Question about a shadey Realtor

**BigLurr54** · 08-24-2011, 09:30 AM

First I would like to say Hello to everyone here. This is my first post and I'm sure there will be many more to come so I would like to thank you all in advance for your help.

Currently, I am in negotiation with a bank on a foreclosure property. I am very young and new to this whole process. The property is in very rough shape. I have had a home inspection done on the property and decided I would take on the project. I contacted the listing agent directly about the property. I didn't get a good feeling about the agent. I decided to make an offer. I made an all cash offer with no contingencies. The listing agent came back to me and told me that he recieved a higher offer for the property the very next day. He told me the amount of the offer. I re-offered a little higher than the other offer. This happened a few times back and forth. Each time the agent was changing his story and I got a bad feeling about the whole thing. When I made the last offer I told him I was at my max. Amazingly the other agent putting in offers didn't counter offer. Now the listing agent (my agent) is dodging me. I've had to initiate all of our conversations. When he doesn't return my calls I show up and wait for him at his office. He is being shady. I'm worried he is playing games behind my back and not making offers to the bank to raise his commission. What can I do to make him respect the integrity of the system? How can I check up on him with the process? Can I go around him and deal with the bank directly? I'm very concerned he is taking advantage of me because I'm a young guy buying with cash. Any help or advice would be great!

Thanks

**Tamara.Patterson** · 08-24-2011, 09:45 AM

Hey there! If the bank has appointed that specific realtor, you will have to go through them unfortunately. However if you appointed him then you should definitely be able to go directly to the bank!

**BigLurr54** · 08-24-2011, 09:48 AM

I found the house on Zillow and He was the listing agent. When I went to the Town office I found out the property is owned by Wells Fargo. He is a foreclosure realtor for a local real estate company.

**Tamara.Patterson** · 08-24-2011, 09:54 AM

Originally Posted by BigLurr54

I found the house on Zillow and He was the listing agent. When I went to the Town office I found out the property is owned by Wells Fargo. He is a foreclosure realtor for a local real estate company.

Then I would definitely contact Wells Fargo and find out. Because if he's not doing his job right and you are not satisfied you need to go above him...which can be hard sometimes with realtors. But going to Wells Fargo would be your best bet.

**Greg** · 08-25-2011, 04:55 AM

Wells Fargo is not going to deal with you because they are not handling the sale. They have hired an asset management company (am)to handle the property and the am has hired this agent to sell the property.

There is no integrity in the system. The agent has to do what the asset manager tells him to do. The paper work from the asset manager might not make it to the agent for a couple of weeks. If the price is on the low end then this just complicates the whole situation as there is not much incentive for the asset manager or the agent.

If you are not comfortable with this type of situation then you need to start looking for properties that are not bank owned.