But what I find interesting is that you outright asked her why and she brushed you off. So perhaps the issue is not with the lending issues presented by the REO property nor with the additional fortitude required in dealing with bank... but rather your agent's own comfort level with dealing with foreclosures. She may not have the experience or training. She may have had a bad experience with asset managers in the past. Who knows! If she is your agent and you are her client she has obligations to be honest with you and not brush you off. She is also under obligations of obedience... so if you want to see a bank owned property, she has to comply and do as you say. You may need to address this with her and not let her 'brush you off'. You may need to remind her she works for YOU and your wishes come first unless she can validate her reasons otherwise.
Outside of being a complete whack job, I'm sure she has some reasonably explanation for not showing you the bank owned properties.
There is usually no difference in commission - but there is a difference in the amount of aggravation, stress & frustration when dealing with a bank entity who operates by their own strict rules and timelines.
I have been in business since 1990 and find it amazing what a good bit of the real estate industry has become. Many forget that when we take a license, it is like taking an oath to best serve the public for which we are licensed to assist. I even run into some difficulties when trying to work with others for my clients --- anyway can post a sign on a property or have a lockbox key. I believe that it is an effort on all parts to reach a successful outcome for all parties involved.
Feel free to email me with any questions. I deal in all facets of real estate including being a HUD broker and finding investment properties. I am very familiar with Monroeville, and the surrounding areas. Thank you. If you were able to already find a good agent in assisting you, then I am pleased for you and commend the agent.
It sounds to me that you two have a communication issue. Unmet expectations are the biggest reason that people have problems with other, not just Realtors and clients. Particularly with buyers, some agents don't ask the right questions up front and end up wasting the buyer's time IF they have unrealistic expectations.
OTOH, if the agent in fact has certain "criteria" or specialty, then the buyer needs to make sure up front that they are in fact a good match. Remember that Realtors are only paid when a transaction closes, so if for some reason the Realtor thinks that the buyer may never buy, then may not know how to have a heart to heart conversation regarding unmet expectations.
I would have a heart to heart with your agent and they should explain why they are blowing you off about this. There are greater risks involved with this kind of purchase but as long as the risks and fees are outlined for you and you want to go this route, you are the boss!
You are the one paying for the home, right. If your agent is not helping you or explaining things to you, then maybe you should shop for another agent.
I hope this has helped you.
I'm not sure why your agent would refuse to show you foreclosed properties. I have not seen any indication (at least here in Wisconsin) that agents are paid a lower commission for a foreclosure.
Is there anything in your financing requirements that may affect you possibly purchasing a foreclosure? Almost all of them have no disclosures and are as-is. Some properties can need major repairs and would not qualify for FHA financing possibly. But you don't know that until you try.
One suggestion would be to talk to your Agent's office manager, explain your frustration and see what the real reason may be. Maybe your agent isn't familiar with foreclosures herself- and would benefit from some assistance by her manager or another agent.
It would probably be in your best interest to have agent representation when dealing with foreclosure properties, as some of them can be pretty involved and tricky....
I'm sure you can at least get a resolution to your question
All the Best to YOU!!
That is an excellent question. Yes, foreclosed properties may take more time, paperwork, and extreme patience on everyone's part.
Do you have special circumstances that require you to get into a home quickly? If so, possibly a bank owned property may not work for you.
If a home is listed in your area's Multiple Listing Service with an offer of cooperation and compensation to participating members, there "should be" no reason that you would not be shown those houses that you fiancially qualify to purchase.
Again, unless there are extenuating issues that you have not discussed in this forum.
Ocean City, Maryland