Mark Burns

The simple answer is to just say no. Once buyers understand the likelihood of getting one closed, they will stop wanting to look at them. The agents (with a few exceptions) behave just as you describe. They have dozens of offers on underpriced homes and have no need to return calls. Many are from out of the area and work independently of almost any broker supervision. Cash wins and normal buyers come away with a bad taste in their mouths. If I was a buyer and had to go through all the problems we have in that part of the business, I'd rent.

It may take a couple more years but we will eventually dispose of these 'toxic' assets. And once that happens, all we will hear about for the next decade will be good and bad stories. Hopefully the market will learn so we don't do it again in 2017.

In many counties (maybe Riverside) in California, 75%+ of the inventory is distressed properties. Sounds like it is time to get some 'normal sale' listings and try to balance your production. It will save your sanity and build a good long term base. As far as the REO agents who remain after this market gets back to normal; I read this the other day, "Don't think we're not keeping score, brother . . ."

(Or more nicely . . . "Do unto others")

Mark Burns, Realtor
Coldwell Banker Elite - Top 2% Worldwide
President - PRDS, Contracts and Forms for Silicon Valley Residential Real Estate 2008, 2009
Chair - Region 9, California Association of Realtors 2009
President - Silicon Valley Association of Realtors 2007
DRE #00896552 Licensed since 1985 - Sun Dec 27 2009, 22:03