I have had the utilities turned on this property for a few weeks now, and I haven't heard anything further on the listing, and they haven't sent the exlusive back yet.

I called the assistant asset manager and she just said they are behind and when they get to it they will fax/e-mail the exclusive right to sell to me.

I talked to a couple people at our title company, who were both realtors in the past, and they said that I can call and start marketing the property in advance, and then if there is an offer I can get them to push through the exclusive.

Is this possible?

I suppose if you have a client that would be interested in this house, you could give them the heads up, you might even announce it at as office meeting as an "upcoming listing", but you can't advertise a property without the signed listing agreement.

I've had a property in prelist since October with Citi (AMC) - they are so far behind and values are dropping like a rock.

You need to take care of the property but you'd be crazy to do advertising anyway, allowed or not. Why spend the money on advertising when its not even yours yet?

This property is with Citi.

I got it through FAS

Yep, figured it was Citi! Prepare to babysit it and WAIT....patience is a virtue, after all! LOL

But why are they behind? I also have a re-assignment with Citi coming up. I did the 2nd bpo, was promised the listing, submitted the master agreement. It's been two weeks since I did all that stuff.

Mine has been just over 2 weeks since I submitted everything.

She just said it would be wrong for her to give me a date as to when to expect it.

I tried sucking out more information but it just isn't possible.

They are behind because they are going through a massive restructuring, are facing litigation, have about 9 bazillion assets to deal with, and don't have the money to pay for the amount of employees needed to deal with the workload the average AM is carrying these days.

Waiting a few weeks for a listing agreement is really not all that long of a wait. I have several that have been in pre-list for 4-6 months for various reasons.

Secret, my aunts best friend is the real agent 99

Oh, well I guess I've defrauded everyone then.

I know, I know. BUT how much time does it take to throw out a list price? Everything else was DONE back beginning of October.

Meanwhile, they have lost $15,000 SO FAR due to market decreases and it is dropping as we "speak". Craziness.

The am's all work on deadlines.Think of it this way and you will get it more.The am's are overworked and underpaid and they get a salary plus bonuses.The have sometimes hundreds of file sont here desks to deal with.They get paid a bonus based on how many they get off there desk so most of the time they are trying to just breathe and get counters or acceptances out on offers.The new listing is not that much of a priority unless the supervisor tells them they are behind.It's not like these am's are making the same kinds of checks the agents are on each listing.If that were the case everyone would want to be an Asset Manager!

Right now alot of loan originators have lost there jobs but have been rehired as servicers and am's.With all the defaults and payouts to investors from defaulted loans servicing costs for companies are now running 30 percent higher eating into there profit margin.

I did the BPO, they told me the status in the computer said an appraisal and another BPO was being ordered.

They got the info they need, so why can they just sign the paper and write in a price and fax it back??

What is that, like 5 minutes of work?

Seriously, do you think you're like the only agent & that's the only asset your AM is dealing with at the momement? Multiply that "5 minutes of work" by about 350 files, which is the average case load carried by an AM today.

Sometimes more than 2 BPOs are needed. Sometimes a 2nd appraisal is needed. Sometimes inspections are needed. Sometimes there are title problems. Sometimes issues are found with the f/c process. Stuff happens.

Again, waiting a couple of weeks for a listing agreement is really not all than uncommon. Of course, they could have just decided to reassign it to another agent and not have mentioned it to you.

Is this the first time you've had to wait for more than a couple of weeks for someone to get a listing agreement back to you? My newest listing was a 4+ weeks from the time they told me that it was "ready to list" until they actually got the paperwork sent back to me. That's not including the months that it was in pre-list. This is not uncommon, so you might as well get used to it.