Got an interesting comment on one of my recent posts. It seemed to be from a investor interested in working with me to find and buy foreclosure homes. Being the dutiful Realtor that I am, I emailed him back and setup a customized MLS search that would email him whenever new foreclosure homes hit the local MLS.
The man emailed me back, several times over several days with (among other things) the following information (the spelling errors are his, not mine):
"has there been a professional short sale package filled out by the lender of the defaulted mortgage? That is the first step i would start if I am going to pursue workign with any of these listed properties/. . . . what i am wanting to do is actually contact the homeowner myself . . . I dont want to pay for any services . . . You take a lot of the leg work out from underneath me . . . " (emphasis is mine)
Today I finally got tired of getting these spelling-error riddled emails. I emailed him back with the following:
"So let me get this straight. You want ME to do all your legwork and research but you don't want to pay me for it? Ummmm, let me think. NO."
I never stop marveling at the gall of people who think it's perfectly OK to come right out and say that while Realtors' services are valuable to them, they still openly refuse to compensate Realtors.
I guess the extremes of our current marketplace are bringing out the nasty in me too. Maybe it's time for a day off to readjust my attitude.
Update: In this man's defense, I must admit that he emailed me back and said I'd misunderstood. He wanted to work with me only because I already have all these short sale listings. I would still make my regular commission but he'd help me and the homeowners with the short sale paperwork.
That raises a bunch of other questions: When I emailed this man foreclosure listings, there were about 400 of them in the list. Does anybody really think that I personally represent each one of those 400+ sellers?
I've already got a 100% success record in getting my short sale listings closed, including a good system for handling all the baffling and irritating paperwork required by the lenders. Why would I need help?
Is he doing this out of the goodness of his heart, for free? I doubt it. He'll want a cut of my commission for sure.
Sounds like more help I don't need.