Realtors ~ Local Guidelines for REOs and Short Sales!

What is the flavor of the day....it seems to be "How We Do Business". I constantly see in my business, ethics and methods that are not on the highest level of the real estate industry. I recently had a short sale transaction where the agent told me that we were in first position and that the bank did not want to look at other offers. The agent said "you're good"!. Based on this comment we did not up the offer. This was on a Tuesday. The following Monday she calls to say the bank has accepted another offer. She does not return my calls asking for an explanation of what occurred that changed the situation. In my book this is NOT good business. REO's and short sale dominate the market and make it hard to navigate with a result of helping your buyer be successful.

We have lots of grey areas now in both REOs and Short Sales. Areas where the Listing Agent must choose to do good business. I believe we have unclear grey areas for abuse in these areas and I for one would like to CLEAN UP DODGE!

We should on the local level look for local Board approved procedures to communicate in REOs and Short Sales, clear and straight forward communication that helps the industry move forward. Agents MUST communicate clearly and according to guidelines as to what is fair and equitable to all parties. If we are ahead of state guidelines in a timeline, then we must look to local guidelines to protect the consumer. Doing good business is crucial in this market. Communicating and helping your seller get the best offer possible is so important.

I am Jeanean Gendron, your Redding and Shasta County Specialist. You can reach me at 530 276-7417. I answer my phone.