CA R
The one place where we do see the highest and best coming from the banks is on REO’s. I went and looked at about a dozen agents that have done at least 20 REO’s sales. I compared how many times one of the properties they sold in a traditional sale in the last 2 years had both ends in their brokerage with how many times their brokerage had both ends of an REO transaction. IN EVERY SINGLE CASE, they or someone that worked for them seemed to get both sides of the REO transactions at a far greater percentage. I’m sure they could explain every single case but the statisitics do not lie. I want to be clear. IT WAS IN EVERY SINGLE CASE including agents you would likely far beyond reproach if you know what I am getting at.
The REO agents are sitting in the garden of eden and the temptation to take a bite of the apple occassionally must be too great even for the best of them.
PS I have been closed a few dozen short sale transactions and could have taken both sides many times. I have had both sides only once in a closed sale. The buyer was the family of the disabled tenant that resided in the who knowingly paid above market to make sure the tenant would never get displaced. No one else would have paid what they paid. I did have one more in escrow with what was the clearly the best buyer that came to the table after a few months on the market but that buyer ultimately walked.
