I’m going to set the stage for you on this one. Imagine that you are getting to buy a new car. I think we can all agree that it is a pretty big investment. So let me ask you this. If you walked into the dealership and no one talked to you would you give them your business?
I don’t mean that they just ignored you, I mean they actually had a sign that said put your check in the slot, and we’ll let you know if we’ll sell you the car. Now go home and we’ll get back to you…maybe..and by the way..DON’T EVER CALL TO FOLLOW UP! And lastly, pay me $400.00 for the privilege of being treated like a piece of crap.
Would you do business with that dealership? Would anyone you know do business like that? Makes you wonder if the manufacturer knows that this dealership is treating potential customers like that. Well you think this is another rant I’m on or just making things up? Nope…
You see this is how many Realtors are doing business and then everyone wonders about the state of the housing industry. Hey Lawrence Yun, Hey Vicki Cox Golder…why aren’t you people doing anything about this. It’s not like you can’t find this nonsense going on. It’s not being hidden. It’s being PUBLISHED!
So let me show you what I mean. We just so happened to have a reader who was interested in buying a foreclosure down in Fort Lauderdale and upon submitting an all cash offer to buy this dump from US Bank, the Keller Williams hot shot agent fired back this doozy of a document.
I’ll show you it here as I break it down but the pdf can actually be seen here.
The letter begins with the lovely preamble that says:
“The Hearing Group would like to thank you for your offer on our listing. In order to provide the best possible process for our Sellers to consider all offers, these rules and guidelines must be followed or the offer WILL NOT be presented to them.”
Ok, so either we do as you say or you won’t even present the offer. Hmmm…wonder if US Bank knows this. Hopefully, if they have any kind of social media presence, they do now!
Then we have this gem:
“Escrow must be held at Keller Williams Real Estate Professionals. Contract addenda won’t be effective UNTIL verification by Sellers that escrow has been made AND is held by their agent. PLEASE BE CLEAR ABOUT THIS STEP-NO OTHER ESCROW AGENT COUNTS-ONLY KELLER WILLIAMS”.
So let me get this straight, somehow the good people over at Keller Williams have some kind of super fiduciary powers wherein no other attorney or title company just does not “count”. All other attorneys and title companies are inferior and can not be entrusted to hold a check. Only Keller Williams has that supreme power.
I know this for sure, we buy cash and the last person I want in control of our funds is some hack that I have to chase down if the deal goes south. I advise all of our clients to NEVER let the listing agent hold the deposit. If you want to know why..then you’d have to take our Buyer’s class.
But wait..it gets better, check out this pithy comment:
“We will notify you via email that we have received your offer. If you don’t receive a notification from us during the business week within 2 days of receipt (* Sellers do not process offers over the weekend) then resend the offer. If something is missing from your packet, we will email you and let you know. DO NOT CALL TO FOLLOW UP ON OFFERS!!!! If your offer is accepted, you will be notified. “
Huh?? Do not call to follow up??? Are you friggin kidding me??? I’m putting in a cash offer here and actually running a BUSINESS. I’m not playing house or doing this on a break from my shift at Red Lobster! I’m running a business and I’m telling you that I am prepared to buy a product that you are selling and you are seriously telling me to bug off and don’t bother me!
You’re not even willing to confirm receipt of the offer…just “resend” it if you don’t get a notification? This can’t be real people. This is insanity!
What if I went ahead and played your silly game and decided to withdraw the offer and want my deposit back? (Now you see what I was talking about above?) You’re not even going to pick up the phone?
Well I think you see the point here. If you want to read the read the rest of the document you can. Bottomline here is that there is so much tomfoolery going on in the real estate business and no one wants to do anything about it. Not the NAR, not the big brokerages and not the local offices. There is no policing of the industry and absolutely no uniformity.
If the banks know about this then they are complicit in it as well. Hey we all know that there are some very good agents out there. Buy like we call on the good Muslims to speak out about the bad apples in their ranks, we need to call on Realtors to expose the stank in the real estate business as well.
There is always so much talk about how bad the banks are and how Bank of America is such a big problem to work with. We see threads on major forums about this problem and that problem…but how about some inward looking. Look around your office. Look at that agent you are playing nice with on Twitter and if they are stinking up the joint with the kind of garbage this Keller Williams outfit is spewing then do something about it.
Call a conference, convene a town hall meeting, summon Obama to the rescue..do something. To idly sit by while so many agents are conducting “business” like this makes you look bad by your association.
Most people already have a bad view of Realtors, you can change this perspective if you actually want to. But that’s the problem. Nobody seems to give a hoot.
Until then we’ll continue to see agents whine about the state of the industry and how they aren’t making any money and how it’s always someone else’s fault.
I know there are some very ready willing and able buyers out there who want to pull the trigger on deals but don’t want to deal with sub par agents with insane rules. Remember, in the Keller Williams document they actually called them “rules”
Listen KW agent, I’m not on recess, I don’t need you to give me any rules, and I don’t and won’t ever pay you $400 to treat me like a piece of excrement.
FYI, we tried to call the Keller Williams office for a statement on this document they published BEFORE we wrote this article…but you guessed it. The voice mail said they don’t take calls.
So here ya go!
UPDATE: We’re going to be speaking with Dennis Hearing, the subject of this article and you’ll be able to hear his side of the story and we’ll also get his perspective on the REO market and how he sees things going moving forward. We’ll be posting it on Friday.
Case-Shiller Shows Housing Prices Stabilizing … For Now Seeking Alpha (blog), on Tue, 23 Feb 2010 23:39:21 -0800 The total balance of seriously delinquent loans reached well over $400bn through November 2009, while the balance of REO properties reached its peak in …
Home prices rise, but supply is low Glendale News Press, on Tue, 23 Feb 2010 22:30:10 -0800…foreclosed properties, the effect will likely be challenging for homeowners, said Keith Sorem, a Glendale-based agent for Keller Williams Real Estate. …
Home prices up, but supply down Burbank Leader, on Tue, 23 Feb 2010 22:08:03 -0800…foreclosed properties, the effect will likely be challenging for homeowners, said Keith Sorem, a Glendale-based agent for Keller Williams Real Estate. …
Your experience with Keller/Williams is par for the course in my experiences. Most of the agents working REOs use the same tactics and it’s infuriating. The worst part of it explaining to my buyers why I don’t have any details on his/her offer. There are some good REO agents that actually take calls and have normal conversations with you, but most seem to act as if you are just thorn in their side.
The requirements these agents are making people jump through are ridiculous. I actually had one agent tell me that my buyer beat out higher offers because I was the only agent to follow instructions and fill out all the addenda correctly. My buyer’s offer was lower than two others, but their agents did not follow the directions. That doesn’t sound like the agent was representing his client the way he should have been.
And you wonder what is wrong with the real estate markets. That is why you are going to see major transitions towards online sales and auctions of real estate properties and pre foreclosure notes. the consumer wants a seamless and easy method for making these transactions, and the internet is moving quickly in that direction. One stop from beginning to end. Seamless and with all the help you need to make the deal happen.
Amen to your article Barry and here’s a kicker…I know this agent and I met him at your short sale training a few years back!!! That’s irony…
He used to be trying to navigate short sales and I think he’s a good guy, but like many of the other REO agents they just do bad business and I’m SOOO tired of all these attachments and disclosures you need to send BEFORE you even get your offer accepted. Such a waste…
Brad thanks for the comment…and yes, it is absolutely ridiculous!
@prop…I can’t wait until that day comes. I think we’ll all see a better economy and a much more sensible way of moving properties. Thanks for stopping by!
Dustin..I thought I remembered the name but I wasn’t sure…He may indeed be a good guy. I’m not casting aspersions on anyone personally.
It’s just really bad business that’s getting way too frequent. Thankfully all are not doing this.
Like I said in the post, there are some very good REO agents out there.I bought a duplex today from another REO agent at a local outfit and all it took was the banks’ addendum and a simple as is contract..and guess what…he actually picked up the phone and called me back and was appreciative of the business!
That’s customer service!
First, let me say I understand where you guys are coming from. I myself have represented buyers that wanted to purchase REO properties. In fact most of the time I get nonsensical one word answers that are out of step on the conversation time line.
However, keep in mind the sellers are not dealing with a handful of properties to unload they are dealing with hundreds. They get multiple offers cash deals or financed on the same property 2-3 at a time. They have to have a way to separate and look at the offers. The guidelines that are requested by REO agents for buyers agents to follow is their weed out of offers. It is not a Keller Williams thing or a bad agent its just what the banks that own the property want things run.
Second, what ever happened to the real business people. The ones that do take your calls or emails and respond with clear non ambiguous answers. I am not just talking about an REO deal. I’m speaking about normal buyer seller transactions. Have we forgotten how to handle a individuals highest investment purchase they will ever make? I know I do my best and communicate information in a multitude of ways. I just don’t get why others can’t do at least that minimum.
In short, dealing with an REO deal is a pain in the butt due to the communication break down. Following their rules and guidelines will help make it a smoother experience to make a purchase agreement turn into a closing. Normal buyer & seller deals should be treated with a higher amount of respect. Cause in the end it is these deal that pay your bills and secure a life for your own families.
Darrell R Hess
Keller Williams Realty Signature Partners
http://twitter.com/Darrell_Hess
Darrell, thank you for the reply.
First, let me respond this this comment.. “keep in mind the sellers are not dealing with a handful of properties to unload they are dealing with hundreds. They get multiple offers cash deals or financed on the same property 2-3 at a time.” I bolded the important part. Barry C was not referring to Sellers at all, he was referring to the agent that represents that seller and the agents business practices. Unless you are telling me that the bank’s (seller) guidelines state that agents should not accept calls from BUYERS.
To your second point, I agree wholeheartedly, and if you read this blog often, you will see that the theme of agent business practices are a constant thorn in our sides. I respect all agents that are professional and treat real estate as a business and profession as opposed to a way to make an extra buck without having to work at it.
Thanks again for your comment and let’s do our best to call out the bad apples and praise those that know how to conduct themselves and their businesses professionally.
Hi Barry!
I’d like to start by saying “Thank You, Barry”, and “I’m sorry” if your reader had a bad experience with The Hearing Group.
From day 1 my intent has always been to differentiate The Hearing Group from “all those other REO Guys” that so many buyer’s agents complain about. Our buyer’s agents experience the same challenges and guidelines to submitting an offer as everyone else, many of which I now understand to be good business practices.
In the age of technology and ‘social’ media, which you and Barry have clearly mastered, I’m not sure why agents have issue with communicating via email versus phone, it is quite a bit more effective… We make every attempt to answer calls, however, it is physically impossible to answer every one.
As a seasoned investor you know that The Bank’s REQUIRE escrow to be held 1) by the listing agents escrow or 2) the seller’s title company…these are not OUR rules, in fact, are part of our LISTING AGREEMENT and The Bank Addenda, nothing new here, nothing that WE invented…pretty STANDARD for the REO industry.
I agree with you, the wording “…no other escrow…”, needs to be removed, poor choice of words, but you might be surprised how many people want to argue this point. It is black and white, escrow with the 1 of the 2 choices or no deal, again, this IS coming from the seller, not us. And actually, return of escrow is much easier and faster when Keller Williams holds escrow compared to when the seller’s title holds escrow, that is the main reason we encourage it.
I am happy to announce that one of our major improvements is an online offer entry system from ebrokerhouse. However, it does require an agent to know how to upload a .pdf document, I’m sure there will be issues with that… AND, of course, as before, we will still REQUIRE those pesky addenda and PROOF of funds, PRIOR to submitting any offers to the banks. Again, not OUR rules/guidelines, but REQUIRED by the banks and stipulated in our listing agreements with them. But, you know that.
I’d love to check out one of your buyer classes. I would encourage buyer’s agents to properly prepare themselves and their buyer’s for the process of buying an REO property, it is slightly different than dealing directly with the homeowner, it just is. Not sure if your class covers that or is just geared to the investor buyer…
You guys are certainly entertaining and very knowledgeable. I did get great tips on the short sale process 3 years ago. Thank You! One nugget I did not choose to do though was the bit about taking over deeds from homeowners in distress. I understood where you were coming from but just didn’t feel right to me. But, of course, that is why you make the BIG bucks and I don’t!!
Sincerely,
Dennis Hearing
The Hearing Group
Keller Williams Realty
Cell: 954-648-4949
Hi Dennis and thanks for your comment. (I wasn’t going to mention your name in the article)
I have to make a quick acknowledgement myself..you are right..in this age of technology working via email should be easy and should be the norm. But it requires timely responses. In this liquidation culture when deals are moving so fast a delay of a few hours or a day could mean the loss of considerable profit. So I agree that if everyone is timely in their responses, then working via email is indeed more convenient.
However..I have to vehemently disagree with your statement that “As a seasoned investor you know that The Bank’s REQUIRE escrow to be held 1) by the listing agents escrow or 2) the seller’s title company”…that siply is nOT a universal requirement. We have bought many properties wherein that is not a pre-requisite.
I, and most investors have no problem with the proof of funds being required. It actually thins the herd, I just did not like the somewhat condescending way in which it was worded. But heck..maybe that was just me.
Since this article was posted I have heard from a number of agents who have expressed concern with how the REO process is handled. So maybe perhaps there can be some work done to educate the banks and other listing agents as to how to facilitate sales rather than impeding them with nonsensical guidlines.
Our buyer’s class that we are going to resume is geared for investors but is worthwhile for agents to take a look at as well. If for nothing else to see exactly how the professional buyer works.
The foreclosure mess is going to be here for quite a while and those agents like you who have educated themselves to the process will succeed and profit handsomely while those who resist will flounder.
I need to contact you because I am actually interested myself in a listing that you have. Let’s work out the details and make it happen.
Hi Barry,
I don’t mind my name and phone being out there, I am not a “secret agent”. LOL.
I agree, it is not UNIVERSAL that the banks require escrow to be held with someone that “They” specify, in our case they do, so we do.
Believe me, I’m with you guys and all the other agents that express concern about how the REO process is handled. I too wish that there wouold be a standardization. All we can do is try to better ourselves. Which is why I actually considered the article constructive criticism. I expect us to grow from it.
And I agree, we will be dealing with this situation for quite awhile, most reports indicate longer than originally anticipated.
I look forward to your call.
Did you get my immediate response to your email?
Sincerely,
Dennis Hearing
The Hearing Group
Keller Williams Realty
954-648-4949
“let’s do our best to call out the bad apples and praise those that know how to conduct themselves and their businesses professionally.”
Wow, except that I think you pretty much generalized to the max on the article. Does your headline not read “Does Keller Williams Really Want To Sell This Property?” and does the logo not have under it “Do These Guys Really Want to be in the REO Business”?
I read the articles on this site all the time and was just about to forward another one to some friends, but I think I am going to hold off for the moment…. I am really disappointed to see that you took this one so far and wrapped every Keller Williams office and agent into it. And you are justifying it after a small attempt to contact the one agent you had an issue with? Do you realize that there are more than one Keller Williams office? Because in your article, you instead make it sound like “one bad apple ruins the bunch”… and that all Keller Williams agents are all bad apples. So you might have wanted to re-state that quote I pasted at the top, along with re-writing the whole degrading article. And then, after Bashing his office, you have the audacity to want to talk to him about a listing… I question your character.
I am a semi-novice real estate investor and a very “for my clients” Realtor with KELLER WILLIAMS REALTY and have been eating up the articles on this site… but am left with such a bitter taste right now. I am left questioning your integrity. However, Mr. Hearing gained major points in my opinion by responding at length to your wonderful article.
S.M.
An Agent that “Gives a Hoot”
Santa Rosa, Ca.
Thanks for your comment…but please be advised..Mr. Hearing while saying he would grant interview, never returned any further calls.
If you feel that I was lumping ALL agents and ALL KW agents in the same bag, then you completely misunderstood. What I was saying, and others seemed to understand, was the ridiculous measures and hoops that some (actually lots) of REO agents seem to make REAL buyers jump through. It’s insane. Then they hide behind comments that asset managers make them do it. C’mon, we talk to asset managers all of the time. Not one we have spoken to knew that this insanity was taking place. At least none of them wanted to admit it.
My intefrity should not be an issue. You are never left wondering what we feel and what we think. I give everyone a chance to tell their side of a story and I gave Mr. Hearing the opportunity to vice his story via a published interview. HE chose not to participate. What does that say about character and integrity?
As you state..you are a “semi-novice” investor. To the contrary, I’ve been doing this for almost 2 decades. When you get to the point that I am and hear the BS being spewed by agent after agent, and see first hand in deal after deal the sheer level of incompetence that abounds, then perhaps at that point you will understand much better.
I work with a lot of very good real estate agents. I have worked with hundreds of extremely confident and knowledgeable agents over the years who have taught me much and facilitated my profit generation. So I know and will be the first to shower accolades on the good agents out there.
So if I can do that, you must be able to show your integrity and be honest about the fact that there are so many bad real estate agents that it is a disgrace to those that are indeed professional. Pick up the phone can call 20 listings and tell me how many people actually answer their phones. Email 20 and see how many retrun emails that you receive in the first 2-4 hours. Let’s be real. The lack of integrity lies in the shame of agents who work in offices with sub-par performers who pretend that everything is hunky dory and a-ok. If you want to speak about integrity, be honest and tell me who the stinkers are in your office. I know they are there and so do you.
At least I have the guts to actually call people out for stinking up the joint…and I’m also the first one to give the gold star to those agents who excel.
Lastly, I have to respond to one more thing that you said…that really needs some light shed upon it. You said that I “have the audacity to want to talk to him about a listing”. Audacity? It’s his JOB to speak to buyers about listings. An agent doesn’t have the discretion to ignore a buyer who is inquiring about a listing? That really gets my blood boiling!! Where in ANY listing agreement does it say that an agent doesn’t have to speak with a buyer because they don’t like what is written on a website? Are you kidding me???
Mr. hearing, as do you with your listings, have the written OBLIGATION to speak with an inquiring Buyer on a property and to speak openly and honestly about said listing. I don’t know of any document anywhere that says that a listing agent should only speak to those prospective Buyers who are not audacious. Do you?
This is a problem many agents have and we see it all of the time. I see it so very often especially in short sales. I get the calls from homeowners who need to have their house purchased after a listing expires. I’m the one they call when the agent thought it was a “low-ball offer” and would not present the contract …trust me, I could go on and on..but it’s no use.
You can feel how you want and I hope you can and do continue to read here..why? Because, boldness, rudeness, audacity…whatever adjective you want to use there’s one thing you can absolutely count on. I’ll show you how you can actually make money in this business. That’s who I write for and that’s the audience I desire.
I’m not here to be a cheerleader. We all know that you can find them on ActiveRain and such…I’m looking for people who are actually looking to make money and it’s that audience who finds value and learns from that what gets posted here.
As you grow beyond “semi-novice” investor status you’ll come to understand this and when that time comes, you are most welcome to resume your visitation. I look forward to it and will do whatever it is that I can to help you make money in real estate.
With as bias and closed minded as you presented yourself to be, there is no way I would want to grant you the honor of an interview if I were him either. I am sure he learned from this experience, so I hope there can be one good thing that comes out of your article.
Moving on, nice job trying to dodge the bullet, but you DID lump them all together. Strength in numbers doesn’t work on this one, it doesn’t matter if you Think everyone else “understood”. What you don’t understand, it’s a funny little thing, I actually agree with a lot of what your article was supposedly trying to achieve, making it known that something has got to give and that agents should be held to a more professional standard. However, you lumped all Keller Williams agents into this slanderous article as soon as you chose the headline and the photo and aimed it in Keller Williams Realty‘s direction. It makes you sound closed minded.
You just cannot generalize like that, you lose credibility.
Its like if I had a bad run in with a brown cow… “ALL brown cows are Bad!”… no they aren’t though… do you know how dumb I sound to the farmer?
I agree, REO agents in general tend to take short cuts which can make it extremely difficult on the rest of us, investors, Realtors, and regular buyers alike. That does not mean they (REO agents) are all that way, and does not warrant you making Keller Williams the scapegoat.
You say of asset managers knowing about the hoops buyers are having to jump through “At least none of them wanted to admit it” and yet, who are you jumping on about this?? THEY (asset managers) have the power to stop it, whether they knew before that it was going on or not. Or are you saying they don’t run the show and are incapable of regulating their chosen agents?
Your integrity is an issue because I Was left wondering what you feel and what you think. In one hand, you are saying that this is bad business, but in the other hand, you want to do business with this person??? Wait… what? So you are not so against his behavior as you are ranting about. Did I read that wrong?
Perhaps I will understand more when I am at your level. I say semi-novice investor because I have been doing this for only about 7 years. While investing isn’t my only income, I didn’t start last week. I became a Realtor almost 2 years ago and I will grant you that part of the reason I got my license was because I felt that agents needed to be held to a better standard. I wanted to be able to do my deals myself and be of better assistance to family and friends than many agents are.
I think its interesting that you ask me to spread gossip about agents. Integrity and ratting out your colleagues don’t go together very well. It’s not the same thing and we aren’t in high school.
No, but are You kidding ME? (a little sarcastic).
I’m pretty sure you misread what I wrote. I think it’s funny when you dodge bullets. I said “YOU have the audacity to want to talk to HIM“. I did not bash him for responding, now did I? YOU however, have the discretion do deal with Good business people, or Bad business people, and you are showing the wrong colors by asking to deal with someone you have already dubbed as a Bad business person. In doing so, you have completely contradicted what you were trying to prove. Going after and supporting bad business is the same as being bad business.
I understand your frustration with some agents. I have those same frustrations. That is not the point I am arguing. Be careful what you say, or your whole article gets discredited. I hope you see my point.
“I’m looking for people who are actually looking to make money… That’s who I write for and that’s the audience I desire“.
Strong ending. I admit you’re good. And I do, normally, love your site.
Thanks again for your comment. When you speak about integrity, just remember. It goes to core values. One of those values is observing and respecting dissenting opinion. That is why I publish comments like yours even when they oppose what I write. The end result is that there is spirited discourse and the problem comes to light.
I am not asking anyone to “rat” anyone out. If the truth of the matter is that there are many stinky agents then it’s a fact. To ignore them ..well..there’s where that integrity word shows up again.
I look to beat my competition. Not..I look to squash my competition as they feel the same about me. One of the problems in the real estate busines sis the permeating feeling that we’re all in this together. That…in my opinion, is anti-competitive. I have a heavy sports background. While I was in the fraternity of football players, every weekend it was my JOB and my DESIRE to beat the hell out of the guy in front of me. The way that I improved and succeeded was beating my competition and exploiting their weaknesses.
And that’s how they beat me as well. Sure we could meet and have a beer afterwards and shoot the breeze, but when I strapped up the helmet, it was my imperative to take down my competition..legally and within the rules.
I can see how you might think that I am narrow minded. You see, real estate to me is a commodity to be bought and sold. It’s purely numbers on a sheet. So in that regard, my narrowmindedness has allowed me to succeed. As I have stated many times, like in football, I am in it to win it. I’m not here to be a social worker and make nice with agents or other investors. I am here to help others make money and to network with people who feel the same, and to let others peek into the mindset of pure capitalism.
Some people find value, and some people get turned off. That’s the way things go. I’m not supporting bad business and I’m not enabling bad agents, I’m trying to buy and sell property and when I run across problematic issues that impede my objectives, I look to speak about it and let others know what I am experiencing and what they need to look out for.
In the end, it helps us all prosper and it helps us all know that maybe, just maybe there are some agents who may read this and change the way they do business, because after all, it is for the better of their client. I firmly believe that the service one provides to a prospect directly reflects upon the client.
I look forward to your continued visitation and I truly enjoy your commentary.
Wow! Great Monday morning!
Hey SheMor! YOU ROCK!!
C’mon Barry, you KNOW I called you back! We actually had a very cordial conversation, during which, I AGREED to do your interview! In fact I offered to come to you guys to do it face to face. My only caveats were that I wanted the questions emailed to me in advance and that we could “schedule” the time. Unfortunately, that particular week you were not sure when and where the recording would be, then you called, on like Wednesday at 11 am, and left me a VM asking if I was ready. Unfortunately, that week, I was very very busy working on new hoops for buyer’s to jump through….LOL!
I love the football anology, I played, as a starter, center, nosegaurd, defensive end, etc… And at 150lbs dripping had a blast going against my 250lb competiton! Sure I got beat to hell! Loved it! What I lacked in size I made up for in speed and stamina…
I am guessing that none of the short sale asset managers know much of anything about REO’s at all. However, if you were referring to REO asset managers you were speaking to, not knowing anything about the insanity, it’s not insanity, they DO require certain documentation from buyer’s, and it is THAT information we seek to collect.
We would’nt need to put out a document explaining the process if everyone placing an offer knew exactly what the process was. However, even with the instruction sheet, we get agents sending over cash offers, with no proof of funds, none of the addenda, contracts with the buyer as individual person, bank staements from a corporation, corporation documents without that person appearing anywhere on them. And they EXPECT us to submit that?
Thanks again for the great discourse!
BTW SheMor, if you have any buyer’s looking for property here in South Florida, we will take good care of them, contrary to what Barry may say!
We will try to get that interview scheduled, I’m not avoiding it or you, just not in MY 20%! Later dude!
Hey Dennis..good to hear from you…finally…you did call to schedule the interview..and then never called back when we tried to confirm, but no worries, whenever you’re ready.
And it WAS REO Asset managers, fyi…there’s no such thing as a Short Sale asset manager (pssst…they don’t own the property…just sayin’)
As for selling property, Shemor’s in Cali …you have a Buyer right here. While we may not always agree on price, we do buy, we do close, and we do jump thru the friggin hoops…otherwise there would be no way to conduct business. I just think the hoops are unecessary and BS. But..I will applaud you for the fact that you obviously check your email and it seems we now have an open line of communication. So I guess something good DID come from this article.
So send me your hoop filled listings at info@realestateradiousa.com and let’s see if we can spend time making money instead of going back and forth measuring…umm..swords.
By the way, I used to eat noseguards for lunch!!
Hey Thanks Dennis!
Yeah, no sword measuring there or anything… Barry.
Hmm, I can relate boys… I am also big on sports and I played football too. I’m quick and I hit hard, so I played corner and safety in the IWFL Women’s -the name gave it away didn’t it?- football league. I too am highly competitive and constantly pushing the limits, I just believe that the only way to Really beat your competition is playing within the rules. And in debate, that means using facts, not a hasty generalization.
I’m pretty sure this fits?:
Ad hominem fallacy – attacking a person rather than the argument
It is true that spirited discourse brings the problem to light and that is a great thing. I just think this one in particular was an issue that could have been discussed in a more professional light than dragging the company I work for (in California) into this, over an issue that happened in Florida. Obviously Dennis is not trying to hide out on this one (proving that he does not likely fit the category of a “Slimy agent“). Why Keller Williams Realty gets bashed for what’s going on with REO’s is -again- beyond me, but I feel like I am beating a dead horse on this one and I think you get my drift.
I do hope that there are some agents who may read this and change the way they do business. I do not disagree that is needed.
I value in you both that you are standing up for what you believe. More people should be that way.
One thing I am pretty sure of Dennis, It seems that you will fight for what is right for anyone I send you! Likewise, if you ever have buyers looking in California, you can be assured you have a go-getter to refer them to.
Aaah..now that explains it…the IWFL! My respect has been earned.
Ok..so the title of the article should have been “Does Keller Williams (Fort Lauderdale…because all real estate is local) Really Want To Sell This Property?
My bad. Well how about this olive branch…I’ll stand corrected on location if you agree that shenanigan’s take place on many KW offices…come on..don’t make me break out the old hidden camera and go all Acorn on KW
Barry, you crack me up. You are growing on me.
Then you stand corrected. Of COURSE shenanigans happen in every real estate office. Its not KW, or Coldwell Banker, or Century 21, there are agents of All kinds in Every office. I agreed with your point in that from the beginning. I disagree with KW solely getting the blame, because to round it out, you would also have to mention every other office out there. And I will accept your olive branch if you admit that Mr. Harrington (or his office) isn’t to blame for this entirety!
I will just close by saying that it’s awesome that you are raising awareness about this. Keep up the good work because until it gets solved, you are going to have more hoops to jump through!
I have had the exact same experience with a Dallas Area Realtor.
Greg Graham at Caldwell Banker in De Soto, TX does the exact same thing.
We are expected to – Sign BLANK – Seller addenda and he says the exact same thing regarding the earnest deposit. – ONLY to his office – No one else.
All documents need to be returned in 24 hours – no exceptions.
I have been pre-approved from several hard money lenders and can close quickly.
I carefully analyze these properties that recently are priced at retail, figure rehab, and holding cost and make a fair offer. His office delays the process about 2 – 3 weeks and also conveniently ‘looses’ offers sent in multiple times then. – Suddenly it is a multiple offer situation. Then there are several more documents and ‘submit your highest and best’. These agents say they are trying to only work serious offers. I am running a business and my offer is serious… What don’t they understand.
I was interested in a REO in Weatherford, Texas listed on Zillow with Keller/Williams listed as broker.
E-mailed local contact from K/W from Zillow website, no reply.
E-mailed Dallas K/W office , no reply.
Searched appraisal records and found out place was owned by Wells Fargo.
Called bank and they claim to have no knowledge of property.
Was just trying to find out if property was still available.
I think they are sitting on properties in hopes of a market comeback.
We have had a terrible experience with this company. We have a house for sale and the realtor has been dedicating us to ONE offer that has been made. Other offers have come in but, we were NOT told about them. Indeed we were told this was the only offer. The only way we found out we had any other offers was one person was so interested she finally went around the agent and called us directly. Imagine our surprise after having been almost locked in with another contract to find that we had other offers.
Also, everything the buyer wanted was never counter offered at all. We have been expected to give it all up and we are thinking perhaps this agent knows the buyer personally.
I am furious. We have been lied to repeatedly and when caught our agent says “you misunderstood.” The one person who went around the agent FINALLY after having so many issues with him is very eager and only offered a few thousand less than the buyer we are now locked into. We were never told, never had the chance to counter at all. In fact two more people came forward directly to us this week with the same issue with this agent.
I am livid we have been treated this way and I am making a formal complaint to the Real Estate Board of Oklahoma. DO NOT use Keller Williams if you don’t want to be lied to and told you have only had one offer when in fact you’ve had others. We would have never known about this had the woman not called us.
Disgraceful. And this agent is getting 10,000 commission? PLEASE! He has done nothing but, give us the run around with this one client. In fact he acts more like he’s working for this one buyer than for us. Maybe she should pay him since she had gotten concession after concession and our agent never encouraged us to counter even a tiny bit with her.
Never again. I have sold homes myself in the past and I don’t think you should be allowed to reject an offer from anyone without telling the seller the offer has come in!