4/8/2007
Have you ever gotten so pissed off that you broke out in hives?? Anyone?
It's only happened to me once before, a long, long, time ago. And then, today, it happened again.
I was supposed to have 2 closings this week (both REOs)- one Thursday, and one Friday. Both of them are not happening now because of the stupid, lazy, worthless, incompetent, listing agents.
I am trying to get extensions on the contracts, but who knows what will happen. It's like a crap shoot with these idiots.
I have never, in my entire life, witnessed such incompetence and laziness. Never.
I will write more about it later, but just to give you a taste of what I'm dealing with-I put one of the properties under contract 3 weeks ago. It's supposed to close on Thursday of this week. I called the title agent today to see if I could get the HUD. She told me the listing agent sent her the contract YESTERDAY, and they need 7-10 days to complete the lien search . Are you fucking kidding me???? How do you just hang onto a contract for three weeks? WTF?
So, I immediately called the listing agent (who, of course, didn't answer) to find out why in the hell it took her 3 fucking weeks (I did not drop the f-bomb in the message, btw, although I really, really, wanted to) , to get the contract to the title co. I left her the message at 1pm today, and still haven't heard back from her.
I don't have the energy to explain what is going on with the other deal. I'll just say that it has been a complete nightmare thus far . I just signed the FIFTH contract on this property today because the agent has his HEAD UP HIS ASS. It was supposed to close this Friday, and my buyer is ready to go, but it ain't gonna happen because the listing agent is a complete hack job.
Even though I probably have another bleeding ulcer now, I did learn a valuable lesson about dealing with REOs........ Never, ever, ever, ever, ever, assume that the listing agent is doing their job, because 9 times out of ten, they aren't, and you need to take matters into your own hands if you want to get anything closed.
Signed,
Frustrated
Excuse Me, Please, While I Go Postal....
Tuesday, April 8, 2008
Excuse Me, Please, While I Go Postal....
Posted by
Steph
at
8:57:00 PM
Labels: da, flip reo, flip reos, flipping houses, flipping reos, getting started in real estate, House Flipping, how to flip houses, learn to flip houses, learn to wholesale, mls, real estate investing, realtor, reo flipping, reo investing, wholesaling, wholesaling houses, Wholesaling REOs
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10 comments:
Steph, chiiiiilllllllll.......
Nothing ever goes according to plan in this business. Steve always says stay in control of the deal, and it sounds like you are trying to. If I were you, I would use the "broken record" technique. If someone doesn't call you back, or doesn't answer you, simply pester them, call them all the time, ask them the same question, but do it in a nice way. If you get mad at them, they may be even less likely to call you back. But if you are nice, sweet Steph, just 100 times per day, they might take action just to get you to shut up.
I hope you get these 2 closed!
Hey Tim,
I've learned my lesson. From this point forward, I am in contact with the title co the day the contract is signed.
I should have known better .
Steph
Hey Steph...
Im so shocked by this...
In todays market you would think these agents would get stuff done as quick as possible so they get paid quicker...
I guess they arent hurting for money as bad as we all think huh?
LOL
Ed (Upstate NY)
Dear Frustrated,
Welcome to the non-glorious world of real estate. Unfortunately competency is not a required to play.
I agree with Ed: you would think Agents would be all over this.
You have the right idea. Being in constant contact is the best way to ensure everyone does their job in a timely fashion.
That's absurd....Tim is a lot nicer of a guy than I am..:)
That's what I've always admired about you Steph... YOUR FIRE!!
I have also learned over the last few years that nobody is going to do what you want them to do in the time that you want them to do it.
Foot in ass = results :) Go get em tiger!
Steph - every deal I've done I ALWAYS ride the shit out of the loan officer if theres financing and the realtor if they're involved.
I tell them both right upfront, I will be calling alot so don;t try and hide from me. If theres problems I want to know NOW, not later. "I can handle the Truth"...,
I often say.
I also assume the people I'm dealing with are IDIOTS - this makes me alert to any small events occurring in the deal.
It sounds like you ran into real realtor incompetence. It's crazy, because most of them are starving in this market, yet they can;t even deliver a simple contract.
I like your strategy, Bruce- "I also assume the people I'm dealing with are IDIOTS."
Seems like a strategy that would work well for me, since, I am indeed, working with idiots. Incompetent, lazy, idiots....
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