There is an REO property I am interested in and I work with a realtor on all my investment properties.
But this one property she was not able to get a return call from the listing agent to even get showing instructions. Calls, emails, text messages to the agents and the broker remain unanswered, for an entire week. We decided it was probably already under contract and they didn't bother to get back to us.
Just out of curiosity I decided to call, and the voice recording was "Home owners press 1, agents press 2". I pressed 1 and was immediately routed to a human who gave me the listing agents numbers. I then called both and they returned my call and set up an appointment to see it. I haven't seen it yet. I then called back and pressed 2, and got to a machine and left a message and no one called me back for over 48 hours.
Is this weird?
Should I proceed to work on this one with the listing agent or should I still get my agent in?
Tags:
Wayne. This is a great answer. I don't work in REO's much but I do know that a lot of the REO brokers are too busy to get back to you...I like this answer
OK I went to see the property, ALONE. I mean by myself with no one else. That's because the listing agent called me back and said "Oh I am real busy today and won't be in that area, but the property is vacant and the lock box code is 1234, so go ahead and take a look if you are interested to pursue further, let me know."
I looked at it and thought it has potential.
So I have not met the listing agent, have not yet told my own agent (I have no contract with her, she is just the one I have worked with and have developed some level of comfort, and in FL she is not really a "buyer" agent but acting as a transaction agent). I am thinking of asking her to go with me and get her opinion and if I decide to make an offer then I will submit it through her.
So far, I haven't done anything that would cause the listing agent to claim any representation right?
THEN DON'T BECOME A REO AGENT!!!! REO AGENTS SHOULD BE INVESTIGATED IF THEIR DOUBLE DIPPING PERCENTAGE IS SUSPICIOUS.
Yeah Smitty, I went to REO Expo thinking maybe I'd do some REO's. After listening to 2 or 3 of those Asset Managers talk about the "opportunities" with them, what they expected, and the truth from some current REO brokers, my response was "shove your REO listings, I don't want them". And all these REO brokers talk about trying to double-end the deal, to come out.
I do some REO, not alot, probably will close 40 to 50 this year and can say that they are a tremendous amount of work and I often ask myself if it is worth it.... With that being said, it is NO excuse for the listing agent to not return calls or to ignore the other agents. My concern when I started with REO listings is that it would affect my reputation and I strive to not let that happen. When the REO business dries up, and it will, those will all of their eggs in the REO basket who never return calls or respond will also dry up and be out of business
Jeff, can you pAAALEEEASEE move to New England? LOL...It'll be a sharp contrast from where you are at now! ;)
It snows there Smitty :) But with that being said, there is a strong possibility that you will see something from me in your area soon..... stay tuned
LOL....you have NO idea. There is something to be said living in the warmth of the sun all year long, but we do have a cool fall, great skiing, and you can freeze your &&%$^ off trying to snow blow 4 ft of snow off your driveway..C'mon, who wouldn't want a piece of that? ..he he.
I'm tuned. Look me up. You can't google up short sales in my area without seeing me everywhere.
I despise these types of agents.. 'I have too many listings to care about any of them'
Me too! Unethical is unethical in ANY business.
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.