Orlando I agree...
The problem in our market is that Agents are doing anything to take listings and in 99.9% of the cases they are listing the home just to attract offers. Then they throw them at the bank in hope that they will take one. Of course we are talking a whole different pricing as well in our market compared to yours.
The other major issue is exactly what just happened to us on a Bank Owned Purchase this past week. It appears that the lenders are getting so tight that unless the buyer has 20% to put down regardless of FICO or reserves there appear to be no Second Mortgages that will due a 90CLTV anymore and that is not good specifically in our market where the median priced home is still around 500k.
Here is the post I just made regarding this very issue...Check This out and you will start to see why I recommend not to show Short Sale and now even Bank Owned Properties in our market unless the Lisiting Agent has their act together or a loan already pre-approved.