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Dumb Real Estate Non-Professional Of the Week...

This is classic:

At 7:30am this morning, I get a frantic phone call from an agent that I worked with on a transaction about a year ago. I never pursued a referral relationship with him because I felt like he was pushing our mutual client into making a quick decision and wasn't really trying to understand their goals. Upon confronting him about this, he emphatically stated that "Clients are craving to be told what to do, and I'm helping them to be decisive."

Well, whether you buy that line of bull or not, he wasn't my cup of tea. So anyway, back to this morning. He said that he knew that I could close a deal quickly and that time was critical. "Why is time so critical?" I asked.

Here comes the "lunacy"... The agent said, "Well, he is going to be unemployed in 3 weeks but his boss said that he would verify his employment as a favor."

And I would want this loan on my warehouse line? I didn't even bother explaining to him why he is a complete idiot, waste of a real estate license, loser--I hung up the phone.

There are some great agents and LO's out there...but not many.

Posted by Rich Sweum on 11/19/2008 12:22 AM

Comments (19)

Post is included in group: All About Mortgages/Mortgage Networking
Post is included in group: Mortgages
Post is included in group: Puget Sound - WA Real Estate

19 Comments on Dumb Real Estate Non-Professional Of the Week...

NOV

2008

hmmm.. And people wonder why there are so many foreclosures nowadays? It is because of people buying houses when they are about to lose their jobs and real estate non-professionals like this who do whatever it takes just to get that commission.

Michelle

Rich: It really sounds like this guy is well on his way to a quick trip to prison for mortgage fraud. I would get as far away from this clown as quickly as possible. I might even discuss it with your manager... as far as reporting this guy. You would not want this conversation between the two of you to ever come back and bite you.

Thank you for turning him down. Now if we only had more mortgage professionals like you!

You should have taken the clients info and given them the professional advice that what was being proposed by their realtor was unethical/illegal. This may have prevented the client from being placed in that situation elsewhere by the same Realtor, (assuming the client didnt already know the full implication of their actions). Not to mention that you might earn that clients business should they regain employment elsewhere or their situation improve in the future.

LOL there are more than you think. Agents that have this kind of mentality is why we are in some of this mess. You did the right thing!

wow - I can't believe this agent would put his client in that position??? My gosh --- what if he ended up in foreclosure? That Realtor won't be around long (hopefully) and good for you for hanging up on him!

Wow that is crazy! Why would you ever want to give someone a loan who was going to lose their job? That makes no sense, unless you are only out to make a buck.

Unbelievable! Good for you on the hang-up and I would get rid of the agents info asap! Doesn't sound like the first time (or last time) they will do something like that.

Rich, Good decision on your part, but I do think he's the exception, rather than the rule when it comes to being a good agent.

Amazing

Smart move in not even arguing and just dropping him. He probably doesn't even think there's anything really wrong with what he's doing.

It's guys like this that make people rank us up there in the same class as used car selesmen.

LOL. I couldn't help but laugh at this. This has to be a joke. How insane!!!

Rich, as a lo and a realtor, I've talked to some jerks out there too. Even if you were to take the loan knowing that information, wouldn't that be against loan officer rules and ethics. It may be considered bank fraud. The realtor would be in the clear but the lo could be in trouble if it could be proved that you knew that info before hand.

I do think that some clients look for people who will ENCOURAGE them and SHOW THEM THE WAY. Your story seems all about self. Not taking charge for the client, but taking charge of the client for self. HUGE DIFFERENCE. I hate people like that.

Yes...he WAS asking me to commit fraud, and in doing so, was committing fraud himself. I did make a call to the agent's broker, and contacting the MLS as well, and the Dept. of Licensing.

Thanks, Rich. What is the saying? If it walks like a duck.... Good for you for walking away. I believe there are a number of great agents out there. I'm hopeful after our wild ride that will be all that's left!

Rich, thanks for standing tall! This is an example of one of the many issues that got our country into this credit crisis. Part of the recovery is making certain that our industry is full with people who standup and do the right thing.

NOV

2008

Stellar really....Ilove people who give such a great name to our profession.

DEC

2008

Hi Rick

Were do we go first ethics? Mortgage fraud? Misrepresentation? I would look for this unprofessional name to hit your states list of suspended or revoked licenses.

Good luck and success

Lou Ludwig

JAN

Very interesting. I wonder if he found someone to do the loan for him. My bet is that he called everyone that he knows.

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