Beware of the Other Realty Guy

Recently, my clients and I threw a hat in the ring for a bank-owned property. Form my previous experience, it seemed like everything was going smoothly.

A week or so went by, and I didn't become concerned yet. Red flags went off however, after the second week came and went. I began calling and E-mailing the listing agent up to three times a day for three days in a row trying to get a response from him. When that didn't get a rise out of anybody, I finally had to call the broker to suggest maybe they needed to get an agent on the dealings that knew what they were doing. I was then sent over to their assistant, who luckily for me, appeared to know what she was doing.

Finally after a long and drawn out two weeks, I received a notice giving me an extension due to the bank opening the escrow with the wrong company. How is it even possible to not be aware of what company you are dealing with? Thank goodness I decided to give the broker a call, otherwise the selling agent would have just coasted along and not have been able to put a stop to the madness.

I've also been fortunate enough to experience dealings that were completely opposite from this situation. I had sold a property not to long ago for an agent listed in Lake Arrowhead. It wasn't a surprise when it took awhile for the bank to finally open the escrow, but the rest of the closing process was very successful. This agent was very good at keeping me updated, as well was her assistant. I was then able to complete all of my paperwork correctly and in a timely fashion.

Since the agent I worked with was knowledgeable and on top of the situation, it allowed me to deliver outstanding customer service to my client. It is always a wise decision to ask your Realtor a couple of detailed questions about how they work so you can be sure you are getting the service you deserve. It is always beneficial to work with an agent that is full time versus someone who is only part time. Your Realtor should also be very intuitive about your local market and how it works.

If you do plan on buying a property in the Big Bear area, I would not suggest hiring an agent from L.A or Orange County. If your intentions are to purchase a bank owned property, it is very beneficial to hire an agent that is familiar in that field. It is a sad fact how differently banks can operate, and if you don't have an agent that is proficient in the bank owned property, they could cost you lots of money, and even possibly the property.

Author Info: M. Fetzer knows all about researching Big Bear, CA foreclosure deals and Big Bear realty in general. Check out his other posts online.