I am a Realtor in the State of Arizona. Sadly, this rings true for me and most of the other agents I have talked to lately.
Comment by talli2009
2009-11-2 5:00:37
Ha ha! This is soooo true in the Atlanta area especially the “arrogant” part. Has anybody sent this to freddie and Fannie?
Comment by shweamel
2009-11-2 5:00:37
Well its not just REO’s. Im seeing multiple offers on all my short sales here in CA.
Comment by sutoritoenzeru
2009-11-3 5:00:37
This is so true from stories my sister tells me from the REO office she works in.
Comment by Luxusfrau
2009-11-3 5:00:37
This is so true! Great video! Now I can laugh about it, because I just closed on a bank-owned property. That’s exactly how the procedure is. Scary!!!
Comment by L0WPR0
2009-11-4 5:00:37
ha<ha any one trying to buy a home in these times knows how tru this video is FHA,VA good luck and what the hell every REO u need to cross qual….highest and best!!!! get the hell out of here with that sh!t
Comment by scooter61508
2009-11-4 5:00:37
Sounds like the majority of REO properties in the greater Phoenix area. Yesterday I visited a listing on the first day and the line of prospective buyers with agent was in place when I arrived and there were others waiting as we exited. Then my buyer suggested he would be willing to make an offer at 20% under list!!!
Comment by monicabeach
2009-11-4 5:00:37
Way too ttrue life. Scary and sad.
Comment by tophercub
2009-11-4 5:00:37
I’d start naming names and pointing fingers. But that would be a violation of my REALTOR Code of Ethics. Most short sales prices are being thrown out there just to see if they’d stick. I saw a property listed on the MLS for $1 and called the agent on it. He said that the price was only to spark interest.
Comment by ronbellrealtor
2009-11-5 5:00:37
It is an absolute mess how these homes can be sold with no regard to ethics or the laws. Why on earth the banks dump 100s of listings on overworked agents who just stumbled upon them because they did some BPOs for them is beyond me. The irony is that us taxpayers bailed these banks out that are not diversifying and driving down prices and the tax base.
Comment by avosky
2009-11-7 5:00:37
Buyers who think they can simply get their offer accepted by offering the full price listed on MLS is stuck in 2008. Sadly, many buyers think it’s a buyer’s market when the market is not in their favor at all! Work with a buyer’s agent who is willing to work hard for you is definitely the key!
Comment by firefighter4261
2009-11-9 5:00:37
LOL bid 20000 over on 4 homes and they all sold cash to investors!
Comment by UNG8INSIDEWATCH
2009-11-10 5:00:37
This is the truth, I know this agent. He has made millions in the last year and a half. He is a machine processing cash only offers from a list of investors as long as the Rio Grande. I know another who has 1.2 billion in investor money (2 investors) with orders to buy hundreds of homes in bulk if possible. The listing prices are just plain ink. In fact in So.Cal they have dropped that rouge since there are no homes available to real people who really want a home. I am in a related business.
Comment by UNG8INSIDEWATCH
2009-11-10 5:00:37
You arrogant, snide, b—ch. You are obviously one of the preffered agents who has (somehow worked? gag!) her way into the good graces of an asset manager or six. I know so many diligent good agents who work thier a-s off and get nowhere while things like you have an inside track and get everything through. Don’t get on here acting like you’re superior, you’re an as-. Sorry for the cursing everyone but this is the blue robot in the flesh. All of us who are in lending know what she is. Sickening
Comment by Jets0111
2009-11-15 5:00:37
This is a self-serving video which does have a basis in fact for most agents, The truth is that a few people have learned the system and know how to play it. These peole then are perceived as ones who makes the lenders’ jobs easier, so they get calls on more deals. Buyers need to find CDPE certified agents who are trained to go through the process. Too many properties are being listed by agents claiming to be “specialists” and they do not even know who the lender is!
Comment by MizzezJaxon
2009-11-16 5:00:37
Poor guy.
Comment by mytube2u
2010-01-31 5:00:37
In the last 6 months I have put in about 18 offers on bank owned homes, I have offered the banks there asking price, and everyone of them came back saying a offer came in before me, some of the homes have been on the market for over a year, some 15 days, and others 180 days, I think the banks are just playing,
Comment by jotacril
2010-02-1 5:00:37
can robots make love?
the answer is here:
watch?v=sKrai1dQmgw
Comment by Benatalpha
2010-02-14 5:00:37
I love this video, this a very good characture of the all cash investing world.
I would challenge this agent to make another one this good, maybe with a “green” rehabber…
Comment by sandic6
2010-02-22 5:00:37
Same here
Comment by sandic6
2010-02-22 5:00:37
I Agree
Comment by BankOwnedProperty
2010-03-21 5:00:37
funny, but not totally true..sometimes properties will be underpriced, sometimes overpriced, key is to work with a buyer’s agent that is on your side and can do the proper market research to give you a good idea of what it will actually take to win the offer. You are competing with others who do that, so if you don’t do that you will likely lose, possibly overpay.
Comment by BankOwnedProperty
2010-03-21 5:00:37
Some people just base their offer on the list price, and not on market research. If it is priced $40K too high then putting an offer in 20K below, you are overpaying by $20K, if it is priced $40K too low, then putting an offer in $20K above list, you are getting a deal. Also if a property is not move in ready, then it’ll likely sell for cash, or rehab loan only, because it won’t qualify for financing.
Comment by BankOwnedProperty
2010-03-21 5:00:37
oh this isn’t my normal youtube ID…I forgot I even set this up..hah..yes I do work in the business obviously.
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2009-11-1 5:00:37
I am a Realtor in the State of Arizona. Sadly, this rings true for me and most of the other agents I have talked to lately.
2009-11-2 5:00:37
Ha ha! This is soooo true in the Atlanta area especially the “arrogant” part. Has anybody sent this to freddie and Fannie?
2009-11-2 5:00:37
Well its not just REO’s. Im seeing multiple offers on all my short sales here in CA.
2009-11-3 5:00:37
This is so true from stories my sister tells me from the REO office she works in.
2009-11-3 5:00:37
This is so true! Great video! Now I can laugh about it, because I just closed on a bank-owned property. That’s exactly how the procedure is. Scary!!!
2009-11-4 5:00:37
ha<ha any one trying to buy a home in these times knows how tru this video is FHA,VA good luck and what the hell every REO u need to cross qual….highest and best!!!! get the hell out of here with that sh!t
2009-11-4 5:00:37
Sounds like the majority of REO properties in the greater Phoenix area. Yesterday I visited a listing on the first day and the line of prospective buyers with agent was in place when I arrived and there were others waiting as we exited. Then my buyer suggested he would be willing to make an offer at 20% under list!!!
2009-11-4 5:00:37
Way too ttrue life. Scary and sad.
2009-11-4 5:00:37
I’d start naming names and pointing fingers. But that would be a violation of my REALTOR Code of Ethics. Most short sales prices are being thrown out there just to see if they’d stick. I saw a property listed on the MLS for $1 and called the agent on it. He said that the price was only to spark interest.
2009-11-5 5:00:37
It is an absolute mess how these homes can be sold with no regard to ethics or the laws. Why on earth the banks dump 100s of listings on overworked agents who just stumbled upon them because they did some BPOs for them is beyond me. The irony is that us taxpayers bailed these banks out that are not diversifying and driving down prices and the tax base.
2009-11-7 5:00:37
Buyers who think they can simply get their offer accepted by offering the full price listed on MLS is stuck in 2008. Sadly, many buyers think it’s a buyer’s market when the market is not in their favor at all! Work with a buyer’s agent who is willing to work hard for you is definitely the key!
2009-11-9 5:00:37
LOL bid 20000 over on 4 homes and they all sold cash to investors!
2009-11-10 5:00:37
This is the truth, I know this agent. He has made millions in the last year and a half. He is a machine processing cash only offers from a list of investors as long as the Rio Grande. I know another who has 1.2 billion in investor money (2 investors) with orders to buy hundreds of homes in bulk if possible. The listing prices are just plain ink. In fact in So.Cal they have dropped that rouge since there are no homes available to real people who really want a home. I am in a related business.
2009-11-10 5:00:37
You arrogant, snide, b—ch. You are obviously one of the preffered agents who has (somehow worked? gag!) her way into the good graces of an asset manager or six. I know so many diligent good agents who work thier a-s off and get nowhere while things like you have an inside track and get everything through. Don’t get on here acting like you’re superior, you’re an as-. Sorry for the cursing everyone but this is the blue robot in the flesh. All of us who are in lending know what she is. Sickening
2009-11-15 5:00:37
This is a self-serving video which does have a basis in fact for most agents, The truth is that a few people have learned the system and know how to play it. These peole then are perceived as ones who makes the lenders’ jobs easier, so they get calls on more deals. Buyers need to find CDPE certified agents who are trained to go through the process. Too many properties are being listed by agents claiming to be “specialists” and they do not even know who the lender is!
2009-11-16 5:00:37
Poor guy.
2010-01-31 5:00:37
In the last 6 months I have put in about 18 offers on bank owned homes, I have offered the banks there asking price, and everyone of them came back saying a offer came in before me, some of the homes have been on the market for over a year, some 15 days, and others 180 days, I think the banks are just playing,
2010-02-1 5:00:37
can robots make love?
the answer is here:
watch?v=sKrai1dQmgw
2010-02-14 5:00:37
I love this video, this a very good characture of the all cash investing world.
I would challenge this agent to make another one this good, maybe with a “green” rehabber…
2010-02-22 5:00:37
Same here
2010-02-22 5:00:37
I Agree
2010-03-21 5:00:37
funny, but not totally true..sometimes properties will be underpriced, sometimes overpriced, key is to work with a buyer’s agent that is on your side and can do the proper market research to give you a good idea of what it will actually take to win the offer. You are competing with others who do that, so if you don’t do that you will likely lose, possibly overpay.
2010-03-21 5:00:37
Some people just base their offer on the list price, and not on market research. If it is priced $40K too high then putting an offer in 20K below, you are overpaying by $20K, if it is priced $40K too low, then putting an offer in $20K above list, you are getting a deal. Also if a property is not move in ready, then it’ll likely sell for cash, or rehab loan only, because it won’t qualify for financing.
2010-03-21 5:00:37
oh this isn’t my normal youtube ID…I forgot I even set this up..hah..yes I do work in the business obviously.
2010-05-17 5:00:37
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