Some of our Asset Management companies that offer us REOs for sale, don't compensate us for evictions!! Their rational when we hinted on getting compensated was that "you are getting paid for the listing and the eviction is part of this".
Evictions take a huge emotional toll on my team and it was a hard sell to begin with let alone when the agents have to do it one their OWN dime and OWN time! Several times, we have hired translators to help with occupants, only to have to compensate them from our own pocket! We have stopped this practice since we discovered that we can NOT bill these services to our clients.
Now comes the new wrinkle where some of these evictions are heading to California Superior Court!. And we must appear in court and offer testimonty in support of lender's eviction attempt. This is a huge time sink, since most court hearings get postponed at least several times. To add insult to injury some of these properties might NOT convert to REO listings either. One of these contested evictions ended up being sold at Trustee Sale after we had spent weeks negotiating a Cash-For-Keys agreement.
Granted our success is based on building relationships with our Asset Managers, but when it appears that the other party doesn't appreciate our time and service, the relationship tends becomes abusive. We already invest a lot of time and energy in nurturing these relationships, but something doesn't feel right with these kind of practices since it sends the signal that our services are worthless to these clients.
How far are you willing to go to appease an Asset Manager!? Where would you draw the line!?
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