight properties that we could get through quickly and easily without wearing my clients out (being they are in their 70's).

So here's the issue. We got to one of the REO properties and there was no key in the e-box. OK, that happens, but when I took another look at the MLS sheet, it stated there was an e-box but in the agent to agent remarks it stated "Key is missing from the lockbox". I pulled the MLS sheet on Wednesday night and showed on Thursday. A little annoying, but OK maybe the agent found out the key was stolen/misplaced and wanted to let other agents know until it could get resolved. That happens.

My clients wanted to go back an look at it again on Friday, so I checked the MLS again and now it says no lockbox and the agent to agent remarks say "***NO KEY IN LOCKBOX***". Really?????

I looked at the MLS again today and it still says no lockbox and "***NO KEY IN LOCKBOX***"

In all honesty, it worked out GREAT for me because the first time we went to view the property and found no key in the e-box, I pulled out my keys and just happened to have a key that worked on that door.

It helped that I knew what asset management company it was. So, I was probably the only agent that was able to get into the property. We submitted an offer on Saturday and as of this morning (Monday), our offer was the only on they had...I wonder why????

So here's the issue now. If I were the asset manager, that agent would be FIRED because the first thing I would ask is "How are you marketing my asset if nobody can get in to see it!??!?!" Now this asset management company uses a notionwide property preservation company, but seriously would it be that hard to go make a copy of the key and put it in the e-box???? Or does it make more sense to leave it inaccessible over a weekend, waiting on the property pres company, after a price reduction????

The REO agent community is not as small as it was a few years ago, but other agents still lump us all together and that kind of stuff makes us ALL look bad. Take some initiative and reslove those little problems!!! Don't wait for the property pres company for something as simple as that!
I'll be totally honest. I know who the agent is and he/she is a rookie REO agent and the way it was handled shows it. That's the kind of thing that makes asset managers look for "experienced" REO agents. Don't lose an account over something stupid like that. Have answers or solutions for issues that arise. Submit bids for damage when you report it. Throw away the junk that's left at the door. Dust off the surfaces. Do the little stuff to set yourself apart from the rest!

I'm still annoyed, but I do feel a little better. Thanks for listening, put it on my bill. :)

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Comments

  • Lowell I can feel your pain in this - but hey, if the agent had time to go to MLS and insert the comment, certainly she could have made time to get a key made. I have had properties where this has happened, and it is nothing in this market to run down to Home Depot and have a key made! HEY WHY is it in MLS if you cannot acces the property? What about MLS rules! This just seems to be nothing short of lazy.

    As for you string of keys, I to keep a wad of keys I have gathered over the years and it has gotten me into many houses. I had one where I was to do the BPO, the agent insisted on being there. We get there and NO ELECTRONIC BOX - new door knob to boot. I had a key that fit, here supra box was on the kitchen counter with the old door knob in it! She was a happy camper to get here $100+ box back in one piece.
  • Okay! I will add my three cents worth. I cannot fault every listing broker or associate who does not have a key replaced johnny on the spot. I have had it happen to me more times than I care to mention here. WHAT ARE THE RESULTS? You can run a key over in the middle of your busy day, or evening, especially after having an agent call you and complain about no key in the box, or no lock box, and expect you to drop what you are doing to handle it. Yes, maybe an assistant can do it for you, if there is one you can spare, or if you have one. I ahve had lock box code changed, jammed, stolen, hammered, and so on. A lot of times it is an agent trying to slow the competition down to gain time getting her client in to see the property or to get the offer in before everyone else. One technique for dealing with this is to call all of the agents who have shown the property (or given out the LB code to their clients-- a no-no!) and freeze all action and take no offers until the key and/or lockbox is returned. This is something that some REO agents have used effectively, but it penalizes the agents trying to get in. It is something you should use sparingly.
    Other ways to deal with it are:
    Put lockbox on side of house and tell property crews and AMs where it is, but then put an ekey box on the front door. That way you know who is entering the property. You can also buy a LB with shackle lock to prevent it from being removed. Still, nothing is perfect, and if an agent is PO that you got the listing or accepted another offer instead of theirs, then you can do little about it.
    The REO manager should do regular checks on the property anyway.
    Also,how about these realtors or their clients who steal everything. Let's see?? Realtor leaves sliders open. Next day, ceiling fans are gone, or a stove. How about the windows being popped out of their frames from the inside? Once again, either a realtor or their client who has the LB code, or worse yet-- a set of keys!
    My latest peeve is the stealiong and trashing of my signs. I have been finding them in the trash on trash day, inside the property in the trash, torn up and on the side of the house (I went to corrugated plastic since it is cheaper) and on and on. Expenses pile up. Sometimes I would rather have the bvuyer since my expenses can be so high and the listing commission so low, whereas the buyer's side can be twice as much.
    Yeah! It can be tough some days! Let's all be nice to each other and walk a mile in the other guys shoes before stringing him\her up for dereliction of duty.
  • I personally think most of it is laziness, and it is not just rookie agents. I recently accepted an interior BPO, second opinion for another broker's listing. Accepted on a Tuesday, two calls to agents cell and finally got a return call Wednesday morning. She said property preservation company hadn't rekeyed yet but the would have rekeyed on Thuirsday. I went out Friday and it wasn't rekeyed. I called listing broker and told her I would not go back to the property until I heard from her it was rekeyed. I called the next Friday and she said she hadn't gone by the property to check on the rekey yet but would that afternoon and call me. No call so I called Monday, Tuesday and Wednesday mornings. Each time just got voice mail with no return call. Put a remark in the BPO company's system that the listing broker did not return calls. Three hours later the agent called saying she just checked and the property was rekeyed. During the conversation she admitted she had not been to the property since her initial occupancy check more than two weeks before. This is a broker that's been doing REO almost ten years. Meanwhile the BPO company hounded me daily. I will not accept any more interiors when I see her listed as access contact.
  • My biggest compliant is with fellow REO agents who actually state in Realtor Remarks that they do not take phone calls and will only respond to emails. I have to wonder if they will even answer their phones for their AM's?
  • Same goes for agents who do not disclose HOA Fees on MLS or only post one exterior photo of the property!
  • I can't tell you how often my ring of keys has come in handy and I look like a pro to my buyers but you are so right about "handle it". We all get stuck paying for things during a listing and sometimes a locksmith is just one of those expenses you eat. Regardless whether all your properties have property preservation companies or not you have to have a team of locksmith, contractor, yard maintenance people ready to be at a property at a moments notice. If a listing agent isn't willing to go the extra mile REO is not the business for you. If only the asset managers could see the difference. I deal with an agent here who is listing REO properties with no photos and has sold properties that show up on the MLS with 1 day on market. Do the asset managers not see this????

    The only thing I would say about your key incident is that I have put my keys in other agent's boxes and called and told them it is taken care of. I also put signs back up and call agents when I find their properties unsecured or broken into. In that respect I feel we are all part of the same profession and we ALL look bad when after a storm you drive through a neighborhood and all the signs are lying in the street or you show up at a property and the front door is wide open cause the last agent didn't check to see if it was secure. That's when FISBOs happen.
  • This happened to me just yesterday. MLS said electronic lock; instead it was a combo. It was one of those nation wide companies with an automated phone system.."press 1 for this...2 for that" left a message and no one ever called me back. Their loss, we found another home and put in an offer.
  • Pet Peeve #1 REO agents who don't answer their phone or return calls, #2 Agents who don't lock up when they leave. Weekly visit to a property today, front & back door unlocked. 2nd time in a week on 2 different properties. Not acceptable.
  • The icing on the cake...
    OK, I realize this is going on and on and on...but this is even worse than I thought. I went by the property again today to get a couple photos for my clients. I pulled out my keys and thought wait, let me check the combo box to make sure my contractors can get in. When I opened the combo box BOTH keys were in there!!!! At this point, I can't come up with any excuses to save this agent. Two keys were in the lockbox on one little key ring just like when they originally rekey and install the lockbox. That's either TOTAL inexperience or just plain LAZY!!! How annoying!
    I have to change one comment I made previously...don't "just do it"...DO IT RIGHT!!!
    Again, thanks to all those that do it right because I know there are a lot of you out there.
    Monica, I know you are a conscientious agent and it will pay-off for you. BTW, I do remember that I owe you a recommendation. Hope things are going well for you!
  • I understand your annoyance. You know what kills me is that, that Rookie REO agent gives conscientious Rookie REO agents as myself, who want to do everything just right a bad name.
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