I've discovered that some listing brokers hold a listing for his investors (the ones on his speed dial) first. They give him the most business and he reciprocates in this way. It is not ethical but there is nothing to prevent it from happening at this time.

There are many issues I have with RE Agents/Brokers.

Along the same lines, I discovered years ago, in a hot RE market, that agents were 'holding back' listings from MLS a few days or more, until they had successfully contacted their best buyers/investors first (thereby, enabling them to 'double dip' and get both the listing and sales commissions). By the time it hit MLS, it was 'pending'. Slick tricks....

This is a reality of the seedy unberbelly of the real estate business, unfortunately.

Just finding out the SOLD prices & comparing it to your offer isn't going to cut it. There could very well be 3 offers at the same price, all with conventional financing and yours isn't chosen. They'll end up picking the one who is the strongest buyer, has more money in the bank or a higher credit score.

The REO listing agent is not a bank employee, they're assigned the listing through an asset management company through the bank, they have a heart. On top of any offer you write, you should also write a Cover Letter about yourself and why you are the strongest buyer (not necessarily because of your credit score or how wealthy you are) don't make this too too long, just express & paint a picture to the listing agent as though you were already chosen as the future owner.

You need to stand out in the pool of offers that WILL be made.

emilyknell1@yahoo.com

Hi, Susan
Request that your offer be rejected by the seller. Wells Fargo requires listing agents to keep the property on the market for 6 days including a weekend.
Have your agent look up the past houses that you were interested in and compare the closed sales price with the offer you submitted.
Have your agent follow up with the listing agents and do some footwork.

Don't stress out and keep looking for your dream home,

Jes Sierra, B.Sc.
Realtor®

Hi, to my understanding Wells Fargo does not allow employees to buy WF foreclosures neither short sales.