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2011-02-03 17:51:51
Where did the Customer Service, Good-will and Fidu

 

Where did the Customer Service, Good-will and Fiduciary Duty go in Real Estate

 

Have any of you heard or read this recently when communicating with an agent or reading a MLS listing? I'm frustrated and I bet some of you are as well.............

•·        'Please read this e-mail twice, so you do not miss anything'.   This same agent that put this statement in red on the top of his email to me, forgot to attach the addendum he was sending out for all of the buyers to sign.  I guess he should have read his own email twice before sending out the condescending email.  He then went on further to state....

•·        'Please Do NOT CALL or EMAIL us'.   Tell me how then do we let him know he forgot to attach the addendum when the deadline to sign was only 24 hours away.

•·        Don't call to confirm receipt of an offer, we will contact you.  What if they never receive it or misplace it?  What then?

•·        'NO EXCEPTIONS' 

•·        No photos provided, in direct violation of mls rules.  This is the number one  complaint I get from my clients, that there are no photos or not enough photos. 

•·        No remarks or description of the property provided.  This is the number two complaint.  How much money are you getting to list this house, and you can't even write some remarks about it. Pitiful at best.

•·        Agents who don't describe the house accurately is the number three complaint.  I have seen everything from the wrong number of bedrooms, baths, and garage spaces. Agents stating it has rooms and pools that it doesn't have.  Move in ready, when the house needs complete rehab to make livable. There is nothing worse than taking a buyer out to show a home where they have specific requirements and finding the home you are showing doesn't meet their requirements at all. 

•·        Short Sale agents having their sellers accept multiple offers when contract law states that they can only legally accept one offer. 

•·        Agents requiring buyers sign a company addendum full of incorrect information, making buyers  give up their rights, just to be able to submit an offer. NO EXCEPTIONS.  One company in particular was confronted on this by me and the broker agreed with my interpretation of his addendum then went on to say they have to use because so many agents don't know what they are doing.  So let me get this right, they require an addendum full of misstatements of truth and outright lies, because of all the agents that don't know what they are doing.

•·        NO FHA/VA offers, even though there is nothing wrong with the house to preclude them. Just an agent not wanting to deal with them. That is not looking out for the sellers best interest.

•·        Short sale/REO listings---Multiple offers received/submitted, NO SHOWINGS..... but agent still leaves the listing as active, in violation of MLS rules and makes hardworking buyer's agents research the property, then tell their clients that the home can't be shown and is not available to buy.

•·        NO SHOWINGS.... broker leaves the listing as active.  This also requires hardworking agents to look up the listing and then tell their buyers it is not available to be shown.  These listings could be temporarily withdrawn, as I have done with mine, but when I recommended this to a broker today his response was 'Thanks for your advice.'  Then left it active.

•·        Another violation just viewed on the mls today was... Offer accepted, looking for backups.  This is a regular sale and should have been changed to pending.  MLS violation and another agent wasting buyer's agents and their client's time.

•·        Must Provide 'Credit report, FICO Scores, Pre-Approval Letter from a specific lender and loan officer, verification of funds, copy of earnest money check, and the buyer's first born son'. 

•·        Ok, so I added the first born son, but I am sure with the way things are going that will be a requirement to submit an offer on a bank owned home soon. 

•·        Almost understandable, yet still time-wasting and frustrating with REO's, now some of my 'Peers' are requiring the same documentation just to submit an offer on a short sale listing.  Worse some of these agents are requiring that their in-house mortgage broker be the one you pre-approve with.  This is required even if the buyer already has a direct lender approval.  NO EXCEPTIONS.  I wonder did the seller request that, or was it the broker's greed to require that? 

•·        Funny, I have been selling real estate for 13 years, and have never requested any of that information, other than a pre-approval letter.  All my short sales and regular sales have gone through without any problems.

•·        Then there are the agents who don't answer their phones with voice mail messages that state don't leave a message.

•·        The agents who don't return phone calls promptly, or worse never return them.

•·        The agents that state you must email for quicker response and then don't respond to your email.

•·        The agents that state their listing is on lockbox and when you arrive to show the property to a client there is no lockbox.  Of course, this would also be an agent that doesn't answer his phone and has a message that states he only returns phone calls between 9-10am and it is currently noon.  By the way, that was 3 days ago, and he still has not called me back to tell me where the lockbox is located.  I guess we take that house off the list to buy.  Too bad for the seller that needs to sell.

•·        The agents that advertise listings on Craigslist and other sites that are already Pending sale or already Sold. 

I spend hours a day researching properties my clients like only to tell them that the property can't be shown, has an accepted offer or is already sold.

Just yesterday I researched 104 properties meeting a client's requirements and found 54 of them to be in violation of mls rules.  50% that is unbelievable and a disgrace.

I don't know about you, but I truly can't wait for the REO/short sale business to dry up, so we can all go back to respecting one another again, being nice to each other, and cooperating with each other again.  Of course, some of us have never stopped and are sickened by the repulsive behavior we see poisoning our ranks and destroying the REALTOR® reputation. 

Some of us never say 'don't call or email'.  Some of us are client centric, are not money driven, don't take on more work than we can handle responsibly and can respond quickly to emails. 

 Some of us actually put our clients first, answer our phones, and return phone calls, no matter how busy we are or how late we have to work.  Some of us are well respected, work on referral and will still be in business regardless of what the market brings us next......... 

 Some of out there actually remember our Fiduciary Duty......you know, duty of utmost care, integrity, honesty and loyalty...reasonable skill and care...honest and fair dealing....good faith.......Some of us take that duty seriously......I wish more agents and brokers did, as well.

 Naturally, we will all remember how we were treated by our 'peers' and the companies that hire and fire them, during this difficult time.  How will you be remembered?  Not sure?  I would ask some of your peers?  And I don't mean other big Short Sale/REO agents..........Most, but not all, have burned their bridges and will be out of business when the market turns........Your true peers are very frustrated with what is happening in our profession and we are starting to ............(you fill in the blank). 

 
Blog Archive
2011-02-03 17:51:51
Where did the Customer Service, Good-will and Fidu


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