A Different Take on the mess with Bank of America AKA BoA
It has become all to obvious that the service of most REALTORS(r) far exceeds anything offered to us by Boa or even to their clients and even the service at the Wendy's drive through seems to exceed anything BoA even strives for. I called Wendy's and got a real person in seconds and and immediate answer to my question. I can't imagine that anything that Wendy's customer service deals with has the weight of what BoA deals with and yet they are prompt curtious and polite.
My anger is stemming from what they are doing to our industry. Two RE/MAX Agents less than 100 miles apart have the exact story at the same time; A short sale property that has an offer submitted and while waiting for a response from BoA they foreclose on the property.
My Question...
How much of our struggling market is being caused by the total incompetence of BoA?
I figure if there are two agents so close with the same story in September of 2011 there are hundreds, if not thousands across the country of agents that have had the same issue this month and the magnitude of how much BoA has contributed to lack of performance in the housing market is staggering.
The costs are staggering in just these two deals...
Consider these costs:
1. Cost of time of listing agent
2. Cost of time of all agents that showed the house and those that wrote offers
3. Cost of time and lost wages of clients/customers
4. Cost of servicing by Equator (or lack there of in some cases)
5. Cost of unnecessary foreclosures for homes that had great offers, my best one was cash...
These are just some of the costs and this is staggering.
I am tempted to send BoA a bill for my commission or even seeing if there are enough agents that would want to file against them. We have to do something, not only are they wasting our time and resources they have also taken our tax dollars and their total abuse of clients and REALTOR'S (r) shows only signs of getting worse.
I can't believe at real estate functions that BoA employees that have personally screwed me or someone in my office look at me and smile like they are glad to see me knowing the issues that they have caused. It took months to even opt out of their emails filled with empty promises.
Any other ideas on a ways to be heard? There has to be something we can do!
(I don't usually rant and make post public, but maybe someone will see this that can help fix this!)
I hate to rain on your parade of ranting, but I have a great track record with BofA. I think much of it has to do with the types of mortgages and the laws of each state. A few years ago I was not a fan of BofA because of exactly what you describe here, but I've seen major changes and have had short sales complete in as fast as 2.5 months and that's been replicated a few times now. Hopefully it will change soon for you in your area.
Wow...that is amazing...I have yet to hear anyone that has good luck with them. What numbers do you call. I have 4 unanswered emails from Equator and have spent 4 hours on hold and talked to people that have given me contradictory answers or a "we will call you back" and not one person has called me back...I don't need a headache and would love to find a way to work with them, but after every promise of "we know we had issues, we have it under control", there is an issue with an agent or myself that shows no progress and in some ways it has gotten worse for us.