The week begins with a 5 month saga nearing an end. My buyer, who has been seeing homes for almost a year with me, is seeing the light at the end of dark tunnel called Short sales.Want to know the scoop on how interesting our lives are as Realtors? Read on..

My buyers met me last year at an open house in August and came referred to me by a past client. They had very specific needs- they needed to find a house in their "budget", the house had to be compliant with Vaastu and also had to be compatible with his personal birth astrological chart.Now, I thought the invincible gal that I am, I will be able to do it. What a fool I was at the hands of my ego !! It was a challenge I could not pass and I embarked on the journey that I want to see my clients find the perfect home.

The buyer brought his priest with him on viewings and in February this year, we found 2 houses that matched their needs. Phew, I thought it was going to be over soon.Both turned out to be short sales !! One one of them the listing agent was extremely nice, polite and professional. The other one turned out to be a verbally abusive agent, totally unprofessional and a jackal. Guess which house was my buyers absolute favorite? The one with the nasty agent. This agent did not submit my offer to the bank till 3 months later and if I honestly start giving you the actual verbatim story, it will dumbfound you to the extent of her incompetence.Nevertheless, we waited for both deals to reach some conclusion, so we could move on with our lives.

The nasty agent's deal did not happen and after being in contract with me for over 4 months, she decided that my buyer would have to pay the seller "money under the table" to close the deal.All hell broke loose on my end and the net result has been an official complaint with the DRE against her.I want to see her license revoked.

The second home was going through till we got a jolt. The appraisal came in 45K lower than the offer that was approved. Lo behold, we are back to the drawing board.We even scramble our way to top management at the bank to get the price lowered, contested the appraisal but to no avail. Upper management with the second lien holder said, they want a certain net or else let it go into foreclosure. First lien holder says go to hell because we are getting paid in full.And the agents are stuck in the middle scratching their heads on how to make this deal happen...

Here is the end of the story. The listing agent and I are tired of waiting. I really want my clients to move into a house and we are both walking away with $1500 each for commissions. A sacrifice we both made for putting our client's out of their misery.I wonder if we will both get a Thank you note!

Now my question is to consumers who slam us day after day, say we make easy money, and just treat our profession with utter disrespect--- would you show homes for for a year and then walk away with money that does not even pay your gas bills ???

This disdain that we face every day in our lives, is like an splash of acid in the face.There are many agents like myself, who work tirelessly for our clients, be it sellers or buyers. When someone talks to me like with disrespect and treats me like I am just trying to push a sale to make easy money, I kid you not- I will not tolerate that nonsense at all.And I speak for my fraternity. We all work too hard and deserve respect. The consumer should have the discerning eyes to figure out who is the right sales person they want to work with and stop making generalised judgements.


 
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4 Comments on Is it too much to ask for some R.E.S.P.E.C.T??

JUL
07
192,461 Points 19 Featured Posts Localism Sponsor Outside Blog Hit Router

Rama

I feel your pain....

I have a couple who was referred to me, who also fell in love with a short sale. We wrote an offer on it back in February. In the meantime, I encouraged them to keep looking, which they sort of did, half-hearttedly, because they were waiting for approval on their first offer. Week after week, no approval because the second lien holder won't budge.

Finally, my buyers also saw the light. They learned to listen to me on how to write a strong offer. And we got an offer accepted on an REO. Is this the end of the tunnel? Uh-uh. There's more work to be done, since the bank's addendum is different from the standard CAR-RPA.

I feel your pain...I'm singing our song.

Hang in there!

3:02am • #1
329,028 Points 5 Featured Posts Outside Blog

From the other side. . .we are trying and trying to get our short sales closed as quick as possible. .sometimes it is better for you to call the listing agent and just say. .I want to help you get it closed. What can I do? We both want to get paid!

Reminds me of one listing client for a short sale. . she called almost everyday when we couldn't find a buyer because her condo fees were astronomical. . she wanted me to do open houses during the week!

I got very happy when I finally got an offer and I told her. .the same way you "bugged" me to sell your condo.. .now do the same thing with your bank. . call them and ask them what are they doing and what can we do to expedite this short sale. .she was game for it. .

We approached the bank from two angles. . 

She called them everyday

We call them every week.

We are closing this file today Tuesday at 10AM . . .only 30 days later!

Bottom line. . all parties have the same goal. . .why not join forces!

5:09am • #2

Yes, I hear that however I am starting to feel like we are climbing the ladder to some degree. Baby steps though.

6:26am • #3
Outside Blog

Fernando: I called every day, used my loan officer to connect to the upper management to get approvals, buyer even offered money to the bank to release the lein !! We did everything in our power to make it happen!

Pacita: Thanks for your comment. I am so vindicated to hear from agents like yourself who are also going through the same pain! I hope we will have better times ahead.

Jennifer: I thought the administration came out with uniform standardised procedures on short sales, whatever happened to that?? Fannie Mae guidelines also state that our commissions cannot be cut if they are 6% or below but banks find a way around that too !! Apparently these are guidelines for Fannie and Freddie short sales and other banks do not have to tow the line

9:02am • #4

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Rama Mehra Certified Pre Foreclosure Specialist

San Ramon, CA

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Keller Williams Realty

Address: 760 Camino Ramon, Ste 200, Danville, CA, 94525

Office Phone: (925) 855-8333

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