Our activities & worksheets can make learning fun.

Tools

Ask a Question
Start a Discussion
Close
Create an Email Alert

Alerts are a great way for you to stay up-to-date on things you care about. We will email you a list of the new items that match your criteria at a time of your choosing.

This alert is for the following:

Topic:
Do REO selling agents prefer buyers with or without ...

How often would you like the alert emailed?

Frequency:

Immediately Daily Weekly
Maximum 20 emails/day

Save

Cancel E-mail alerts
RSS
Send to del.icio.us
Send to StumbleUpon
Print page

Partner Tools

Views: 251
US
State
Nearby States
- Alaska
- Alabama
- Arkansas
- American Samoa
- Arizona
- California
- Colorado
- Connecticut
- Washington D.C.
- Delaware
- Florida
- Georgia
- Guam
- Hawaii
- Iowa
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maryland
- Maine
- Michigan
- Minnesota
- Missouri
- Northern Mariana Islands
- Mississippi
- Montana
- North Carolina
- North Dakota
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- Nevada
- New York
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Puerto Rico
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Virgin Islands
- Vermont
- Washington
- Wisconsin
- West Virginia
- Wyoming
Don't see it?

Find:

Do REO selling agents prefer buyers with or without agents? Double ending the deal?

Contributions: 4

Q&A

:2
Disc

:2

View full profile

I met a realtor over the weekend and I told him I've submitted over 20 REO bank owned offers and have had 0 luck. He told me that REO selling agents don't really care for those buyers that have an agent because they want to double end the deal and get twice the commission. Is this true or partly true? Doesn't the selling agent have a fiduciary duty on behalf of the bank to garner as much as possible?

Flag content

October 07 - US

RSS

Replies (6)

Marlene Berrier, "marlenesellshomes"
Contributions: 73

Marlene Berrier, "marlenesellshomes"

Real Estate Agent

View my 18 listings

Contributions: 73

Q&A

:11
Disc

:5
Photos

:57

View full profile

I have ran into the same issue you have and I am not sure that they are getting a the whole commission as the bank on my foreclosures have cut my commission to just one side. I do think there is an advantage to the listing agent having the REO and the bank accpeting their offer over a selling agent from outside because the bank can ask the listing agent to take less commission because there is only one agent to pay. When there is more than one offer on an REO, the bank does require a Best and Final Offer be signed by all buyers that placed an offer so that the Buyers ccan put in their best offer. Keep trying those contracts -- and maybe suggest to your buyer that they need to put in the Best and Final offer because if it sounds like a good deal to the buyer, you know other buyers are thinking the same.

Flag content

October 07

FriendshipProperties
Contributions: 676

FriendshipProperties

Real Estate Agent

View my 13 listings

Contributions: 676

Q&A

:242
Disc

:40
Photos

:394

Zillow All-Star

Since April 2009

View full profile

I buy REOs often and always take the buyers side commission. I don't think this matters to the agent. Also these agents are very busy and do not have a lot of time to show around unqualified buyers. If you dont have an agent, how did you get access to the property?

Flag content

October 07

Susanna Kunkel, "SusannaKunkel"
Contributions: 169

Susanna Kunkel, "SusannaKunkel"

Real Estate Agent

View my 10 listings

Contributions: 169

Q&A

:25
Disc

:6
Photos

:138

Zillow All-Star

Since November 2009

View full profile

Aloha,
I understand your frustration. Luckily, here on Kauai our REO agents have been wonderful about working with cooperating buyers agents. My concern for you about using the listing agent is that REO's are particularly risky for buyers, and you'll need to do thorough due diligence in the inspection period. There is no sellers disclosure, and everything is "as is".

Here's some tips on How to Buy a Foreclosure that might help.

With warm aloha,
Susanna

Flag content

October 07

pmausteller
Contributions: 814

pmausteller

Real Estate Agent

View my 15 listings

Contributions: 814

Q&A

:1
Disc

:2
Photos

:811

Zillow All-Star

Since July 2009

View full profile

Hello REO Buyer,
I specialize in reo sales, my duties are to the seller first since I do have the listing. I do provide offer guidelines to buyers and buyer agents, small simple items when make offers can determine if your successful with seller accepting the terms.
Having the proper guidance is important, there are pitfalls and unknowns when purchasing reo properties. Great upside on buying reo properties too.
I do not like representing both sides of the transaction I think it's a conflict of interest and my liabilities increase. Every agent is different, I'm one to share the wealth. I suggest finding a buyer agent who knows the ins'' and outs' of the reo business, work with that one person be loyal to him/her and they will be loyal to you.

Best of Luck.
Paul

Flag content

October 08

Pat Bourgo, "Pat Bourgo"
Contributions: 1206

Pat Bourgo, "Pat Bourgo"

Real Estate Agent

View my 11 listings

Contributions: 1206

Q&A

:217
Disc

:54
Photos

:935

Zillow All-Star

Since June 2009

View full profile

Follow the money. These agent make all their money from the banks. I would never have them write a offer for me. They will lie to you to get more money to the bank.Most REO brokers that I know don't want to double end their listings.

Flag content

October 12

NTETS ZDGS 2007, "Caveat Emptor"
Contributions: 5924

NTETS ZDGS 2007, "Caveat Emptor"

Contributions: 5924

Q&A

:2232
Disc

:3625
Photos

:67

Zillow All-Star

Since January 2009

View full profile

i would say it has a lot to do with the market. hang out untill there is less competition. as per the actual question? yes, they probably do.

Flag content

October 12

Have a question? Ask it here.

Most Active Real Estate Agents

Conlon A Real Estate

438 listings

Local Expert
AdamShpritz

297 listings

Local Expert
Geni Manning CRS, ABR

219 listings

Local Expert
DANIELLE HARRELL

179 listings

Local Expert
Chris Cooke

143 listings

Local Expert

See more real estate agents

Related Discussions

Discussion Hi,My name is Nazma. I would like to know if home ID#2140086034 still on the market.

Last reply by Pasadenan
11 hours ago

In Buying Foreclosures
1 Reply - 23 Views

Discussion LAUGHING

Last reply by Cindy LaPeer
19 hours ago

In Buying Foreclosures
3 Replies - 99 Views

Discussion 3006 River Grove Dr Tampa FL is in foreclosure but Zillow does not show that. Why not?

Last reply by foreclosing
5 days ago

In Buying Foreclosures
1 Reply - 71 Views

Discussion Why purchase at a foreclosure auction?

Last reply by NWHome.us
6 days ago

In Buying Foreclosures
12 Replies - 606 Views

Discussion Asheville NC area seller financing

Posted by Rowena Patton
6 days ago

In Buying Foreclosures
No Replies - 15 Views

See More

Guide Bank Foreclosures versus FSBOs

In Buying Foreclosures
Edited November 24 2008

Guide Things to know when buying a foreclosed property

In Buying Foreclosures
Edited November 12 2008

Guide Foreclosure Primer

In Buying Foreclosures
Edited October 23 2008

Guide Foreclosure Overview

In Buying Foreclosures
Edited October 23 2008

Guide Foreclosure Eviction Techniques

In Buying Foreclosures
Edited October 23 2008

See more articles about Buying Foreclosures

Current Mortgage Rates

Current Last Week

30 Year Fixed

15 Year Fixed

5/1 ARM

Get this widget

<div style="width:298px;height:123px;border:1px solid #adcfff;overflow:hidden;text-align:center;font-family:verdana,arial,sans-serif;font-size:8pt;line-height:13x;background-color:#eff3ff;letter-spacing:0;text-transform:none;">
		<div style="margin: 0 6px;">
			<div style="margin-top:6px;">
				<a href="http://www.zillow.com/Mortgage_Rates/#{scid=mor-wid-lthd}" target="_blank" style="font-size:9pt;color:#36b;text-decoration:none;font-weight:bold;">
				   
						Current
				   
				         
				   Mortgage Rates</a>
			</div>   
			
			<div style="color:#555;margin:5px 0 1px;">
				<span style="padding-left:137px;">Current</span>
				<span style="padding-left:23px;">Last Week</span>
			</div>

<div style="background:#fff;height:60px;width:284px;border:1px solid #adcfff;text-align:left;">
				<div style="width:144px;float:left;">
					<div style="height:20px;background-color:#fff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/30_Year_Fixed_Mortgage_Rates/#{scid=mor-wid-ltt1}" target="_blank" style="text-decoration:underline;color:#36b;">30 Year Fixed</a></div>
					</div>
					<div style="height:20px;background-color:#eff7ff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/15_Year_Fixed_Mortgage_Rates/#{scid=mor-wid-ltt2}" target="_blank" style="text-decoration:underline;color:#36b;">15 Year Fixed</a></div>
					</div>
					<div style="height:20px;background-color:#fff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/5-1_ARM_Mortgage_Rates/#{scid=mor-wid-ltt3}" target="_blank" style="text-decoration:underline;color:#36b;">5/1 ARM</a></div>
					</div>
				</div>
					
				<iframe title="Current Mortgage Rates" frameborder="0" height="60" style="float:left;" scrolling="no" width="138" src="/mortgage/MortgageRateTableWidget.htm?wide=1&region=102001">
						Your browser doesn't support frames.  Visit 
					<a href="http://www.zillow.com/mortgage/" target="_blank" style="text-decoration:none; font-size:9pt; font-weight:bold;">Zillow Mortgage Marketplace</a> 
					to see this content.
				</iframe>
				<div style="clear:both;"></div>
			</div>
			
			<div style="margin:4px 6px 0;height:15px;width:276px;">
				<a href="http://www.zillow.com/mortgage/#{scid=mor-wid-ltgr}" target="_blank" title="Zillow Mortgage Marketplace" style="display:block;margin-left:4px;height:15px;width:145px;float:left;"><img src="/static/images/zillow-mortgage-logo-small.gif" alt="Mortgages, Home Loans, and Mortgage Quotes at Zillow Mortgage Marketplace" style="border:none;"/></a>
				   
				<a href="http://www.zillow.com/webtools/widgets/MortgageRateWidget.htm#{scid=mor-wid-ltget}" target="_blank" style="font-size:7pt;color:gray;text-decoration:none;float:right;margin:1px 5px 0 0;width:80px;">Get this widget</a>
			</div>
		</div>
	</div>

Need a Mortgage?

Zillow Mortgage Marketplace

Competitive rates
Accurate, custom quotes
Thousands of lenders

... and, it's free and anonymous

Get instant mortgage quotes

Loan type
Amount
ZIP code

Learn about Zillow Mortgage Marketplace

Zillow Poll:

Suggested by interested buyer 2

Would you buy a home with well water/ septic system?

Yes

Maybe

Next poll
Suggest a poll

Be A Good Neighbor

Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy

Tools

Create an Email Alert

This alert is for the following:

How often would you like the alert emailed?

Partner Tools

Nearby States

Do REO selling agents prefer buyers with or without agents? Double ending the deal?

Contributions: 4

Replies (6)

Real Estate Agent

Contributions: 73

Real Estate Agent

Contributions: 676

Zillow All-Star

Real Estate Agent

Contributions: 169

Zillow All-Star

Real Estate Agent

Contributions: 814

Zillow All-Star

Real Estate Agent

Contributions: 1206

Zillow All-Star

Contributions: 5924

Zillow All-Star

Main Image

Have a question? Ask it here.

Most Active Real Estate Agents

Related Discussions

Discussion Hi,My name is Nazma. I would like to know if home ID#2140086034 still on the market.

Discussion LAUGHING

Discussion 3006 River Grove Dr Tampa FL is in foreclosure but Zillow does not show that. Why not?

Discussion Why purchase at a foreclosure auction?

Discussion Asheville NC area seller financing

Related Articles about Buying Foreclosures

Guide Bank Foreclosures versus FSBOs

Guide Things to know when buying a foreclosed property

Guide Foreclosure Primer

Guide Foreclosure Overview

Guide Foreclosure Eviction Techniques

Need a Mortgage?

Get instant mortgage quotes

Be A Good Neighbor