REOPro - Real Estate Default Professionals

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Shady, Unethical, Ignorant Real Estate Agents

I am so tired of having to deal with incompetent realtors, unfortunately, this will never go away.

My favorite thing is when I represent a buyer and send an offer over to the listing agent and then get this response:

"Well, that is unacceptable, ridiculous offer. The property is listed for $199,000 and your buyers are offering $180K??? That's 20% below asking price, this isn't going to work"

WOW - Didn't know you were the seller Mrs. Listing Agent. Didn't know you graduated #1 in Math either Einstein as that is only 10% below asking price. Why don't you present the contract to the person who actually owns the property, and let's see what they have to say instead of your huge ego getting in the way?

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Comment by Robin S. Reed on July 1, 2009 at 6:36pm
The poor math skills notwithstanding, in most states we as licensed realtors are obligated to present ALL offers. Even if the seller says don't bring me offers less than X, a prudent agent would still present it so it didn't come back to bite them later. Even banks change their mind about what they will accepts. With homes staying on the market longer and staff changes in their REO depts. It's entirely possible that the person that originally said to only present offers of X or above is not even there any longer and the new person was told..."just get it sold". This has happened to me on more than one occasion in the last year.
Comment by Joshua Jarvis on June 30, 2009 at 7:37am
um, if it's a short sale and I tell you the bank has told me what they will take and we have multiple offers, then I'm giving you a professional courtesy of tell you your offer is a joke.

Not sure why someone would think a 90% offer was a bad one though. If you're in 10% within what I know the bank says they will take, I think that's a great offer.
Comment by Terri on June 30, 2009 at 4:14am
What about the one that asks for a Roof Cert and when you provide it with some minor repairs done, they say that this is not good enough as we both (agents) should of agreed upon the roof company. He said it was not accpetable and would advise his buyers about this. What is up with that. He never stipulated this in his request for repairs.
Comment by Cindy Billman, CDPE, SFR, HAFA on June 29, 2009 at 3:28pm
Or what about having an agent submit a full price "as is" contract and then come back with two pages of repairs that the buyer wants done or reduce the sales price by $15k! Hello-o-o-! LOL!
Comment by Nick Ondatje on June 29, 2009 at 3:12pm
I personally love agents like that because they set such a blaring example of how not to conduct business ;-)
Comment by Michael Thompson on June 29, 2009 at 1:01pm
There's an old saying

"If you stand by the rivers bank long enough, eventually you'll watch your enemies float by"
Comment by Noel Cash on June 29, 2009 at 12:54pm
In this housing market getting an offer is the start of a "ballgame". An agent that is skilled in negotiating wouldn't have treated you or your offer like that and would have been glad to have the opportunity to negotiate the offer to the highest price/ best offer for the seller. Don't let the turkeys get you down :)
Comment by Carlos H. Silva Sr. on June 29, 2009 at 12:34pm
The good news is that asset managers are starting to catch on to it and are looking to make much needed changes. This would be good things to post on my "Do You Have Suggestions Or Advice For REO Asset Managers?" discussion.
Comment by John Gordon on June 29, 2009 at 12:25pm
That would be too funny, if it were not true so frequently!
Comment by Beth Ross on June 29, 2009 at 8:48am
Isn't it scary? All I can say is, the rest of us just need to do the best we can, take care of our clients, and have a Math for Dummies book ready for everyone else. LOL

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