Also, keep in mind that with foreclosures the process is not a typical real estate transaction and all the banks have their own processes for negotiating an offer. Most are inefficient and timely. So, ultimately your frustrations may be directed at the wrong person. I have closed foreclosed transactions that have taken 3-4 months to close. A standard transaction typically closes within 30-45 days, with offers being negotiated in less than 48hrs. I hope this helps, and good luck.
It's our feeling that your frustration may be misdirected and could be more accurately represented if pointed in the direction of the bank. Changing agents could find a different face dealing with the same frustrating issues.
Why don't you ask your realtor or their broker for additional assistance. You might meet with the broker and express your concerns. They may be able to partner you with another more experienced realtor or change realtors all together. These transactions can be tough even for the best realtors. Banks don't always respond, sometimes they respond slowly, some of the REO agents they're dealing with on the other side aren't always responsive and there can be a host of other issues.
It sounds like you may have already done this with a buyer's agent, in which case the current agent will probably be entitled to receive a commission. Procuring cause (i.e. who gets paid for representing you) is not established merely from the showing(s), but it is much easier to prove when negotiations have begun.
I wouldn't necessarily call it "unethical" to change agents, but it may not be wise or easy to achieve without some headaches. I like the suggestion below to speak with the agent's broker. Also, as Josh mentioned, it may have nothing at all to do with the agent. We have a short sale that was supposed to close in December that is STILL not fully approved with Countrywide.
a significant chance that you won't get it or that you won't get a good
deal on it no matter WHO you are working with.
I would also suggest that you discuss with your Realtor to get her broker who should be very experienced to help with the process. That way you keep it in-house and she will have the opportunity to learn from her peer.
Good luck, Keep us updated.
My REO manager friend likes to joke about all the â€œfirst timersâ€ who continue to drive up the bid when they donâ€™t hear anything from the bank. Every time I see the â€œhow come I havenâ€™t heard from the bank about accepting my foreclosure bid after 30+ daysâ€ on trulia, I have to let out a chuckle because heâ€™s so right. For those newbies, this is real. They know that when you donâ€™t hear from them that a large percentage of people drop a second or third offer higher than the previous one. So don't expect a reply from the bank.... **WARNING, YOU ARE BEING TAKEN ADVANTAGE OF HERE**
You want a deal on a property right, everyone wants thatâ€¦. So the moral of this story is:
1. the 60 days you have to wait to hear from a REO, you could have made 2 or 3 better deals with a property that has been on the market for a long period of time. A good realtor will drop an 80% offer on a property and get one accepted.
2. You are attempting to make a deal in a house covered in a cloud of bad energy, donâ€™t be surprised when it rubs off. Personally I stay away from these for this reason entirely.