It never ceases to amaze me at how REO Assets are distributed( in our area ) to agents who lie,are lazy and unscrupulous in their co broke dealings with other agents. These agents continue to recieve most of the business since it is easier for overwhelmed Asset Managers to select the same agents,over and over again-even if they have 3 0r 4 from the area to select from. Fannie Mae and Freddie tend to use National Companies,and do not adhere to their"practice" of selecting minorities. The"Top REO" Agents have no conscience. Their offices almost always get the bid on REO Properties,even if there are 10 offers that go in. Most always We are never told there are multiple offers until you call the REO Listing Agent ( the assistant is normally who talks to you since the actual agent can stay out of office) and are told simply "Yeah- We had 3 offers on that property- you got outbidded" DUH! I wish the system would correct itself, but have no faith that it will. Putting on lock boxes,putting the REO in the MLS is a joke. These REO Agents thanks to the Asset Companies creating "Top Agents" ..have only instilled ion them "The God Syndrome". Everything can be decided by them,and they are in controll of the REO Universe.
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