I want a realtor who IS NOT afraid of Short sales or forclosure sales (Phoenix: real estate, foreclosures) - Arizona (AZ) - City-Data Forum

Foreverking · 12-03-2009, 06:07 PM

Im looking at homes and the homes in my range are short sales and forclosures. I cant even get these lazy realtors in Gilbert to show me a home without a 10 minute lecture on how they wont be able to close the deal. Send me a private message if you think you are an expert in this type of sale, Im looking in Gilbert, so knowing the local market is very desireable. Im bummed, I wanted to look at some homes tonight and my wife said that no one would want to show us any. I thought for sure someone would want to make a customer tonight, but alas I lost the bet and we had no takers. So I sit here, looking longingly at beautiful homes and NO ONE will turn the darn combo so I can get in to look

fcorrales80 · 12-03-2009, 06:14 PM

Quote:

Originally Posted by Foreverking

Im looking at homes and the homes in my range are short sales and forclosures. I cant even get these lazy realtors in Gilbert to show me a home without a 10 minute lecture on how they wont be able to close the deal. Send me a private message if you think you are an expert in this type of sale, Im looking in Gilbert, so knowing the local market is very desireable. Im bummed, I wanted to look at some homes tonight and my wife said that no one would want to show us any. I thought for sure someone would want to make a customer tonight, but alas I lost the bet and we had no takers. So I sit here, looking longingly at beautiful homes and NO ONE will turn the darn combo so I can get in to look

John Hall and Associates (maybe):

Greater Phoenix Real Estate Brokers - John Hall & Associates - Phoenix, Arizona Real Estate

Rick Lee · 12-03-2009, 09:19 PM

I'm on my third accepted short sale offer and our agent has sworn he's done with short sales after us. If everyone involved is honest and knows what they're doing (VERY unlikely), you're still in for a long battle. The one we just had accepted yesterday is owned by an agent who doesn't want to deal with it, used a listing agent who "specializes" in short sales and now it turns out that listing agent is using a third party negotiator. Who wants to put up with this BS?

cmist · 12-03-2009, 11:55 PM

Realtors actually work to LOSE money in a market like this. First off, they don't know if you are going to buy anything at all, and secondly, even if you do, the odds are stacked against making any kind of sale because of the way the bank handles the offers. They don't take it off the market when you make an offer, its left open and available for an undetermined amount of time where others are free to outbid you and kick you out of the deal.

Many times short sales are put on the market with the bank telling the listing agent to get an offer and then come back to them. Once an offer is received, they start the "approval" process, and it may not even be approved at all. You may receive a ridiculous counter offer nowhere near the list price since the price wasn't set by the bank to begin with.

So after a Realtor invests all that energy and time, gas money, and all the future committment involved with tracking down elusive banks and keeping someone abreast of the outcome, they could actually be working to LOSE money. Its a horrible business to be in right now. Unfortunately, you are going to do best with a hungry newbie that is clueless, bright eyed and bushy tailed. That is until you get done with them

I think realtors should continue to avoid short sales and let those homes stagnate so the banks have to revise their policies on accepting offers. Then it could be a win-win for everyone. Currently, they are still screwing the public in the same way that got us in this mess in the first place. I guess this is what happens when you are "too big to fail".

armx · 12-20-2009, 04:15 PM

Op just doesn't realize that the "operative word" in his post is customer ... if you are only looking at the short sale or forecolosure homes you are just wasting the realtor's time ...and in the current market conditions s/he is better off looking for a real customer who is ready, able and willing to buy - not just wanting to steal a deal and has a lot of time to waste.

azriverfan. · 12-20-2009, 05:27 PM

Quote:

Originally Posted by armx

Op just doesn't realize that the "operative word" in his post is customer ... if you are only looking at the short sale or forecolosure homes you are just wasting the realtor's time ...and in the current market conditions s/he is better off looking for a real customer who is ready, able and willing to buy - not just wanting to steal a deal and has a lot of time to waste.

So he is not a "real customer" if he is only interested in short sales and foreclosures??? I know many physicians who are only intersted in short sales and one just bought one for well over a million dollars and the others are looking for similar deals in the same price range but I guess they aren't real customers right?

cmist · 12-20-2009, 05:46 PM

Quote:

Originally Posted by azriverfan.

So he is not a "real customer" if he is only interested in short sales and foreclosures??? I know many physicians who are only intersted in short sales and foreclosures and one just bought one for over a million dollars and the others are looking for similar deals in the same price range but I guess they aren't real customers right?

I can add to this since my brother is a realtor...

Experienced realtors have to screen their clients carefully. If this is how you make your living, you can't be out on the road wasting time, and making yourself unavailable for more serious endeavors.

Investor types are the worst possible client. They tend to be know it alls that actually know nothing. Even when you tell them its a great buy, they will ruin the deal by pushing too hard and letting their egos get in the way.

There are certain buzz words that I know will cause my brother to completely avoid meeting them, while other situations are like money in the bank. Wise realtors that do well financially know who to let go, and who to work.

It has nothing to do with price range.....

Think of these 2 scenarios...

Scenario 1: Average Person calls and says, "I have been transferred to Phoenix, I am prequalified up to $350k and I MUST close by the end of the month. I need to make a decision by the end of the week."

Scenario 2: Physician calls and says "Hello, I'm Dr. Moneybags, I hear there are some great buys out there. I'm only interested in short sales though. I am willing to spend $1,000,000+ BUT, I will only spend that much if its actually worth $3,000,000."

Scenario 1 is money in the bank while #2 is a situation that sounds risky and time consuming. People in higher price ranges have ALOT more options, can be ALOT pickier, and often are holding out for something that doesn't exist. You wouldn't want to be putzing around with Dr. Moneybags and be forced to turn down the first scenario.

The person in the original post had trouble because experienced realtors probably guessed he just got a bug up his butt to see homes for the day, if a person is serious, they have a loan ready and want a "home". NOT a short sale ONLY.

Ritchie_az · 12-20-2009, 06:01 PM

But foreclosed homes shouldn't be much of a problem. I purchased a nice foreclosed home in excellent condition in a great neighborhood without any hassles whatsoever. Actually, the bank I got the loan from gave me a little trouble (I think they forgot about my loan paperwork, and closing got delayed because of it), but the bank that owned the home very willingly worked with me.
Good luck!

cmist · 12-20-2009, 06:16 PM

Quote:

Originally Posted by Ritchie_az

But foreclosed homes shouldn't be much of a problem. I purchased a nice foreclosed home in excellent condition in a great neighborhood without any hassles whatsoever. Actually, the bank I got the loan from gave me a little trouble (I think they forgot about my loan paperwork, and closing got delayed because of it), but the bank that owned the home very willingly worked with me.
Good luck!

True, when a person approaches an agent looking for a "home", they will show you all the options and advise you on how they all work.

When they approach with the idea that they will consider nothing other than a short sale, it becomes obvious that they have plenty of time, and the actual "need" to find something anytime soon isn't there.

azriverfan. · 12-20-2009, 08:31 PM

I can respect that. I don't want to work with a realtor who doesn't want to work with me. I just know there are enough realtors that would be more than happy to represent people who are interested in short sales. It takes some initiative and phone calls but you can find agents willing to do this.