Did our ordeal stop there? Nope. An agent who thought their great offer went unseen, spent days contacting anyone and everyone they could (REO listing agents regularly employ others to field the hundreds of calls they receive and asset managers do not want to be dealing with agents directly). He contacted anyone that they could find connected to the property to lodge a complaint. When they finally found that their offer was not the best in the lender-owners eyes, the damage had been done. It delayed my clients transaction for 2 weeks (Not too big of a deal) but, more importantly, created quite a name for himself with some pretty large REO agents and asset managers. Do you think that this may cause an issue in the future? I suppose it could.
If you miss a great REO....move on and be better prepared the next time around. The lucky bird gets the worm!
(Luck is when preparation meets opportunity)
I know how frustrating this is for you and am glad your clients found another house.
If you suspect foul play and this is not the first time this has happened with this particular agent, you may want to file a complaint through the Grievance Committee at your local association of Realtors. As Realtors we live by the Code of Ethics and are under obligation to live by and enforce that Code of Ethics.
If this agent is acting this way towards you, he is probably acting this way with others. You might want to give the chairman of the Grievance Committee or your local executive officer at the Association a call to find out how you need to proceed. This type of behavior is what has given the industry a black eye in the eyes of the public. You would be doing all of us a favor by trying to eliminate this behavior.
And it is just very difficult in that I can never reach the agent. He is always "busy" doing something. That, and both times, when I called and they told me there were multiple offers and to bring the highest and best, and when I called and they told me the bank had accepted an offer...both of these times, I was the one who called - and when I asked why I hadn't gotten a call from them, both times they said they had called me. and that was just not true. There were a few other things that just "weren't right."
I did call and leave a voicemail for the agent asking for documentation showing that the bank rejected our offer. I will find the broker's email and email him/her as well.
And we did move on - and are under contract for another home...but it just is the principal of the situation. AND I agree - OUR REPUTATION IS EVERYTHING. and when we have Realtors like this, we are in trouble! Even if it turns out our offer did get presented and all was on the up and up.....the way that my buyer's were treated in this situation was unacceptable, and I believe that the banks that this Realtor is working for should know what is going on!
Next, try sending an e-mail to the agent (careful with your tone- it's hard to come across well in email) letting him/ her know that you would like documentation that your offer was presented. The Seller should have signed that they were rejecting your offer at the bottom of the contract. Give a reasonable time-frame of when you would like to have a response. CC the Broker and your client. (Your client will love knowing that you are doing all that you can for them)
If no response or negative response, you may contact the Real Estate Commission, but be careful that you have all of the facts before you launch a complaint. This action should be used as a last resort.
For the future, note that it is within your rights as a Buyer's Agent to be present when a contract is presented to the Seller. You may not speak or negotiate, but you may be present.