Help! Listing Agent is not submitting offers

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Real Estate Agent with Prudential California Realty

I suspect that the listing agent of a REO property is not submitting offers to the bank in hopes of double ending the deal. I have no proof however, I have submitted various offers 3 times on this property over the past month and have never gotten a counter offer. The listing agent and his assistant just say they haven't heard from the bank yet. During this 30 days the price dropped significantly. We submitted an offer only a few thousand off the list price and still nothing. I had a friend call to pretend to be a buyer and the LA said the proprty was available and the bank was very negotiable.

I actually tried calling the bank directly but that was a dead end. In fact, one bank representative actually said that it sounded like the only way my buyers would be able to get the property is if they decided to drop me and submit an offer through the LA!

Any ideas?

 

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Rainmaker
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Aida Pinto
United Associated Brokers - Downey, CA
Real Estate Broker (562) 916-3237

Hi shari---yes in the past that has happend to me--and it's not fun--that's why I want to list them!  good luck!

Jun 30, 2008 12:27 AM #1
Rainer
8,395
Bill Mitchell
Marc Joseph Realty & ForeclosureToursRUs.com - Fort Myers, FL

Same thing happening down here in the SW Florida areas. I have several tours that I showcase ALL foreclosures not just my listings and I can't believe that this goes on. Greed is what got us in to this current situation and some Realtors seem to not want to let it go even though they might have 20 - 50 listings and getting paid on most for doing nothing. Good luck and by the way...Carma will catch up with them soon. The old saying goes..... Pigs get fat....Hogs get slaughtered.

Jun 30, 2008 05:41 AM #2
Rainmaker
24,637
Shari Posey
Prudential California Realty - Long Beach, CA

I'd really love one of the heavy REO listing agents to give me some advice if there is any way to get around this agent and get an offer to the bank.

Yes, I know what goes around, comes around but that doesn't help my buyers who want the house. The buyers have been very understanding of my efforts to get them this house and follow up with this agent on almost a daily basis and getting nothing but different stories. But, it won't be long before they just go to him directly because of my lack of solving the situation.

Jun 30, 2008 09:55 AM #3
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Rainmaker
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Shari Posey

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