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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.