All Forum Posts by: Mark Brian

Great to have you here. If you are not already a member please also consider joining http://www.upstatecreia.com/ so you can network with many other investors in the Upstate.

As a new agent, I would consider very strongly the training you will get. This will be the foundation for your career.

Steve is very correct is pointing out the importance of the BIC and how the company is run. Also important is the other agents you will be associated with at whatever company you select. Many people think that birds of a feather flock together.

Good luck and best wishes with your new career.

Originally posted by Renel St. Fleur:

All Im saying is that even the properties been on the market for a long time, the listing agent might make it hard to get it done.

If the property has been on the market a long time, the agent wants it gone. REO AM/banks grade the performance of their listing agents based on DOM & sold price versus List price and other factors. But the decision is not theirs, it is the banks/AM.

The listing agent is not the one holding out for more money. The yes/no decision is not theirs to make and if the agent draggs out the disposition of the REO, it could hurt their relationship with the bank/AM.

So if it has been on the market awhile, the agent should be eager to get rid of it.

Under promise and over perform.

Interesting they reference a Fraud Investigation Unit that was started long ago.

My MLS shows expired, sold, withdrawn etc etc for several years. Changing the status will not make it disappear.

A lazy agent may use the list price as their value in the BPO. More than likely the BPO will ask if currently listed, DOM, original list price etc etc.

Recently I have seen one bank be extremely stupid and another practically give stuff away. Using ARV as your criteria would have meant overspending with the giveaway bank, paying above retail would not have worked with the stupid bank!

Make your offer based on your numbers, if they do not accept move on to the next one. Move on and make money somewhere else.

You may be right that the agent was just regurgitating incorrect info just so he would have something to talk about. And the other agents took what he said as the truth without researching. We see it all the time in politics today. People believe what they are told without checking the facts too often.

The correct thing for an agent to do is forward your contract, paperwork and proposals to their attorney and see what the attorney says. Then the agent can intelligently make their decision.

I sure hope that no investor or agent would believe what they are told without performing due diligence, consulting with an attorney, etc etc before heading into a new business venture. Especially with the Feds looking hard for RE fraud in SS, mortgages etc.

This blog may have come about because of the attention to the subject of "short sale property flopping" as reported in Inman News at http://www.inman.com/news/2010/03/9/short-sale-risk-property-flopping.

It is now a members only article now. Sorry. :cry:

Originally posted by wheelhouse:

Lisa, in this business 9 out of 10 people will tell you "you can't do that". You need the find one that says "you can do that". Good luck with your offers.

When people say you can't do it, that's their limitation. Don't let it be yours.

There has been some excellent advice so far. Dual agency means limited representation for both the buyer and seller, at least in my state. And some states, companies or agents will not enter into a dual agency situation. With a little help from our friend Google, you can find a plethora of heated debates about dual agency in the past month among agents on the RE.net.

Maybe you are experienced enough that you do not need full representation and just need to submit offers. Or maybe not. Come to BP and continue to ask questions and educate yourself. Do not let this situation, or any others you encounter, deter you from becoming a great successful investor.

Matt Mathews brought up an excellent point about how your agent should be honest with you about an offer having a slim chance but submitting it anyway.