Warning - What Goes Around Comes Around - REO Brokers and Agents
I have said this for a long time now. This market wasn't going to stay the same and the Agents that were ignored or treated like sh*t would be once again on the top of their game. Agents that thought they were better than thou would once again be in the mainstream...and have to realize that the next cycle would be a long way off. Time to actually work now, time to acutally have to have some Real Estate Skills and Ethics. Yes, what goes around comes around!
WHAT GOES AROUND CAN ABSOLUTELY COME AROUND
The reason something receives the label of "CYCLE" is because it has a beginning and an end (and occurs over and over again throughout time). We are passing through a well documented real estate down cycle which has created great opportunity for many of the large REO Listing Brokerages and Agents. Given that opportunity comes greater responsibility. Many would argue that the REO listing community has taken on Monopolistic qualities. Monopolies tend to exibit the following:
1) FEWER PLAYERS = LOWER COMPETITION
2) LOWER COMPETITION = LOWER CUSTOMER SERVICE
3) LOWER CUSTOMER SERVICE = BACKLASH FROM THE COMMUNITY YOU SERVE
I want to keep this blog short, sweet and to the point. The Cycle that has lent to an obvious decrease in customer service given by large REO listing brokerages/agents will come to an end. These same Brokers and Agents will find themselves melding back into a normalized market place where they will be submitting offers to agents that did not receive real great treatment "during the tough times".
I want to pose a question:
If a listing agent receives MULITPLE LIKE-KIND OFFERS on a future listing and one just happens to be from one of those REO listing agents (who is now finding himself/herself back in the mainstream), which offer do you think will be recommended to the seller-client (again, considering that the offers are equal)? I know, I know...obviously we have to present all offers, but which offer do you think will get that extra little nudge in recommendation (given all things are equal)?
Just a little food for thought as that old saying "what goes around, comes around" seems to raise it's so familiar head.
Give me your thoughts!
David Robinson - Associate Broker - SCA Real Estate
27710 Jefferson Ave # 102 Temecula, CA 92591
(951) 237-5999 - Cell (951) 667-1190 - Office (951) 346-9393 - Fax
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