An eye for an eye only ends up making the whole world blind.

By
Real Estate Broker/Owner with Homestretch Properties

I was reminded of this quotation by Mohandas Gandi after discovering by accident that a Buyer's Agent who had submitted an offer for one of our REO Listings had wasted no time to trash our business practices on her Facebook blog!!  Her exact quote was " Writing an offer on REO property on sellers terms.  Listing agent provided 3 pages instructions on bold print: NO LOW BALL OFFERS accepted, please do not ask for credit, inspections, disclosures, please do not call.....Frankly, I can't wait for this REO era to be over"!

Well, my natural inclination was to trash her in our blogs!  But then we would have a village full of idiot realtors who are all blind!  This however, caused me to go back and review the 3 FULL page instructions we do provide to help some agents who have never written an offer on REOs.    

This section doesn't say anything about asking for credit, inspections, disclosures.  In fact, it's illegal to advise clients against inspections.   In the section of 3 page document about Highest & Best Offer, we state, "Please, No Low-Ball Offers since it's a waste of everyone's time

So, you will be the judge if these are accurate representation of our intent to educate and facilitate the process of liquidating properties for our clients and help buyers agent become more effective.  "Please, No Low-Ball Offers since it's a waste of everyone's time" is NOT the same as "NO LOW BALL OFFERS accepted". There is a huge difference here since not accepting offers is illegal and we are bound to submit ALL the offers to our sellers.  But discourging low-ball offers is completely different.  

This is perhaps why Realtors have a similar reputation of attorneys and politicians.  Because some of us, see a piece of information and spin it to gain an advantage.  It shows desperation and complete disregard for the ultimate cost which will be born by ALL realtors.  The fact that she's trying to use Social Media to build her business is understandable, but to mis-quote and mis-inform her audience is simply sleazy.

So, instead of exposing her sleazy tactics, I went to her facebook page and dropped a polite and private note that perhaps she should be careful not trash the other principals in her ACTIVE transactions.  I mean, what sort of idiot you have to be to risk your active transaction by trashing the other principals!?

What would you do if someone mis-used and abused your published information and you were in a transaction with her.  I would like to hear from you.

Comments (6)

"The Lovely Wife" (Broker Bryantnulls Wife) The One And Only TLW.
President-Tutas Towne Realty, Inc. - Kissimmee, FL

David...

In writing this aren't you basically doing what she did? :)

TLW...ROAR!

Mar 04, 2010 10:06 AM
Leila Mortaz
Homestretch Properties - Los Gatos, CA
Leila Mortaz

But I am not fabricating or mis-quoting her!  Besides, she started it!  And I am NOT killing her deal either. I submitted her offer and got her accepted.  

Mar 04, 2010 10:13 AM
Emcee M. Arah
Remax Excellence - Silver Spring, MD - Silver Spring, MD
Realtor w/Architectural Dimension, AHWD CRS B-Arch

I personally believe in the old adage "If you can't say something nice, keep your mouth closed."  It just saves everyone so much aggravation and wasted time.  Instead, do the best job you absolutely can and let your legacy be in proving wrong anything negative said/written about you through your high quality service and excellent communication skills!

Emcee

Mar 04, 2010 11:05 AM
Julie A. Black
KAUAI DREAMS REALTY Kauai Real Property Specialist - Kapaa, HI
CLHMS, CRS, GRI, Realtor, Broker

REO properties are a different animal. I have some buyer's agents who are very flexible and willing to learn to make the deal happen. I had some Realtors say "I'm not going to let my buyer sign this addendum" I tell those Realtors then don't count on your buyer's offer being accepted. it's hard but there's no room for trash talk.

Mar 05, 2010 04:29 AM
Keith Sellers
Sellers Real Estate - Kalamazoo, MI
Greater Kalamazoo and Lakeshore

I'm also in REO, and have had the sue threats, disgruntled offerors, etc.  We respond only to what really needs to be responded to, the rest just gets buried under kindness.

Mar 06, 2010 01:16 AM
Leila Mortaz
Homestretch Properties - Los Gatos, CA
Leila Mortaz

Keith, I agree with your suggestion that respond to "what really needs to be responded to"!  I had a buyer agent submitted an addendum that their buyer's lender wants an addendum signed by our seller since he was giving up his commission to his buyer.  I emailed him back since it was 100% of his commission and I wanted to make sure it was not a typo.

He assured me that this is exactly what needs to be done.  Confident, I submitted to our Asset Manager for signature; only to discover 10 minutes later an email from him that he don't want that addendum signed and he will do this outside escrow.

Good thing I didn't respond to cancel the addendum signature request; since 15 minutes later we were hit with ANOTHER email; this time that they indeed NEED an addendum; but this time they want a smaller figure that they can get it past their underwriter!

Needless to say, I told him that we are NOT entertaining any more action items on that topic and he's on his own.

Mar 06, 2010 08:59 AM