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#282652 - 03/21/09 11:03 PM Re: REO pet peeves [Re: Alan From Florida]
northtxbroker Offline
Major Contributor

Registered: 05/17/07
Posts: 1858
Loc: Texas
Here's one that might hit close to home. When an agent complains about the "unethical" behavior, "ridiculous" demands, and "unfair" QC from 5 or more different companies on these forums, maybe that agent needs to look at themselves as the problem since they are the only common denominator.

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#282717 - 03/22/09 05:21 PM Re: REO pet peeves [Re: northtxbroker]
OkieDokie Offline
Member

Registered: 06/09/07
Posts: 15
Loc: Oklahoma
My usual rant starts after the 10th call I get from agents asking about the condition of the house. Ummmm, it's priced 20% below market, still hasn't sold, listing clearly states "AS-IS". Why don't you go look at it and see what you think? I've even tried putting "will not qualify for FHA in it's current condition" in the comments, but that just invites more calls from agents who want to argue about that for some reason. Hey, it's your time and your buyer's appraisal money. Don't say I didn't warn you.

Also - and this is not REO, just my pet peeve - buyers who want to spend (and qualified from the bank) say, $1500 per month.
Buyer: we want to spend and are approved for $1500 per month
Me: How much have you been paying for rent the last year or two?
Buyer: $1000
Me: So how much money have you saved during that time for closing costs & down payment?
Buyer: $0

These are the same people who will call me 18 months from now and need to sell, but have no equity, and of course no money to bring to closing to pay my fee to sell their property.

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#282719 - 03/22/09 05:28 PM Re: REO pet peeves [Re: OkieDokie]
OkieDokie Offline
Member

Registered: 06/09/07
Posts: 15
Loc: Oklahoma
Yes, that was my very first post smile I lurk here from time to time...but this thread is too inviting not to put in my 2 cents.

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#282736 - 03/22/09 08:21 PM Re: REO pet peeves [Re: OkieDokie]
skatakia Offline
Member

Registered: 03/16/09
Posts: 114
Loc: land of cheaper and cheaper bp...
that sounded more like a nickel.... it is frustrating to get those phone calls however you have to see it from the other end, when I list my REO properties on the mls my remarks are all very generic.. AS-IS addendums must accompany.... nothing about the condition in specific because there have been law suits for misrepresentation of the condition of a certain propety....

So when someone looks at a listing with generic REO comments i cant blame someone for wanting to know whether their buyers are going to need to bring a paint brush or a buldozer after closing. A 2 minute conversation can save another realtor and his buyers some time.

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#282754 - 03/22/09 10:47 PM Re: REO pet peeves [Re: skatakia]
OkieDokie Offline
Member

Registered: 06/09/07
Posts: 15
Loc: Oklahoma
You're right, skatakia, I wouldn't want any lawsuits, so I probably shouldn't make assumptions about the condition or financing. I suppose it just depends on the appraiser anyway. wink

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#286618 - 04/18/09 12:01 PM Re: REO pet peeves [Re: OkieDokie]
northtxbroker Offline
Major Contributor

Registered: 05/17/07
Posts: 1858
Loc: Texas
Well, I just had a first for me. A buyer decided they wanted to cancel their contract outside of the inspection period and wanted their earnest money back. AM declined to give it back to them. Buyer is upset, tells me how horrible I am, and generally whines and complains. Normal stuff, right? Well, here's the kicker. This buyer, whom I've never met, seen, or talked to, then accuses me of age discrimination, says I'm taking advantage of an elderly woman, and decides to start complaining to anybody who will listen at Fannie Mae. So, if you ever wonder why the REO listing agent you are working with might be a little cranky, there you go. crazy

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#286624 - 04/18/09 12:50 PM Re: REO pet peeves [Re: northtxbroker]
Leggo my Ego Offline
Veteran Member

Registered: 02/08/09
Posts: 514
Loc: Phoenix, AZ
Ugh
_________________________
REO Liquidation Specialist/REALTOR(R) since 2006
5 Years Lending experience Prior to Real Estate
Champion of Common Sense and Reason smile
Official Thread Searcher for Members who don't feel like searching for answers to their questions- I am at your service smile

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#286647 - 04/18/09 02:18 PM Re: REO pet peeves [Re: Leggo my Ego]
Don Price (Pine) Offline
REO-BPO-R.E. Mod
Major Contributor

Registered: 03/12/08
Posts: 3272
Loc: Pinehurst, NC
A complaint always looks bad, legit or not. eek
_________________________
Donald Price (Don)
Pinehurst, NC 'America's Home of Golf"

Pinehurst Real Estate | REO-BPO-Brokers.com | Blog | Join active|rain | Twitter | Facebook


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#286650 - 04/18/09 02:32 PM Re: REO pet peeves [Re: Don Price (Pine)]
northtxbroker Offline
Major Contributor

Registered: 05/17/07
Posts: 1858
Loc: Texas
I notified my AM what the buyer was going to do and they were not upset with me so no bad marks there. They understood that people sometimes do stupid things. It's still frustrating, though.

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#286653 - 04/18/09 03:05 PM Re: REO pet peeves [Re: northtxbroker]
LizL Offline
Major Contributor

Registered: 08/27/05
Posts: 1620
Loc: Missouri
NTB--The agent for the buyer needs to be told to get his/her client under control. Buyer had no right to contact you directly.

I know that it happens all the time--but I am as unresponsive as I can force myself to be when someone else's client phones me directly. I usually tell them that I am not their representative and, therefore, cannot answer their questions or comment on their concerns. Of course, when they start accusing me of something, they can sometimes draw a response from me. It's only normal to defend oneself; but the less said, the better. Of course, that is most assuredly not the case as soon as I get their agent and/or the agent's broker on the phone! I do not mince words when I tell them to reign in their client (not that it works all the time).
_________________________
REALTORŪ, Broker/Salesperson, GRI, ABR
REO listing/selling since 2004; BPOs

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#286654 - 04/18/09 03:11 PM Re: REO pet peeves [Re: LizL]
Leggo my Ego Offline
Veteran Member

Registered: 02/08/09
Posts: 514
Loc: Phoenix, AZ
Originally Posted By: lizl
NTB--The agent for the buyer needs to be told to get his/her client under control. Buyer had no right to contact you directly.

Absolutley right. I've had buyers call me and told me their agent gave them my number. How unethical is that?!?!? Amazing they dont understand the Law of Agency.
_________________________
REO Liquidation Specialist/REALTOR(R) since 2006
5 Years Lending experience Prior to Real Estate
Champion of Common Sense and Reason smile
Official Thread Searcher for Members who don't feel like searching for answers to their questions- I am at your service smile

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#286657 - 04/18/09 03:27 PM Re: REO pet peeves [Re: Leggo my Ego]
LizL Offline
Major Contributor

Registered: 08/27/05
Posts: 1620
Loc: Missouri
I had a series of particularly nasty conversations with a caller who keep claiming I had said things (made promises) that I had not said. Finally, I figured out what was going on when she blurted out, "We were standing in the front yard, and then we went around to the back to find the septic tank!" That's when I realized that she had me mixed up with the selling agent. She had copied my phone number off of the yard sign.

I tried to explain to her that I was not the person who showed her the property and asked her to describe me. Of course, she could not, but she was still angry with me for what the other agent had said. The truth had no meaning to her at all. BTW, I am old enough to be the other agent's mother.
_________________________
REALTORŪ, Broker/Salesperson, GRI, ABR
REO listing/selling since 2004; BPOs

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#286661 - 04/18/09 03:58 PM Re: REO pet peeves [Re: northtxbroker]
reo - ed Offline
Member

Registered: 09/10/08
Posts: 102
Loc: vero beach florida reo capital...
stupid is what stupid does !!! aka forrest gump !!

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#286667 - 04/18/09 04:48 PM Re: REO pet peeves [Re: Leggo my Ego]
northtxbroker Offline
Major Contributor

Registered: 05/17/07
Posts: 1858
Loc: Texas
Originally Posted By: The Keene Team
Originally Posted By: lizl
NTB--The agent for the buyer needs to be told to get his/her client under control. Buyer had no right to contact you directly.

Absolutley right. I've had buyers call me and told me their agent gave them my number. How unethical is that?!?!? Amazing they dont understand the Law of Agency.

That doesn't bother me as much. Principals can contact either agent because they aren't bound by any laws of agency or something similar. The buyer's agent did need to get their client under control because they had apparently made promises to the buyer, weren't keeping up with their work, and generally made a huge mess of things. What I ultimately found out was that the buyer's agent hadn't terminated the contract when their client had told them to (had waited over a week to do so). Even when that was pointed out to the buyer, the buyer still felt it was my problem and my fault. I couldn't help but think this agent had to be a family friend to the buyer. That's the only reason I could think of that would have the buyer still blame me when their agent had so obviously screwed them over.

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#286675 - 04/18/09 06:50 PM Re: REO pet peeves [Re: northtxbroker]
LizL Offline
Major Contributor

Registered: 08/27/05
Posts: 1620
Loc: Missouri
Originally Posted By: northtxbroker

That doesn't bother me as much. Principals can contact either agent because they aren't bound by any laws of agency or something similar...
Regardless, I do not want to answer questions--and thus increase my own liability--for someone else's client.
_________________________
REALTORŪ, Broker/Salesperson, GRI, ABR
REO listing/selling since 2004; BPOs

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