Anyone else,Frustrated with forclosures.

By
Real Estate Agent with Ruhl & Ruhl Realtors

I wish there was an easier way with the forclosed properties. A clients sees a sign with a name and phone number. They call me their agent about this house. I call the number. This was the basic response. Well I can not tell you anything yet about the property. I do not have all of the "paperwork" in my hands yet. Blah, Blah, Blah. I asked several more questions, when do you feel that you will know, when would I be able to show the house, etc. They could not answer one question. These folks want to sell these properties but they do not seem to be able to do so. I wonder if other agent are as flustered as I am?

If I put a sign in front of a property, I better have all of my "paperwork" done! I would be in trouble if I did not. But the "government" so to speak can put up a sign when ever they want to.

Comments (5)

Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Our company lists REOs.  Today we got one.  No we don't have the price yet.  And no we don't have the locks changed. And no it's not in the MLS and NO we did not put up a sign.  It's crazy to put up a sign before it's ready to go in the MLS and show and you have a price.  Other companies in this area do that same stuff and it's insane. 

Mar 23, 2009 08:11 AM
Deanna Casalino
Remax Realty Group - Estero, FL
Fort Myers Florida Homes,

Hopefully it will get better with time when some of this inventory dries up. Today they have a positive outlook on Wall St. anyhow

Mar 23, 2009 08:12 AM
Teresa Keller
Ruhl & Ruhl Realtors - Davenport, IA
ABR

Thanks to you both for your responses. I would like to clarify that this is not a real estate sign this is a for sale by owner. You call the number and you get a recorded message first from a national bank. Then push this number for this etc. Then you get to the person who's name appears on the for sale by owner and she does not have any info on the property. After I posted, she called back to me and said there had been an offer. I said you just told me I could not take anyone through the house. I know as realtors we would not get by with what some of these companies are doing. They must have different rules and regulations.

Mar 23, 2009 09:04 AM
Michael Martell
RE/MAX, Intergity Realtors - Peoria, AZ

I like how you get ....MAYBE 1 photo of the property and a reduced commission. I guess the people listing the REO's don't care if they get sold and know eventually someone will buy them. How about if you list an REO...you list a few photos as well? Go ahead...show us the missing cabinets and toilets...show us the concrete floors and holes in the wall. If we all work together, we can save one another's time. I mean it is not like we are going to sell the home if our client is looking for move in ready.

Mar 23, 2009 09:56 AM
Teresa Keller
Ruhl & Ruhl Realtors - Davenport, IA
ABR

Michael, you are correct. We all know that some of these properties are not in the best condition. Some folks get very angry when they have to leave and stuff happens. My problem is there are so many properties sitting out there for sale and REO, banks, who ever do not seem to have a good handle on what it takes to get them sold. The one I was talking about above, the lady on the phone say, I have not seen the property, I will never see the property. I just want to get it sold. I believe that there has to be a better way. I do not have the answer to the better way, but there are alot of good properties that sit vacant for way to long and then they become worse than they were in the beginning. I've had some buyer that get so frustrated by the process they just walk away.

Mar 23, 2009 11:28 PM

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