Listing Agent or Another Agent for REO properties?

Question

When purchasing an REO property, have you had more success getting a better price by working directly with the agent that listed the property with the bank, or do you feel that the negotiation is equivalent regardless of which realtor you use?

Altin Velaj · Answer

On another case the listing agent I was working with got the bank to give them the prize we wanted because he had a vested interest on the property.(we partnered up) . So yes the listing agent can give you better prize.

Altin Velaj · Answer

1)how well you know the realtor ? If they are in the same office I would stick with the realtor you have. The reason is that they have relationships and they know each other. So as a good practice a realtor won't accept you as his or her client. As far as the deal goes . I would still stick with the same agent. If there is inaf incentives they will push the bank too get you a better prize. Bottom line is money talks. A realtor has to protect himself . Because he needs the business from both sides. I offered a 5 k to a listing agent to get me the prize to where I wanted to be and she did not do it because off her morality.

Brandon Gadish · Answer

On this particular property, I live in the same city, full market value of the property is in the $320,000 range.  I generally work directly with the listing agent on these types of deals, however in this deal I wound up with another agent in the same office as the listing agent.  Because I'm not a realtor, I'm just interested in knowing if the listing agent will generally have a greater likelyhood of successfully negotiating a GOOD deal versus any other agent considering they are already in direct contact with the seller which happens to be the bank in this case.

Altin Velaj · Answer

Depends on the prize of the house. If below 50k I would go with the listing agent. Unless you don't live in the area and your realtor can be your eyes and ears for you.