There is a lot about the real estate industry that needs improvement. But, there are some very stand-up hard working salt-of-the-earth real estate agents and loan officers that are working in a challenging market and who are literally bailing out financially challenged homeowners. They are making things happen and are doing what they can to make transactions close.
I know it is a challenging market, especially in the outer lying areas outside of Seattle/Bellevue proper and cash flow is tough, but I’m growing VERY tired of LO’s giving broker credits and agents giving up commissions earned for “challenged” borrowers who obviously have a history of financial mistakes.
I say this in the similar tone and voice of Al Pacino in his famous scene in Scent of a Woman:
I know people want transactions to close, but sometimes consumers need to face the consequences of their own decisions. Loan officers and agents sometimes need to say, “you know what?….enough is enough. I’m not dipping into my livelihood to bail you out. Dig yourself out of your own hole.
Don’t blame us for your prior agent selling you an overpriced home. Don’t blame me as a loan officer for your garbage loan sold to you by a prior mortgage broker.”
If the Bubbleheads want to trash me because I’m part of the real estate industry, so be it. But, this is the stuff that goes on behind the scenes that agents and loan officers GET NO CREDIT FOR AND SHOULD.