BiggerPockets

It seems to me in California at least it is hard to get an agent to take offers very seriously. With all the DRE hoopla Negative articles being published everyone is afraid to get involved :roll:
Regardless how you explain it as just business as usual it always comes down to this.
Its not legal to do, my license is on the line.
or
We have our own negotiators and they are great.
or
I have to look out for my clients, you guys want it for 60%.
I know it's not illegal to do.
I also know their negotiators are just offer submitters.
Your clients are better off selling without a judgment,
and the banks think a short is worth fair market value.

Any thoughts or advice. Almost to the point of not even trying. These agents are beyond forward thinkers.

Hello Curtis and thank you.
Very simply in a nut shell I let them know I will come in with cash on the A-B. My contracts are written by a very high rate Real Estate Attorney who specializes in short sale transactions. I mention that we keep them with their client and use our agent on the B-C to keep conflict out of the equation. I offer them a full commission regardless of what the bank offers.
I require to be in charge of the negotiations with the lender. After signing all offers come to me.
Also I give the seller an out, if they find a buyer who will pay full price to satisfy their commitment I walk or if the lender demands a judgment against them if they want out I walk.

Too true Realtyman,
I had one agent call the DRE on me and they told them I am doing it right and you have nothing to worry about, as long as he does what he says.. They still are afraid, go figure...

Do you present ALL of those offers or do you make the determination that the bank isn't interested on your own? Unfortunately, many agents do the latter...

The bank has already received the down payment and years of payments. Many times the principal amount has already been received then they turn it over to the realtors who then try to list it at full current market value. No investor I know of will go for something like that. Realtor is just looking to get a higher commission - placing their needs and wants ahead of the Seller and Bank. It really is a shame. That is the biggest holdup to getting the backlog of homes sold. Eliminate the realtor in the middle and banks would be making deals left and right!

Best way I have found to deal with the problem in the middle is to bypass them. By Law they are supposed to present all offers received. They do not do this and the check and balance is their own internal monitoring so no penalty will be charged to them. Call banks and ask to speak to the REO remarketing dept. Explain the situation that your offer is not getting through and would like to have some time to present your offer to them.

@Cameron:

I think everyone would appreciate a response to Josh's perfectly valid question!

I wouldn't expect an answer Brian. People like Cameron come on posts and semi-flame and then usually just scuffle off into the night afterwards.

And this reply would not be considered semi-flame? :wink:

An agent/broker's obligation is to his/her client. With that said, I present all offers to my client and advise what I feel is the best course of action. The client makes the final decision on which offer will be accepted and submitted to the bank for consideration. Although behind (or not) in payments to the bank, the client is still the owner and has the decision whether or not to accept any offer submitted (subject to bank short sale approval of course). After a bit of experience dealing with lien holders, appraisals, % of fair market value acceptable, etc... I can safely determine which offers the bank WILL NOT CONSIDER (mainly to internal guidelines).

I agree with Joshua that agents that do their own bidding without consulting their clients are doing a disservice to that client.