REO/Bank owned Listing Agents....What's the Deal?

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Real Estate Agent with Realty Direct, LLC/Realty Direct, Inc. 0225079749 VA

Okay...I was with a client, showing homes..I came across this home that was Bank Owned...I called the agent for the combo box code...he tells me "We arn't showing the home today, it is digusting, there are flies, and it is a health hazard inside"  I said..."We are standing outside...looking in the window, and my clients are willing to take responsibility for going in"  The guy still refused to let us in...he said  "I am pulling it off the market right now..."  I call my broker and said "Hey, can he do that"  My broker made a phone call...and I was in..

 The house was fine...it was better than fine, located in an upscale, Golf Course Community.  I called the agent back and said "My clients like it they want to write on it"  He says.... "You can't write a contract without submitting the bank disclosures"  I said.. "Cool, where can I get them"  He said  "i'll have to send them to you, but I can't until tomorrow"   Two days, and several phone calls later...the guy tells me that it is okay to submit the offer, WITHOUT the bank addendums.... So, it's Friday morning at this point, I submit the offer by 3:00 p.m.  Monday I email the guy and ask him when we can expect an answer.... he says...He is submitting our offer WITH another offer that MYSTERIOUSLY came in on  Sunday... (Mind you, this home owas only on the market for one day, the day I tried to show it, and this agent pulled if off the market the second I tried to show it)  So my question is....What's up??.....since then I have run into other agents who are listing bank owned propeties, and I have not had a good experience with them as well......Is there something I need to know here......what the heck is going on...????

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525,169
Konnie McCarthy
Associate Broker - VA & MD
Realty Direct, LLC/Realty Direct, Inc.
That is the first thing my broker asked his broker....my client is not very happy, he did end up buying another home...but he really wanted that one....so if this guy did do something unethical, my client is determined to do something about it.......but is certainly was an eye opener
August 24, 2007 10:32 AM
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Renée Burrows
Las Vegas Real Estate Broker - www.urLVhome.com
Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate

Pocket listing perhaps?  He wants to bring the buyer?

We have so many hard to show, hoops to jump through listings.  I have one buyer, this week, willing to write an offer on a short sale "subject to interior inspection" but call agent xyz for details first.  Yea right, do you think after 5 days I am getting any response?

Can people be responsible and take these listings that aren't sellable OFF THE MARKET and KEEP THEM OFF?

Thanks for letting me rant! 

August 24, 2007 10:52 AM
Anonymous #11
Anonymous
Sean Guerrero
Thank you for leaving a response. As of late I have been referring my listing contacts out. We are in a buyers market, the advertising expense is outragous! Obviously this guy was trying to double side it. Is that legal were you are? There are so many unscrupulous agents in our industry.
August 25, 2007 11:28 AM
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Konnie McCarthy
Associate Broker - VA & MD
Realty Direct, LLC/Realty Direct, Inc.
You know I hate to be so suspicious..but from the get, this guy seemed like he had an agenda...He told me that there were (and this is NO joke) GREEN flies in the house.....it was a health hazard......  When we went in......well...I didn't see on TEET -SEE fly anwhere....so, I don't know if it is illegal..but it sure seemed unethical....I
August 25, 2007 01:06 PM
Rainer
22,834
Sue Pirrone
Pirrones Graphic Designs

this does sound a little suspicous, I have had this happen to a friend of mine...agent kept the deal for himself

February 18, 2009 07:37 AM
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Konnie McCarthy

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