"Yes, Mr. Ineedahome, I understand that it is still listed as active in the MLS."; and "Yes Mr. Ineedahome, I realize that it's a waste of your time having listings on there that should be pending." What am I supposed to say?
I realize that I'm probably stepping on someone's shoes here, but...I know it shouldn't be active, you know it shouldn't be active, and guess what...the consumer knows it shouldn't be active.
I see this as an unfair practice by REO listing agents. I know it's not their fault, but they still end up being the focus of buyer agent's frustrations. Here in Davenport Florida, realtors leave their listings as active until the banks get all of their bank addenda back signed by the buyer. This usually takes about 5-7 days after the property is actually under contract and an offer was accepted. Normally it wouldn't be so bad, but out of 871 active listings in Davenport, Florida 107 are foreclosures. That's a pretty significant portion, and it ends up being a thorn in the side of buyers and buyer's agents alike.
And don't even get me started about this problem in Kissimmee and Poinciana, it's even worse. I know I can't be the only realtor who thinks this needs to change, at least I hope not. I can't be alone in my misery. :) I know the banks want the property to stay on the market just in case the buyer they are accepting walks away. However, what have they actually lost if they make the listing pending while they wait on the bank addenda? They've probably already listed the property 10%-15% below market value and know the house is going to sell.
What do you think? Some of you REO agents come on over here and argue the point with me. I'd like to hear your side of it. You never know...I could be wrong. But I doubt it! (wink)
Your friendly Davenport, FL Realtor®
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