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#226691 - 05/14/08 10:17 PM REO pet peeves
northtxbroker Offline
Major Contributor

Registered: 05/17/07
Posts: 1858
Loc: Texas
Everyone has REO pet peeves and I think a majority of mine got hit today. The best ones today:

1) Removal of my sign by the buyer's agent. I HATE THIS. Stop taking my bloody signs and hiding them somewhere on the property. I don't enjoy the 10-minute search it takes to find the d*mn things and it's not your sign to begin with!

2) Lockbox stolen from the property after it transferred agents. Listen, I know it was the bank's lockbox and not yours. Why do you think you can remove it? I've had 3 listings transferred from one agent and that agent stole all 3 lockboxes. I confirmed with the bank that the lockbox was not the agent's as well. So, I get to waste my listing time getting the blasted thing rekeyed. Thank you.

3) Buyers not showing up at appointments. What a waste of time. Especially when I'm already pissed because I had to find a sign and lost a lockbox.

4) Agents not reading the instructions in the MLS. How many different ways can you say "Offers will not be submitted without proof of funds or a pre-qual letter"? I don't care if you are a broker and have supposedly closed on everything in the last 30 years. Send me proof of funds!

5) Blind bidding. Just thinking about it makes me want to $@#&ing curse.

So, I feel much better now. Anybody else have some good ones?

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#226693 - 05/14/08 10:23 PM Re: REO pet peeves [Re: northtxbroker]
OHAgent Offline
Major Contributor

Registered: 02/08/05
Posts: 2783
Loc: Ohio
Agents that call and ask how old the furnace is and then when you tell tham that you have no idea how old any of the mechanicals are ask you how old the roof is. smile

Agents that submit offers 50-60% of list and then call all the time to find out if I've "heard anything" yet.

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#226694 - 05/14/08 10:30 PM Re: REO pet peeves [Re: OHAgent]
zephyr Offline
Major Contributor

Registered: 08/10/05
Posts: 1662
Loc: Missouri
Agents who submit offers with a 4 hour acceptance deadline on REo property. When that offer expires, after you have informed them that banks often take days to consider offers, they submit another with a 6 hour deadline.

Agents who buy investment properties themselves, or have family investing in them. Then, when they get a listing on one they want, they bring in their BPO VERY low, so when I get assigned a second opinion and it comes in higher, the AM calls and grills me about my values (did they grill their listing agent? Probably not). especially when the listing agent tells the AM that I don't have any experience and have no idea how to do a BPO. So let's see, they list closer to my value, agent doesn't advertise property AT ALL, and it still sells for closer to my figure than the listing agent's??? Market it properly and it would have been really close. but the AM still lists with that agent. go figure...
_________________________
REO Broker since 2004

"And think not you can guide the course of Love, for Love, if it finds you worthy, will guide your course" K.Gibran

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#226695 - 05/14/08 10:31 PM Re: REO pet peeves [Re: OHAgent]
northtxbroker Offline
Major Contributor

Registered: 05/17/07
Posts: 1858
Loc: Texas
I get the age one, too, but just not today. Thank God. I might have crucified that agent....

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#226696 - 05/14/08 10:33 PM Re: REO pet peeves [Re: northtxbroker]
ColoBroker Offline
Major Contributor

Registered: 11/03/07
Posts: 2335
Loc: Northern Colorado
having to get bids for a stupid broken window I coulda just taken to a glass shop and been done with it.
_________________________


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#226698 - 05/14/08 10:40 PM Re: REO pet peeves [Re: ColoBroker]
markmandude Offline
Member

Registered: 01/10/08
Posts: 130
Loc: co
Being asked by every agent how much the other offers are when I get multiple offers on properties. You know I can't tell you, and I won't.

I had 7 offers on two properties today. What a day! arg. tired.


Edited by markmandude (05/14/08 10:40 PM)

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#226702 - 05/14/08 10:46 PM Re: REO pet peeves [Re: markmandude]
Cool guy Offline
Major Contributor

Registered: 06/30/04
Posts: 2043
Loc: California
When the signs get stolen. I never had this happen to my signs before I jumped into the reo's but it pisses me off. One frame was stolen and found the panel like 2 miles away from the house. The other sign the panel was completely destroy while the frame was gone. This is just in the past week. :\

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#226703 - 05/14/08 10:49 PM Re: REO pet peeves [Re: Cool guy]
UpNorthGal Offline
Veteran Member

Registered: 01/06/08
Posts: 664
Loc: MN
^^Signs and lock boxs/keys stolen is definitely my number 1!!

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#226705 - 05/14/08 10:58 PM Re: REO pet peeves [Re: Cool guy]
NH-REO Offline
Member

Registered: 07/17/07
Posts: 229
Loc: The Great State of NH
One thing that's been really pushing my buttons lately...... I've had three properties in the last two weeks where "someone" has put the wrong keys back in the lock box! One was a whole freaking ring of keys! They must of realized that they only took one key out of the darn box and how difficult it must have been to put a whole freaking ring of keys in the box! Or when you have a huge price reduction and the keys miraculously disappear from the lock box the next day. I have to say, nothing pisses me off more than having to drive out into the middle of nowhere to replace a key when I know that someone took the key intentionally to prevent others from looking at the property.


Edited by NH-REO (05/14/08 10:59 PM)

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#226708 - 05/14/08 11:06 PM Re: REO pet peeves [Re: UpNorthGal]
savvycyn Offline
Veteran Member

Registered: 07/12/07
Posts: 707
Loc: California, USA
Agents calling asking for the combo code. I say it's in the mls. Well I don't see it, I say look again...Oooh there it is. Stop wasting my time!!

Due to certain culture in my area agents call me a lot and ask about deaths in the property. I don't know?? Call the coroner's office or something.

Agent's leaving the doors unlocked, wide open or not clearing the lockbox code!! Had a neighbor of a listing call me last week saying a door was wide open and she thought it was weird. Thank goodness no one did any damage.

There are many more but I will stop there for now...

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#226716 - 05/14/08 11:28 PM Re: REO pet peeves [Re: savvycyn]
GetsmSold Offline
Junior Member

Registered: 06/01/07
Posts: 5
Loc: So.Cal
Buyers agents "Mis-placing the keys" in the hopes that their offer will get accepted before I have time to go place a replacement key to let all the other agents in. -- Same agent has done this twice, The supra Lock box monitors who accessed the lock box last and it been him on the two occasions.

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#226723 - 05/14/08 11:54 PM Re: REO pet peeves [Re: GetsmSold]
OHAgent Offline
Major Contributor

Registered: 02/08/05
Posts: 2783
Loc: Ohio
Wow. The agents in some of your markets must be really cut throat. I have never had an agent take my key out of the lockbox. I had an appraiser lock the key in the house a couple weeks ago, but never an agent just take it.

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#226746 - 05/15/08 05:44 AM Re: REO pet peeves [Re: OHAgent]
KT Offline
Major Contributor

Registered: 01/18/05
Posts: 1524
Loc: Ohio
~Whatever the heck is growing outside of my newest pre-list that has sent me into some weirdo, crazy, never-ending, coughing fit for the last two days. And which is why, our two kitties, Xena & Cleo, and I are still awake at 6:30 AM. Husband, and the Golden Retriever, Buddy can apparently sleep though anything.

~Agents that do not/cannot follow showing instructions.

~Agents that do not return calls for a LB code when a listing is pulled from them & re-assigned (gee, could it be cuz it was never in the MLS?)

~AMs that request an updated BPO after the house has been listed 30 days.

~AMs that take 3 weeks to get MLS/State docs back to me so a house can get listed. Then listing gets re-assigned to an new AM, and new AM requests an updated BPO, cuz she has no clue what's really going on, and doesn't know house been in the MLS only 7 days.


~Not being able to Roshambo -Southpark Style- (I go first) all the people that have pis**ed me off since returning from Key West last Friday.

Sorry for the rant, and somewhat long post everyone. Been a rough week back so far. Going to end it a very positive note, however. Some very kind agents have just about renewed my faith in the RE Gods.

When doing the BPO for the new pre-list, had some probs. Standard REO POS, but in a totally sought after area. I was struggling to find solds in the same condtion in the area. And, let's be honest, here, not every agent uploads multiple pics, or really describes an REO's condition on the MLS, (both of mine have really limited character allowance) some things aren't even found til after the HI.

So today, I started calling some listing agents. I was simply amazed that the 4 agents I spoke with, actually took the time to give me the nitty-gritty on their properties.

One of the solds was from way back in December, even. Of the 4 agents, I only know 1 of them personally. The others, we've never had any contact at all, not even showing each other's listings, that I can recall. Just thought that was pretty cool that they were willing to show a little love in this crappy market.

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#226765 - 05/15/08 08:14 AM Re: REO pet peeves [Re: KT]
beansie53 Offline
Member

Registered: 04/10/08
Posts: 258
Loc: Michigan
When the selling agent can not follow simple instructions for how to properly fill out and return the buyer signed contract/addendums. There are generally 4 things I need:

Addendums
Purchase Agreement
EMD made payable to listing broker
Pre approval/proof of funds

90% of the time I get the package and it is missing something, or the agent changes the addendums somehow. Then I have the AM yelling at me wondering where the contract package is and I have to explain that the selling agent is an idiot and can't follow directions. Selling agents also seem to have a hard time with the EMD made payable to listing broker thing. I love it when I call the selling agent and tell them they forgot to include the EMD and they tell me that it has already been deposited into their brokerage escrow account....so now we have to have it taken out of their escrow and re issued to my escrow, that drives me nuts.
_________________________
REO/BPO's are my game, Jack is my name.
5th Generation Broker
Est. 1922

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#226768 - 05/15/08 08:31 AM Re: REO pet peeves [Re: beansie53]
jbt4re Offline
Major Contributor

Registered: 03/04/07
Posts: 1801
Loc: SWI
Preservation companies that don't get the work done in a timely manner. I had one recently that didn't do the trash out until a week or so after I listed it. The preservation company was scheduled by the AM. I know the listing was way out in the back of beyond and a tad challenging to find, but I did put a directional sign at the corner with the address on it to make it easier to find and my sign is still there.

They sent it through FAS for preservation, nice girls but they undercut everyone else on price and don't do a great job. I had another in pre-list that they were suppose to put in "showing clean". They didn't even vacuum the carpet or sweep the floors. I know 5400 s.f. three levels is a lot to do, but please, they are being paid to get it into basic showing condition and remove any hazards.

There's my gripe!
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