I will say however that I have had some positive and negative experiences with some of the agents listing these REO properties. There are several agents that tend to have developed a bad reputation around town. I will not point out anyone specifically, but I have reported some agents to the division and association for disciplinary action. One the other side, there are some REO agents that appear to treat these transition ethically.
If you are going directly to a "sellers agent" whether that is an REO seller, a listing agent for a regular old bonified human seller, or a builders agent, they all work for their client, the SELLER. If you have an agent that represents you, a buyers agent, then they should be representing you. If you have been putting in offers on REO homes, the seller, even though its a bank, is still required by law to give you a rejection of your offer. If you feel your agent isn't presenting your offers, you can ask that they present the offers in person to the seller or their agent and request a signed receipt of your offers presentation. In our world of electronics, its become very easy, especially in a bank situation where as a buyers rep, you don't have the opportunity to present the offer to an actual individual seller, to get used to sending offers by fax. Unfortunately, the banking industry has for all intents and purposes hijacked the real estate industry, and until there is legislation and oversight to force them to deal with consumers in a timely manner, they will continue to take as much time as they please to respond to offers....bottom line, make sure you have an agent that is YOUR agent, dont just go to the sellers yourself. A buyers agent will represent you, usually free of any fee from you, receiving their compensation from the seller of the property. Its a great way to have someone on your side.