A Few Bad Pennies….
About 3 weeks ago, I wrote an offer on a bank owned property in Hayward for a client of mine. I tried contacting the agent representing the seller to let her know that I was sending an offer, but wasn’t able to reach her. So, I emailed the offer and, also, faxed it to make absolutely sure that she received it by the deadline.
Over the course of the next 3 weeks, I tried diligently to reach this agent. I tried both calling and emailing. Sometimes when I called, I would get her voice mail. Other times, I got her husband who was listed as the co-lister, but knew nothing about the property. He indicated that he had “taken the phone away from her, because if she kept taking calls, she would never get anything done.”
To date, I have never received one shred of confirmation that they even received my offer, let alone rejected it. Today, my client saw it on the MLS as a pending sale. This is unconscionable and no legitimate professional Realtor would behave in this fashion. Unfortunately, ever since this economic crisis began, we have been seeing more and more of this type of behavior.
These fly by night agents are taking on more listings than they can handle, tossing them on the MLS and, in many cases, not even bothering to take a photograph of the house. They are doing a disservice to their clients and to their fellow Realtors.
It’s a horrendous situation and very frustrating to the true professionals who work incredibly hard to sell their listings and to represent their buyers and sellers fairly and properly.
The most frustrating thing for me is that it seems that these are the same agents who originally took advantage of the people now losing their homes. Many of them acted as both Realtor and loan agent, getting their clients stuck in loans that they knew they couldn’t afford. They didn’t care as long as they got their thousands of dollars in commissions. Now, they are (financially) benefiting again. I can’t help but wonder at what point they will somehow get their due.
As professionals, I think we need to take a stand and, when we see these people acting unprofessionally or unethically, report them to the Department of Real Estate. That’s what I intend to do in this case.
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12 Responses to “A Few Bad Pennies….”
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Kathy,
I share your frustration.
It is a simple rule of business etiquette to return a phone call or other contact in a timely matter.
At the very least, they could leave a daily updated message on their voicemail.
Each market change brings different challenges!
Brian
These are the agents who creat a bad name for eveyone and create an unpleasant experience for the buyers.
Larry
kathy, being the professional you are must make agents like that all the more frustrating. It has alway been my observation that the issues with a real estate tranasction are to often traced back to agents not doing their job. Too many agents without any education or training. As we move forward many of these people have and will leave the business, and some of the challenges they create will go with them. Yet our role will never change, provide top notch service, with the highest level of integrity, and win raving fans for life. A very special opportunity for those who follow that path
While many hold the banks responsible for the problems selling some of these properties there is plenty of blame to go around. It’s frustrating situation to try and explain to clients who just want to buy the house and don’t understand why they can’t. I agree with you whole-heartedly!
Kathy, I too share your frustration. these situations can be very difficult to explain to our clients. It concerns me greatly that these agents show so little respect for the professionals who make their job complete by showing and selling their listings.
Hi Kathy,
I must say that in all my years in Real Estate, I have never heard of an agent ignoring an offer. All I can say is “YIKES”! It is not only a disservice to their client, but inhibits your opportunity to help your client. I really feel for you, and thank goodness our Realtors are professionals.
Jonathan
Hi Kathy,
As most have already stated it can be very frustrating. I have also come across many agents who list bank owned properties as you have described. Although there is a certain percentage that fall into the description that you mention, there are a few that are quite actually good at responding and being organized. Yes, they are far and few, but they are out there. I have been lucky enough to be in contact with a few of them and they should be commended for the hard work and effort that they put in, for our “job” consists of many different variables and we as an industry work very hard for all of our clients. Keep up the great work everyone! The only person we can control is ourselves…
Hi Kathy
Thank you for your article, you spoke for many of us who trying to help clients in this environment. A return phone call or email does not a take a lot of time, keeping the communication open is the professional way to do business…
Thanks everyone for your wonderful comments…The flip side of the story is that there are so many more wonderful agents than there are bad. I’m working on a short sale with an agent over in Hayward and doing another transaction with a San Francisco agent, as well as a sale with an agent from our office, Rehana Hafiz. All three of these agents have been incredibly responsive and professional. I guess the moral of the story is that for every bad agent there are (at least) 3 good ones!
This is a great post. It’s too easy for a few bad agents to smear the name of all the smart, hard-working real estate agents out there. Unfortunately, real estate agents are beginning to get the same reputation already enjoyed by lawyers and, of course, reporters. (That’s what I am, and, believe me, people hate reporters!)
Kathy,
Yes it certainly is frustrating and an ethics issue for our industry. On the postivie side; this works for us professionals when presenting an offer and some of the competing offers are presented by these so called “agents”. We win then!!!
I just helped an investor purchase a duplex in Mountain View. The agent was from San Jose. He told me he always has a smooth easy transaction when working with San Mateo County agents vs. agents from his back yard San Jose. Due to me getting everything back in a timely fashion I was able to obtain a credit for my client. He was thrilled. Good Guys do Win in the Long Run!!!!
Dan, thank you for your comment! In any profession, be it reporting, real estate, law, etc., it is so frustrating to deal with people who are unprofessional and, worst of all, unethical. Even worse, however, is to be judged by the rest of the world based on “a few bad pennies” Most realtors, just like most reporters, are working hard each and every day to do their best to be honest and fair. I can only hope that the public realizes that the bad guys are in the minority.