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#265706 - 12/21/08 04:25 PM Re: Your thoughts when your property gets reassigned [Re: Margaritaville]
zephyr Offline
Major Contributor

Registered: 08/10/05
Posts: 1662
Loc: Missouri
I used to take it personally. Now I take a few minutes to evaluate whether I did everything I could to market the property right or if I failed to meet the client's requirements (lost a few due to not getting MMRs done on time while I was in and out of the hospital)... Sometimes I have to admit I could have done a better job and try harder to do better on the next one.
I try, is I am getting some other agent's property, to contact them and let 'em know, offer to pick up their signs and lockboxes for them, and ask if they have anyone interested (if they do, I call them FIRST when I get the listing, to give them a chance to sell it right away). yeah, i have had a few where I close on them less than 1 month after getting them- sometimes there were price reductions, sometimes not. Sometimes, it's just pure dumb luck and the right buyer drives bu as I am putting up the sign, wants to take a look, and there ya go!
_________________________
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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#265736 - 12/21/08 07:15 PM Re: Your thoughts when your property gets reassigned [Re: zephyr]
CALIF DREAMING Online   content
Veteran Member

Registered: 08/01/06
Posts: 1123
Loc: Downey, California
The reassignments normally happen due to failure to complete the MMR's on time. It does not matter that you have no new comps since the last report. One of the AM companies require these even if the asset is closing escrow in the next day or two.....for real.....go figure.
_________________________
"People rarely succeed unless they have fun in what they are doing"....Dale Carnegie

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#265808 - 12/22/08 12:28 PM Re: Your thoughts when your property gets reassigned [Re: CALIF DREAMING]
eldoradosrealestate.com Offline
Veteran Member

Registered: 10/22/05
Posts: 939
Loc: Placerville Ca
I've had a couple reassigned that are still on the market for well over a year. That makes me feel good. Luckily most of my companies price them to sell pretty quickly or within a reasonable amount of time. I have also received reassignments. It's just the way it goes.
_________________________
Margaret Holland
Holland Realty
Broker

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#265817 - 12/22/08 01:18 PM Re: Your thoughts when your property gets reassigned [Re: eldoradosrealestate.com]
Margaritaville Offline
Member

Registered: 04/24/06
Posts: 435
Loc: Illinois
I had one that really ticked me off. It wasn't really reassigned, it went to auction - but in my book that's about the same.

My BPO came in around $60,000. They listed it at $99,900. I did weekly reports instead of monthly and a new BPO every month, just trying to get them to realize it was way too high.

There were maybe 3 showings on this property in the 3 months I had it - the one buyer I talked into looking at it walked in and laughed and said 'You've got to be f-ing kidding me, I can't believe you even brought me in this piece of crap!'

They did eventually drop the price to $65,000 - something I can possibly work with! Then within a few days they terminated the listing. I was beyond mad. They finally sold the darn thing for about $40,000 on auction. If they would have listened to me from the beginning, they could have had at least $15,000 more.
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If there was a better way to go then it would find me
I can't help it, the road just rolls out behind me


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