Their listing has no MLS description and only one photo, their call back number is a toll free 800 series, their fax number is two to three counties away and in their agents' comments it states "Do not call for availability, e-mail inquiries only".

Their listing is priced $100,000 over what's selling in the area... (not a king/queen but out of the area)

This is happening with a listing that I did pre-marketing on, but they listed with somebody else. I'm laughing because I know it will never sell at the listed price.

That may not be the listing agent's fault. I've got a listing right now that is about $50K overpriced and it's not because of my recommendation. Appraisers and second-opinion BPOs can cause listings to be listed unrealistically.

I did a CMA on it too, but it came in a lot lower than what it's listed at now.

In my area, it's more like NO photo (even though we have MLS rules pertaining to this) and NO remarks in MLS whatsoever.

I really don't understand just what's wrong with being an REO King or Queen. One of my competitors sold over 600 properties in 2008. Some quick calculations would indicate about $3,500,000 in commission. I wouldn't call that an REO king, I'd classify him as a success, an major success. One could say that if a King or Queen is at one end of the spectrum, than perhaps that King or Queen would consider the other end of the spectrum to be a failure. Just how bad can an agent be if the clients keep coming back year after year?
Failure generates a thousand excuses, success requires no explanation.

Just as a point of reference, the three "agents" (actually two are broker-owners) in my primary MLS with the highest number of closed transaction sides are REO "kings". All three work with only one or two assistants and work a tremendous number of hours per week. They have earned everything they have received.

their office is over 80 miles away ! and freddie mac does not care that its not on the local mls so we can not get correct inro ??

80 miles in one direction from my office is a little over an hour drive. 20 miles in the other direction is through the center of Boston and takes 2 hours. 80 miles is not the issue. The issues are does the client know the distance? Of course they do, most major players have mapping software that lets them know spread between the agent and the subject. Is the lister selling the property? If they're performing to the clients satisfaction, that's sufficient. That's what the client hired them for. Get it sold. There's been a shift away from hiring an agent in each city to hiring a team that can handle a wide area. I had a client INSIST I take a property 120 miles away. I advised them it was out of my area, but they insisted. Over a period of time they assigned a dozen more in that city. They all sold within 5% of the BPO price. The previous agent was in that same city, but wasn't performing. There's no bright line on a map that indicates an agent becomes stupid after 30-50-100 miles. Some agents are dumb as soon as they walk out their door. It's not about distance, it's about getting the property sold, getting the job done to the clients satisfaction. Performance, performance and more performance. The clients would rather have competence at 50 miles than incompetence 1 block away. The Kings and Queens have a common denominator. They determine the clients needs, they fulfill those needs and they do it at a profit. It could be said that success in this business is measured by the number of zeros at the end of an agents income. Some folks belong as REO Kings, and some belong at Burger King.

...when the directions state, "See MLS Mapping"

I actually saw this on a listing.

Most agents in my area refer to "use mapquest" in the directions field. That's almost a necessity since the lister has no idea which direction an agent is approaching from. Also in this day of GPS, directions are almost a dinosaur. Although there are probably still agents that carry map books.

I always put "see mapsco" on my listings for directions. With GPS, MLS mapping, online maps, google on phones, GPS tracking on phones, why should a listing agent put in directions?

Back before we had mapping programs and GPS, the directions to a property in the MLS were always confusing. Then I figured out they almost always were from the direction of the LA's office.

So if it said turn left on main street, then right on Oak St, you had to figure out what direction "they" were coming from.

I've been tempted to put in the Directions field "Get in car, turn on GPS, enter destination, Go" but around here, we have too many MLS members who take themselves real too seriously and would file a complaint. Besides, the majority still use the internet only for MLS.

I always joke that this area still wants to party like it's 1999.

What do you do in a new development? In our county, the city will not take over the roadways until the development is complete and it is quite possible to not find the road on a map, or using the GPS system. What happens if MLS mapping is wrong? As agents, it would be expected for us to have all of the different mapping equipment (and I do keep a map book in my car too), but what if Joe Blow decided to go view a listing? Not every person has a GPS or cell phones with a GPS.

then put the directions in there. However, you are talking about, what, 1% of all listings in the MLS? If that many? When new neighborhoods start adding their listings to the MLS here, they're already mapped. Your original post said nothing about new neighborhoods--just that agents put "See MLS Mapping" in their directions. There are always minor exceptions to rules.

We always put turn North (or S, E,or W) off of X street onto Y street as the first direction. Then you can use left or right if you want too. This eliminates the confusion and is recommended practice in our MLS.

some folks have freddie mac wrapped around their little finger

You Know the REO King/Queen Is Way Out of Area When.....
1) They sold more properties in a distant city than any other agent in that city.
2) They've developed a "can do" reputation with lenders all over the country.
3) Their commission income looks like a third word nation's annual budget.
4) They generate jobs for dozens of staff assistants to check those distant properties.
5) They take the time to attend conferences all over the country.
6) The walls of their offices are papered with awards.
7) They were doing REOs when many were still figuring out how to spell REO.
8) They're ridiculed by those that wish they were as successful.
9) They don't much care about the ridicule since they're smiling all the way to the bank.
The short version...If you're on this forum it's probably because you either want want to learn or you want to whine. If you want knowledge why not learn from the best. If it's to whine, that's certainly your right, but most successful agents probably don't much care.

Well, I'm not a big dipper in my local pond. I get a few REOs here and there and I do my best to market them effectively. That said, I inherited an REO from a big shot out of the area broker earlier this year. I didn't realize it as I slogged through 3 feet of snow to put up the for sale signs that it had already been listed for a month. No for sale sign on the property. I had a phone call waiting for me on my cell when I got back in my car. A neighbor had been waiting for this listing. It was sold on Day 1, in 5 minutes. Only later did I discover (because the same property was concurrently showing on Realtor.com) that another agent had already listed it.

Well, upshot to the story, I had a phone call last week from the same asset manager, would I handle an REO about 100 miles away from me. I don't attempt that kind of distance. I told her to go back to Realtor #1 from my other listing, as that's his local turf.

"We don't want to use him again," was her reply.

The point being that the distant broker failed to do their job. That's not a king, that's a failure. When the Asset manager called you referred her back to the failure. Might I suggest you try this tact with an out of area listing. Offer to call other AMs you work with and get the name of a good agent in the subject area. I've located agents in east elbow bend "pick a state" for AMs. In that way I (and you) remain the go to guy when there's a AM that needs help, rather than ignore their plight. However, doing that just might get you the dubious dintinction of being a king. Note in my previous posts that I repeatedly mention performance (and the other agent failed to handle item 1 above). You were successful in fulfilling the clients needs and hopefully doing it at a profit. Keep it up and as the word spreads and the assets are assigned and you hire more staff you just might find yourself related to the realm of "Kingliness". As such you'll be forced to endure items 2 through 9 above. Item 3 is particularly heart wrenching. Might I also be so bold as to mention that it appears you're on this forum to learn rather than whine. It would also appear you're in a position to teach. And I'm not blowing smoke.

Thank you for the very good suggestion about referring the company to a good broker in the area for which they need help, and also for the compliment.

However, I don't aspire to kingliness...perhaps queenliness.;)

How presumptive of me. A wife, 2 daugnters and 4 grandaughters and I still haven't learned. Queenliness it shall be. I PMed you.

not wining at all {snip}. just can not understand why anyone would give listings to a broker that is over 80 miles away and think it gets serviced correctly ? other than the boker is in freddie macs pocket ! ps. i am a king in my service area and always get my performance done 100 %

Your play on words is totally inappropriate in this or any other forum. It wouldn't even be allowable at Burger King. I'd suggest a review of the forum rules might be in order.