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Agent Fraud Watch out

By
Real Estate Agent with 24/7 Realty Inc.

As today goes I get a call from an asset manager to do a 2nd Op BPO.  When I ask for the listing agents contact info I scratch my head.  I go to the mls to pull the listing and low and behold there is no listing, I look the agent up by name assuming that I made a mistake on the address so I'll just look up the agents listings.  No agent by that name registered.  So I call the asset manager who informs me that the agent is pushing a sale.  When I advise that the property is not even on the mls her radar goes off.  I go to the property it is not secured so I enter even though people are milling around with the pit bulls etc.  I get to the second floor and am confronted by someone on something I do not know what.  That was enough called my detective buddy who cleared the place out.  BAD AGENTS give us all a bad name.  This guy made 3 mistakes

1) Never lie about whether or not you belong to the local board/mls, sooner or later it will come out.

2) Secure the asset or its your A--! 

3)Know your business, if he knew his job he would have been aware that a 2nd Op is needed when a bid is far below the comps.

To that agent, thanks for your listing!  Instead of $75.00 it will be $8075.00!

In my opinion every broker or agent who lies to a client about status should be reported to the local board/mls.  In my opinion the prior bad act should hold up membership for some period of time.

Nicole Kraus
Signature Realty Associates - Dover, FL
I cannot agree more...bad agents and people who are in this business to only profit from the misery of others sicken me.  Glad you will be able to profit off of the lies of such unscrupulous people and to make things right. 
Oct 15, 2007 02:04 PM
Lanre-"THE REAL ESTATE FARMER" Folayan
Samson Properties - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

I am sorry but please tell me what is a 2np OP BPO? But you are absolutely right,bad agents like that give us bad names. Great post.

Oct 15, 2007 02:05 PM
Jeffrey Dolfinger
24/7 Realty Inc. - Poughkeepsie, NY
NRBA Member
Sorry typo 2nd Opinion BPO. 
Oct 15, 2007 02:08 PM
Brandon Causey
Coastal Palmetto Realty LLC - Loris, SC
Realtor, Coastal Palmetto Realty LLC
I found some really shady agents in the REO market.....I wonder why that is?
Oct 15, 2007 02:27 PM
Cris Burlew
Beach & Luxury Realty, Inc. - Saint Pete Beach, FL
Broker ~ St Pete Beach FL Real Estate

Does that "agent" even have a license in the state? Remember, if they are not licensed, they can be turned in for the unlawful practice of real estate.

I'm surprised the Asset Manager for the REO company didn't double check on any of this. They usually want your license number and broker's information as well. I've had to supply it for one of my agents.

I've not had to supply it to a servicing company, as their end client is also my direct client on other properties.

Congratulations on getting the job done and obtaining the listing.

Oct 15, 2007 03:34 PM
Anonymous
Anonymous
Yes he is licensed, I checked with the State for the asset manager. But you can not obtain the best and highest price without a property being listed where the majority of buyer are looking.
Oct 16, 2007 12:28 AM
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