NEGATIVE/DEPRESSED REAL ESTATE AGENT? WHAT CAN
I do-i have tried working with a agent on foreclosures and he do not want to take my $66k bid on a $144k foreclosure that is listed with another company. How many of you use a real estate agent to make bids on listed-foreclosures or do you go direct with the agent who has it listed?
THANKS
Get another Realtor that will do what you want them to do. They are out there.
As for going with the Listor...I'm not sure from an investment point of view..but I do know they are obligated to present ALL offers to the sellers (Bank)
Former Realtor
I agree that you should find a different agent. Simply not presenting your offer is unprofessional and rude.
In the agent's defense, though, he probably has a good idea that it wouldn't get accepted (still no reason not to present). Unless the bank is completely unrealistic as to the current value of the property, an offering of less than half of the asking price is a bit steep.
Also, with an agent (and especially dealing directly with a bank) you will need to convince them that you are serious with your offers, usually with an escrow deposit and either proof of funds, or a bank preapproval on a loan. It takes a bit to get your foot in the door on REI, but stick with it.
Roger
Correct me if i'm wrong but I think Realtors are legally obligated to present ANY AND ALL written offer you propose.
Some states might have a law regarding the presentation of offers to Sellers, but it's the Client's instructions that must be respected.
Real estate brokers and their agents, including those who may actually be Realtors, have a duty to their Clients.
Many Clients instruct their real estate broker NOT to waste their time presenting lowball or otherwise unqualified offers.
The brokers I have hired in the past to market my property were instructed to prequalify Buyers before they were introduced to the homes. The brokers knew in advance that I would not consider lowball offers.
For example, If I were selling a property that I knew to be fairly priced at $150,000, I would instruct my broker NOT to present any offers that 1) were more than 5% less than my asking price, 2) sought Seller financing, 3) were contingent upon the sale of the Buyer's home, or 4) didn't include the provision, AS-IS.
I knew that if my broker called to advise that he had an offer for my consideration, I knew that it would be close to my asking price, and something that I should seriously consider.