Do real estate brokers use impossible short sales to get new business?
Dilbert asked:
They want people to sign up to use them as buyer’s agent, so why not motivate those people with impossible short sales, and try to sell them other property while they wait forever for the short sale to be approved?
This entry was posted
on Saturday, July 17th, 2010 at 12:00 am and is filed under Renting & Real Estate.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
They want people to sign up to use them as buyer’s agent, so why not motivate those people with impossible short sales, and try to sell them other property while they wait forever for the short sale to be approved?
How common is that?
July 17th, 2010 at 12:34 am
Yes, this is happening. In many cities there are 50,000 realty agents and only 4,000 sales each month. Agents are anxious to stir up any business. Just to get thru the bad times. Ed Atun
July 19th, 2010 at 12:39 pm
If you believe that a real estate agent is treating you unfairly you should complain fist to his broker. If you still are not satisfied you may want to complaint to the state. Judgment CARE
July 21st, 2010 at 6:57 am
Very common, given the number of agents out there now and the shortage of qualified buyers.
I’m not sure I can see what the problem is, though. If they direct you to a home you like at a price that appeals to you, what difference is it whether or not a short sale is involved? Short sales are actually quite a pain in the posterior to the potential buyer; most of them end up going to foreclosure anyway because buyers make ridiculous offers and all your work and waiting is down the drain. OldJimmy
July 23rd, 2010 at 7:25 am
Frankly, if the situation is hopeless, why on earth would any agent want to spend time and money when they know they will not get a return on their investment? If the house does sell short, the chances of these folks getting another mortgage anytime soon, is small. Even a short sale impacts their credit. I don’t take listings just for the fun of it! I need to know I have some hope of making money. Realtoratheart
July 25th, 2010 at 2:14 pm
Short sales are a reality for owners who own more than their property is worth.
You should keep in mind some points while choosing a real estate agent like price, reputation and experience.It will be help you… Donald