BPO Overload: Why Are Inept Agents Carrying All These REO's?

Real Estate Agent with Buyers' Choice Realty

Very true words, it's extremely frustrating to see fellow agents doing such a poor job! Our number one responsibility should be to "Truly" help our clients with their problems and concerns, not trying to garner as many Listings as you possible can in order to over-market yourself. Focusing on people comes first, everything else will work itself out. Meaning, if you truly tend to your clients needs( on a personal level ) your financial compensation will become a by-product!!

Original content by Mirela Monte


Certain Agents in my market area have established strong connections with Banks and they are getting the bulk of REO business. 


Their listings are not marketed or serviced properly and many of them are not even selling.  They are just sitting on the market without utilities and proper care and they are rapidly deteriorating and just adding to the glut of available housing.


When they do sell, they are reduced so drastically that they are creating even more of a problem in our market. 


Some of these agents who carry all these BPO's are so limited on staff, that several days go by without a single returned phone call or response to an offer. 


One of the banks awarded me a listing that one of these REO agents had.  He had the listing for several months and did not even have a working key in the lockbox, so the property did not get a single showing during the entire listing term.  I've only had the listing for a few weeks and it's been shown 8 times and I am working on garnering an offer on it already.  


Why do banks give their business to obviously inept agents? Are there special favors or arrangements between banks and these agents, or are they just comfortable doing business with the same entities and don't really care about the results? 


How are REO's allocated in your market?  Are you noticing a similar situation?  What can we do about it?


Mirela Monte, Your Myrtle Beach Connection

Posted by

Thomas Cunningham

Thomas Cunningham

Cell: 843-814-1078

Fax: 866-256-4074

Email: homesbythomas@gmail.com

Website: Buyers' Choice Realty



Comments (2)

Ron Bridges
ERA Wilder Realty, Inc. - Sumter, SC

I agree.  I've had several on the market and would like to get more but I don't get very many calls.  I've heard other agents say it is only an REO and they handle it like that left over thing at a yard sale.  I have a particular bank that calls me but I am not sure how the others are getting theirs.  I guess the only thing to do about it is to do the best job for the bank and they will reward you with more REOs. 

Feb 16, 2009 06:19 AM
Cindy Hartpence
Edisto Real Estate Company - Edisto Beach, SC

It is very frustrating here also. We have homes that are listed with folks who know nothing about the area or the house. They are sitting much longer than necessary and many of the agents live more than an hour away and do not take care of the homes. I don't know why the banks just don't call 411 and ask for an agent in the area and get someone who truly knows the area and loves it!

Thanks and have a great day!


Feb 20, 2009 08:24 AM