I'm sorry to all the newcomers to real estate out there...but I just have to do this....

We put instructions to show in the remarks and in the INSTRUCTIONS TO SHOW part for your information. Don't call me when you cannot show for some reason (homeowner not home, you can't find the lockbox combo) and want MY help to read the MLS listing! Sheesh!

A short sale is exactly what it says it is. We are attempting to sell the house for less than is owed to the bank. PERIOD! Don't call me and ask me what a short sale is.


I keep editing my vent so I am going to stop there I suppose...

I really like real estate, really like being a real estate broker in this business but I have had the STUPIDEST phone calls since I started in shorts and REO's.

Now I know why so many of the brokers were short with me when I first started showing and selling REO's.

Yeah I know how you feel.The amount of phone calls you get make you want to beat your head into a wall in frustration.

Since my commercial real estate has taken off so much I am doing less and less of listing short sales.I still work my own personal deals for buying.Listing them is a pain because even if you do everything right and the valuations make sense the bank-investor can say NO and it doesn't even have to make sense.

I have had 10 to 20 year agent snot even know what a short sale is.I guess it's easy to understand why as before the market was appreciating so there were very little short sales.Banks would usually rather foreclose in an upmarket knowing in a few months or longer when it sold REO they would get more by waiting.Now the opposite is happening with a depreciating to flat market and short sales are on every corner.

Thye are basically ingnorant of whats going on now. Sometimes you have to speak to people using vocabulary they can understand.

Just tell them that the house was designed for people under 5 feet tall and ask them how tall their buyers are.

That should at least give you some entertainment for the dumb questions.

Mike

C'mon metro, if it was a regular resale you would grit your teeth at the questions and move on. Same for reo, you are getting a commission that you "negotiated" with the seller. If you took a limited service listing thats one thing but you agreed to the fees and more than likely a full service listing at discounted commission.

I got one today that went under contract and a buyers agent who showed without checking the mls, called to tell me she wanted to write an offer. I explained that had she called the office and scheduled the showing they would have told her about the offer. She said she was working of an old mls sheet, that had friday afternoons price reduction! Now she gets to tell her buyer that she didn't do her homework. All this in the middle of a playoff game.

If the questions are that rudimentary I refer them to their broker. Let him/her deal with the training of their own agents. Brokers need to know who doesn't get it.

Geez, mabe your right, now i am on a rant!

OMG I thought I was the only one dealing with these bullshit calls. If I had a nickel for everytime I had an idiot call me for the lockox code and ask if its a pre-foreclosure I'd be a millionaire. It's on the damn listing in CAPS!!! I know just how you feel....
My business parnter said he's going to start messing with them and get them reall confused... I think I might do that, any suggestions on how to screw with them?

I stopped using the term REO on my listings and replaced it with Bank Owned, sometimes Bank Repo. It takes the guesswork out of it for some of 'em, but not all.

Well, to be honest I wouldn't have the contracts I have if it wasn't for those poor buyer's agents schleeping out there in the cold all weekend while I sat at home watching the game, playing on the forum and doing BPO's. At least I was making some money today, their efforts may not make them any money.

I called my partner after my post to vent to him as well. He's been getting the calls too, but the reality is we got 2 contracts after that conversation on one of our REO's. Yippee!

So Crash you are right, I need to grit my teeth, at least I'm on this side of the phone AND it's ringing. And no Huzaifa, I've calmed down from my rant and have realized if it wasn't for them showing my listings I couldn't accept the contracts. I'm tempted...but that would just get me a reputation as difficult and I do want them to continue to show my listings. Even though I am in a HUGE metro area, RE is a small, small world and I respect that.

Boy do I feel better! (Doing the happy dance)

I think I need to start calming down too. The thing is even though a million of these agents show the listings, I get like 2 contracts and lets just say if the bank was willing to take that offer I WOULD BUY IT!!! Oh wait thats not all, they call me everyweek to see if the bank has accepted there extremely low ball offer. I've had wayyyy more luck finding buyers on my own. Most of the contracts I have right now are through me finding buyers. I just need to calm down I guess, I got one decent contract this week from an EXPERIENCED agent that knew what she was doing and not just a tour guide...