Welcome to another episode of REALLY??!?! with your host, Christianne Gordon.
This week's story comes to us from the sunny foothills of Reno, Nevada. Let's tune in....
I was working with buyers who found me on ActiveRain via my blog last week. We went out Saturday and saw 6 properties. They dialed in on 2 and we went back out Sunday morning at 9am to see them again.
They selected one, and wrote one hell of an offer! Great earnest money deposit, 20% down, very well-qualified, fast closing...you get the idea.
I call the listing agent and inform him that I have an offer and ask how would he prefer I send it to him. He says email. (Do you hear the UH-OH echoing in the room?)
I email it over at 12:30pm. It never bounces. It's Mother's Day and I go out to dinner with my husband and my two boys. First thing in the morning today, I call to confirm the listing agent's receipt of the offer. He doesn't answer his phone...I leave a message.
Later, I receive a text message that says he says he never got it and submitted the other offer he received without mine. REALLY??!? I ask him how this happened because my offer was sent over at 1pm the previous day. Why didn't he call me to ask me where it was?
His reply is key..."Listen, I have a lot of REO properties and I simply cannot be expected to remember who is submitting offers and who is not. I just can't keep track of all my conversations."
REALLY??!?! - At this point, I proceed to send it again via e-fax to his email via my assistant since I'm out showing property (and yes, I'm flipping out because my clients REALLY want this house). He calls me back - no receipt. She sends it again, he calls her and says not here. Finally, we fax again (the 4th attempt) and at this point, he calls back and says he has it.
Did I mention this agent uses the same line for his phone and fax...so he never answers his phone. He always lets it roll to fax and then he calls you back...if he wants/needs to.
I decided to take matters into my own hands and call the broker. I really found it completely unacceptable that he moved forward without our offer knowing it was coming, not to mention how he responded to me. That was not in the best interest of his client, regardless of whether the technical fault laid with me for not calling to confirm yesterday afternoon or because I sent it via email.
Finally, via the broker, I found out that our offer was submitted, it is the highest and best, and we should have an answer tomorrow. (I was surprised that the broker divulged that information to me.)
The bottom line is - if you are going to be a listing agent, regardless of the type of client you represent, you should follow 3 rules:
- Answer your phone!
- Make notes to remind yourself when an offer is being submitted (so you can track it down if it is waylaid)
- Communicate with the buyer's agent...
As an REO agent myself, I know I do these things. I actually had an agent call me up this morning and tease me saying "Christianne, if you're going to be an REO agent, you really have to stop answering your phone!"
I think that's really sad. If only banks knew - or cared...REALLY!
Posted By: Christianne Gordon - Northern Nevada Real Estate Agent - Realtor
with RE/MAX Realty Affiliates, specializing in Carson Valley Real Estate and Northern Nevada Real Estate.
Christianne- I love the color of your buttons on the bottom of your post, clean lines too.
I always let the buyer agents know that I get their emails. It is very easy to send reply. I don't like the offers to come over the fax because too many generations by the time it goes to the short sale lender. We don't do REO's.
But I also let all the buyers agents know that I do not work on weekends. I do not answer my phone after 5 p.m. Our time between 9 a.m. and 5 p.m. is super instensive, getting shorts done and negotiated. After all, the banks are not open on the weekends either. All our sellers know that we have biz hours too.
Letting people know what your schedule is makes all the difference. I had a buyers agent this weekend email me on Sat. I reminded her to call me on Mon. SHe says, in her email back to me, I answer my phone 24/7- I could not help myself, being a coach after all, so I emailed her back that she could not possibly answer her phone 24/7. Not humanly possible, so it is really a lie, an untruth.
We like to underpromise and overdeliver. Katerina
Katarina-You could always call her at 2:00am... Seriously though, you are 100 percent right about setting expectations. I tell my clients what my hours are, and my phone is on from 6:00am (east coast asset managers) to 10:00pm. The agent in question does not offer hours, an alternative number or contact in case of emergency. Regardless, if I am expecting an offer, I watch for it or make a note to check next time I am in the office. I also have a back-up contact with an alternative phone number if I am unavailable.
Christianne - I like the concept for "REALLY?" and I am certain that you will have ample material for this every single week. :) I agree wholeheartedly with your rules!
Christianne - I hate it when I call another realtor and they never call back at all. I have to call and leave another message and it's about a deal we're working on.
Great post. Some agents should Not be in this business.
Alice and Jim - I totally agree! :-)
Love the REALLY?? It says alot about some of the agents. We were out two weeks ago on some listings that didn't specify they were short sales, no agent picks up, submit the offer and find out it is under contract. What a colossal waste of everyone's time.
Here is a Really... What usually happens is a highest and best offer when multiple offers come to the Asset managers attention, so I would bet Really the AM did not know of your offer because also it was a Sunday. AM's don't have to work weekends.
Kim - I hear ya...Yet again, communication...How do these agents score these clients is my wonder? My clients actually said to me during the signing "Are you sure you're a Realtor?" They had received such poor service in the past they just couldn't believe how accessible I was, how willing I was to answer questions, and how committed I was to helping them accomplish their objectives. THAT was sad...
I like you work ethics calling people back is common courtesy keep up the hard work and you will succeed.
Mary - I would wholoeheartedly agree the Asset Manager didn't know about it. I know they don't have to work weekends. My beef was with the agent. He knew an offer was coming. He knew a STRONG offer was coming. He ignored it and moved forward with the other offer - to the potential detriment of his client.
Right now ours is highest and best. I am expecting a counter and we're ready to respond. We just wanted the opportunity to "attend the dance". By the way, did I mention there was only a combo lock box on the door (no REQUIRED Supra iBox) and that the showing desk was NOT answering the phones to show the house? The agent wasn't answering either. It started to become a comedy of errors where you have to ask: Do you REALLY want to sell this house?
Great post! I am running into this same issue more and more too.
Everyone is on a schedule. We are all busy. Communicating each other's schedule is important. Great post
Christianne--Can we clone you?! No seriously, we need more REO agents like you. Most of the REO agents I have dealt with either don't return calls or respond to emails. Some of the REO agents you will NEVER talk to. They have assistants that deal with everything. I had decided that I didn't want to become an REO agent because of the unprofessionalism of most of the REO agents. Thanks for being so professional!
Evening Christianne, Terrific post. It still boils down to effective and timely communication doesn't it ? Well done.
Christianne, sounds like a very lazy listing agent to me. Glad you were firm and called the Broker.
Communication is everything that we do both verbal and nonverbal. Smile
Bill - No matter how you slice it, it's all about communication. I feel like if you can't communicate, what justifies all the listings you have?
Lisa - I am out to change the perception of REO agents in the market, one deal at a time...
Gary - Thanks for reinforcing your opinion that I made the right decision. If my clients get the house, after they close and they have the keys, maybe I'll tell them just how much I had to go to bat for them.
Even with all this madness today, I love what I do! I love the challenge and am glad I at least got the offer submitted before the bank countered the other offer.
And REO agent that doesn't communicate? REALLY??!?! Say it ain't so.
So many reo agents act that way. Too busy to even answer to say they recieved the offer.
["Listen, I have a lot of REO properties and I simply cannot be expected to remember who is submitting offers and who is not. I just can't keep track of all my conversations."]
That type of agent will be on the way out as more competent and efficient REO brokers enter the scene in response to that type of bad behavior, and dry up their business. (thinking positive)
I use ReadNotify whenever I send an offer or critical correspondence www.ReadNotify.com
Amnesia becomes less likely when I can prove when they opened it and for how long . . .
Candice
Candice - Thanks for the tip on ReadNotify.com - I am going to check that out now!
This is so frustrating!! I wonder if sometimes they conveniently don't receive our offers. AMazing!
Kristin - That was the main reason I called the broker. After faxing it three times and hearing "I don't have it" - I started getting suspicious!
Hope you get it. I have been in those situations before. The agent doesn;t feel like they have to call you back!
Love the Really!! And you have a really good website, too!
I just closed an REO transaction - the listing agent was great, the asset manager worked on Saturdays, it was a Really!! good transaction, hope yours finishes well.
Great post! It takes all kinds. Sometimes I wonder about some agents, but they seem to always slid by.
Hi Christianne -- Sad state of affairs eh? Great job you did and I hope your buyer gets it! Your buyer is very lucky to have a very competent agent.
Virginia - Thanks for the website compliment. As you demonstrate, there are asset managers that work weekends. One of mine does. They can be JUST as good as traditional transactions if everyone simply communicates the same way they would for a traditional transaction. I haven't figured out why agents think they are exempt from communication just because the property is an REO...
I have been having these same problems myself. Finally the REO agent responded today on a question I have about a closing coming up in 3 days and he sent me info. by email of a different property! UGH!!! I agree- answer the phone once in awhile!!!!
Great post, Christianne!
And for those of you who don't work after five or weekends, well, that's fine, as long as that's REAL. I can tell my buyers "we won't hear from them until Monday, so take the weekend off." BUT for an agent to not follow up with agents who say, "you'll have my offer in two hours" and not get that one, and submit the one they did get, (you have a faultless email system or fax machine??) is in fact, an abrogration of fiduciary duties to their clients. You don't have TIME to follow up on those conversations?? You don't have time to make a two-minute phone call on your client's behalf? you don't have time to do your job?? REALLY????
Hi Christianne~ The best thing would have been to call him immediately and verify that he did indeed get your email containing the offer just after it was sent, AND leave a copy at his office too. It is up to the buyers agent to make sure it gets into the listing agent's hands, or the buyer could so easily lose out. This way we are protecting the buyers best interest. Too bad it has to be like that, whatever it takes to protect our client! I have had it happen to me, so now I am extremely careful and never assume anything!
Vickie - I don't disagree however I did ask how he wanted delivery, and then complied with his requested format. I wasn't so much upset that he didn't get it as I was that he failed to communicate with me. I would have called to ask what happened.
And - his (obnoxious) response was what sent me to the broker...
Charlene - All I can say is AMEN - REALLY! ;-)
Hah! There should be a neverending supply of REALLY? blog posts -- so great concept and I look forward to reading even more. One of the big REO agents in our area doesn't "allow" anyone to call. You have to e-mail him everything and you have to e-mail to get the property disclosures so you can even write an offer. Needless to say, if it is a good property at a good price, your buyer is going to be aced out of it.
Christianne,
My branch helped out with REO overflow for a couple months... Yikes!! Listing agents were impossible to reach, and the buyer's agents were always frustrated. Banks have to find a way to get more agents involved...
Christianne: I wonder if he was the agent with the other offer and trying to double side the deal.. Hmmm
Christianne, you sound like the kind of agent I would want to have on my side if I was buying a house... or selling for that matter... and I love the really concept... I feel your pain... I've had your pain... mayber ondiffernetg subjects... b ut still... I will look out for your really...
Christianne - Lack of responsiveness is one of my biggest gripes (and it's not just folks doing short sales and REOs), but some folks area really good at follow-up too. It's especially annoying with offers, particularl when you request confirmation adn the offer is emailed (not too hard to do a quick "got it"). I just don't buy that someone is too busy as there are ways to deal with this. And setting expectations, as others above have suggested, makes a huge difference.
Jeff
Why on Earth would you expect communication? I follow up with agents when at all possible to make sure they've received my offers and to let them know I've received mine.
Roland - That's exactly what I was thinking...especially since he didn't use an MLS compliant lockbox, access code virtually impossible to get. I showed it when it was 0 days on the MLS and he already had an offer?
Really-- what a good blog and what a situation>
I love your episodes of "Really!" Really I do!! Keep em coming Christianne, they're really great! :-)
Christianne - I enjoyed your story and I agree with your rules however, I do not understand the selling agents lack of concern about a fax system that is costing him business and I do not understand his lack of follow-up and follow through. His Principal Broker needs to ensure he gets the training he needs to properly represnt his clients, manage his transactions, and how to communicate in the 21st century.
Christianne - This blog was a REALLY good read and a well deserved feature. Please keep us posted.
Christianne
Sadly this happens way to often and the Asset Managing companies have NO idea. And they "really" should be informed.
He had to have the offer from the inside to get this done per your timeline with your story. I see the crap is rolling north! Sorry to hear all of this.
I really wish the REO companies would send us a nice survey about how their title company/agent did, how the list agent did and how their asset manager did. Would definitely show them the weak links and hopefully get us some action.
Christianne, This should work nicely into a series, Really? just says it in that baffled way that we all deal with unprofessional and rude people in the business. In Texas during the S&L Crisis there were a number of REO and Bank owned properties agents that flourished and also acted in the same atrocious manner and after the inventory went away, so did they! Thank Goodness!
Christianne - Great post! I don't know why people are in the business if they don't pay attention to their obligations to their sellers! Well deserved feature!
Mary
I had to deal with a similar listing agent recently myself - almost as if he didnt care about highest and best deal for his seller !
Great post CHristianne, and very nicely presented :o)
Cheers !
Sheldon
Outstanding comments, Christianne. The banks have no idea this is how you are being treated, and you were fortunate that the offer finally got through. We have had many that despite frequent calls, e-mails, texts, and faxes, we were beaten out by other offers "already accepted, but somehow never disclosed. There is only so much time in the day to file complaints with your local Realtor association, state licensing board, or MLS service for the violations of ethics, handling of contracts, and overall unprofessional behavior. But as a local Realtor officer, I have the complaint sites on my "favorites" list so we can file faster. The only way to clean up the industry is one scofflaw at a time. Really!
We have REO agents here that don't even put a sign in the yard, and I am so not talking about ghetto properties, and don't put any room measurements, don't answer their phone, and don't return calls, and yet they have a good amount of REO listings. REO is an interesting breed of real estate for sure. REALLY!!!!
I completely respect your message. One of the things that is lacking in this business, no matter where you work and how pricey the homes, is professionalism. Get a fax confirmation page, email documents and CYA. If you can prove through tracking emails and faxes that are dated and time stamped that you were first, you are a step ahead of some agent who is playing fast and loose.
BTW, I grew up in Carson City. How's the market there?
I really can't understand why someone would have such poor communication skills. It is important make the time to call back and follow through.
Really is right??!! I am glad that things are looking up for your buyers, but what a roller coaster ride that was! Hope that your Mother's Day was well spent! :)
Really, Christianne? Love the title. Perfect. I don't understand how a listing agent could possibly think they were doing the best service for their client if they can't bother to let the seller's agent know they didn't receive an offer that the seller's agent said was on it's way over. You would have no way of knowing they didn't receive it. Although, you were also right to own up to the fact that you probably should have followed up yourself.
The listing agent is supposed to gather offers to present, not discount the ones they feel like it. I'll give them the benefit of the doubt, but maybe they hear the nonsense 'I'll be presenting an offer' so many times and nothing ever comes of it. He/She should be more courteous to people that actually put it on paper. Shutup until you put it on paper!
LOL...I needed that. I had the same issue with someone this weekend. Submitted offer on Sat, full price, great terms. NO RESPONSE TO MY DAILY PHONE CALLS UNTIL TODAY. Unfortunately, there's a full price all cash offer, so mine probably doesn't stand a chance.
Great blog and right on. There is so much of this stuff going on here in Phoenix. Many agents are even acting like agents anymore. But don't get me started......this could go on forever.
Christianne:
I too love your concept for the "Really?" posts. Nice job. And you are absolutely right to be frustrated at the non-professionalism of some agents out there. Didn't we all learn early on in life that taking on too much and then doing a bad job was worse than taking on what you know you can handle and doing an excellent job at it?? I'm all for agents getting a lot of business and making a decent income, but if you have so much going on you can't keep track of your business it is time to refer. On that note: LISA VOCELKA NOW TAKING REFERRALS.
Good luck today and everyday Christianne!
I think there is a lot of Fraud with some REO agents.
That is completely annoying! Good for you for your persistence! That most likely got your clients the house of their dreams! As for the goobers out there...sadly we are stuck with some of them and just have to pull double duty to make sure our offers are received and presented. Must be a terrible problem to have so many listings with so many offers coming in that he simply cannot remember them all!
Christianne, thank you for your post! We are having similar problems here in Maryland. On a separate note, there are two REO agents who have a tendency to sit on them for a week or more to rack up the offers. 11 last time. When they had 4 acceptable ones in the first week. REALLY!?!?!?!?!? It is scary to me. Shouldn't, at some point, our Code of Ethics kick in????!!!
Hi everyone! Just in case you're wondering - Chapter 2 of REALLY??!?! - the outcome - was just posted and can be found here...
We Got the House-REALLY??!?!
I have been following your story with this couple so I am glad to hear that your offer was submitted and is the highest and best!