I am fairly lucky investor to have a very good seasoned broker who does spend time with me. I recently have been looking in far away areas to invest in and had to look for another agent.
Every time I drive by a house there is a for sale sign with a real estate agents information on front. I have tried to call these agents numerous times to check out these properties.
Real estate agents usually respond within about a week. I can understand they are very busy and have to find time. Lately I have been getting responses back after three weeks. That is plain ridiculous and at that point they should have not called back at all.
When you are talking to an agent if you are polite they will usually tell you why it took them so long to call you back. The main reason is the overwhelming number of bank owned properties.
It is getting to the point that real estate agents have minimal time to deal with their clients at all. The banks require so much leg work many agents don't have time to sell. They only have time to list and watch the bank owned properties they control.
A real estate broker friend of mine has a small office where she is the only agent. She has over fifty bank owned properties that she is listing. She had to hire three people just to manage all of them besides working sixteen hour days herself. The worst part is that she has barely sold anything.
It is getting to the point that these real estate offices just keep on getting a larger and larger inventory of listings without selling anything. It almost seems like they like to accumulate the darn things.
These banks are putting such a burden on these real estate agents. They should at least listen to the agents so they could move the properties. Of course, they don't listen and they overprice everything. Over pricing is bad enough but not willing to negotiate is just plain wrong.
I really don't understand why these agents are working so hard for these banks with very little compensation. I guess it is the only way to survive in this game.
Eventually the banks will have to break on their prices and the housing market will start moving again. At that point I guess the agent's hard work will hopefully pay off in the end.
There are still a lot of great realtors out there today willing to help you, but it is getting hard to find. It is not their fault they are so busy. People are only capable of so much.
I would not blame the realtors to much if you are trying to put offers in. They are stuck between you and the banks. Just keep on trying and if you are intent someone will give you the time of day.
I am not trying to say all realtors do not call you back. I'm really just saying that they are very busy and have no time.
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