Since I've been doing BPOs(broker price opinion...kind of like a mini-appraisal on properties in financial distress) in the north San Diego County area, it has become increasingly obvious that a number of real estate agents in the area have homes with a notice of default(behind on their payments), or are attempting short sales(debt obligations are more than the sales price less the cost to sell) on their own properties. I can maybe understand if these are agents that are new in the business or haven't sold many homes, but I've seen agents who sell more homes than me finding themselves in this position.
My question is: how good is a real estate agent at advising clients about home ownership if they can't even manage their own home(s)? In fact, at my prior broker, the office manager had her home go into foreclosure, thus enabling me to label her "the real estate manager who can't manage her own real estate".
Your comments are appreciated
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