REO Pro - Real Estate Default Professionals

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If you want to read the full story, go to The Blaze.com

 

As a REOPro, I am completely astonished by these types of stories and it never ceases to amaze me at just how scary the practices of some of these smaller banks can be. Do they just hire the bank President's son's best friend's sister in-law who knows this guy who happens to be friends with a Realtor they can use? Really?

Do these banks not have policies, procedures, best practices, a platform?

Now, it's bad enough this happens and gets reported but, how many times does this happen and not get reported? How many people out there have this happen to them and then end up having to hire an attorney, with money they likely don't have, to fight an injustice that should have never happened in the first place?

It's not like the markets are flooded by well trained, in most cases, highly experienced Realtors who would fight at the chance to win the listing assignment from one of their local banks. Personally, I would have no problem working the assignment from monthly drive by inspections, property address verification, occupancy checks...etc.... if I knew I was getting the listing.

Well, this is a perfect example as to why we need to start making agents the AMC. You see, most of these small banks won't hire a big ole AMC to outsource their assignments because, it's just too expensive for them but, if they had a local agent, that would do all the work for the commission, they may think twice.

To learn about how REOPro wants to make the Realtor the AMC, read my discussion forum titled, REOPro Makes the Agent the AMC.

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Comment by CECILIA D FOX on July 29, 2013 at 10:54am

I've been chomping at the bit to find somewhere to comment. 

Their contractors need to LOOK at the addresses and have a county sketch or previous photo of the property. This was just stupid. The owner said the addresses are clearly marked. GPS doesn't take to you to a specific house! It is always off a little bit, so you have to know exactly what you are looking for! I do this all the time when doing BPOs.

This also just goes to show that these banks need to be sure their contractors are honest and take photos of every single item they are taking - even the children's clothes! If she said it was taken, it was taken. I don't think that $18000 is too much to ask no matter what is missing - even if she's making up the 2 expensive motors taken from outside of the house.

I was a bit confused that the owner said that their beds were left. That either meant the contractors did a bad job or they were going back and hadn't yet. And being gone for 2 weeks without securing the motors in the yard (from what I understand) doesn't make sense to me.

Despite that, I saw the video of her in what appeared to be a hallway which had some boxes leaning up against a wall and a stick chair. It seems they took more than the children's clothing and dresser which is what the owner cited in all of the other news stories I heard and read.

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