Have you mentioned to your current agent about the original offer that you and your husband submitted on this property? There may be an issue of who "procured cause," which may spark a commission dispute between your original agent and your current agent.
The National Association of Realtors (NAR) defines procuring cause "as a uninterrupted series of causal events, which results in a successful transaction," i.e. sale/purchase of a property. The agent who procured cause will likely be the agent awarded commission.
You might want to discuss with your current agent especially if you choose to pursue this home and eventually purchase it. Your scenario may not be so black and white. Your current agent should be prepared.
In regards to the REO, I would be diligent and yet pleasant. Have your agent contact the listing agent or the broker for an update. Some listing agents prefer a text, others a phone call or an email. Politely remind them that you are ready, willing, and able to perform as buyers and would appreciate the opportunity to work with them... or however you want to communicate that you are sincere in your desire and ability to purchase this property.
In the meantime, I would suggest you continue to search for other properties.
Best of luck to you. I hope this has been helpful!
Prudential California Realty
Understand also that foreclosures are a royal pain in the a**. The asset managers who oversee these properties are incredibly arrogant, and in my humble opinion having dealt with them for a quarter of a century now generally dumb as dirt. They tend to serve more as impediments to successful transactions rather than as facilitators. It's not uncommon for them not to respond for days at a time. The listing agent however should respond immediately and acknowledge that your offer has been submitted.
REO listing agents often do not return calls in a timely manner. Many of them, because they have solid relationships with assest managers get so many listings they simply can not provide personal attention to them. This property could already be in escorw, and the listing agent just has not updated the MLS. In my experience with REO agents, when you get ignored it is because they already have a deal on the table.
Try not to get too hung up on this property. Sounds like you have an agent you trust and who seems to be working hard for you. I am sure he/she will find a home for you!
Kawain Payne, Realtor
Disagree. Tim Moore hit the nail on the head. Buyer even knows it, stating "we didn't know any better." It is ALWAYS better to use an agent that is NOT in the listing agent's office. Always. Otherwise, who is really working for whom?
Procuring cause? That was over when your agent abandoned you. Even if she had a "procuring cause" claim who get's paid has nothing to do with representation. The listing agent still must return your calls no matter who gets paid in the end.
Google "procuring cause broken chain of events" and "procuring cause abandonment."
Now...I have to wonder....this is a question you really should be asking your new agent!!! :)
It is my opinion that the listing agent is not avoiding you because your offer is now being presented with a new agent. The listing agent has to be fair & present all offers OR the highest & best choices to the asset manager they work with. It is NOT in the best interests of the listing agent to do Anything to jeopardize the Account he or she has with that bank.
Multiple offers are occurring on most REO properties & the listing agents don't call back everyone who offered. It's just the way it is these days. If you're offer IS in the highest & best pile, you would be hearing from the agent.
If you feel you're being treated unfairly, contact the listing agent's broker, if the listing agent is the broker, you would only be able to file a complaint with their local board of Realtors for starters & that probably won't get you the property anyway.
Shoot me an email directly if you'd like to talk about this further. I don't look back on this same Trulia thread for answers posted after mine.
Emily S. Knell
Realtor Since 1996
Realty ONE Group
Short Sale Specialist - 99.9% Listing / Closing Success Ratio
That aside, if the listing agent is ignoring you, have your agent try to go directly to the seller or at least have them (or their broker officer) speak to the broker officer at the listing agent's firm.
I would check with the new agent because ethics are involved. Good Luck!