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Working with buyers agents

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Aug 20, 2008 8:56:22 AM
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Who are the buyer's agents on the forum? When you're working with a client and placing an offer for a short sale how do you convience your buyer to wait the amount of time it takes for a short sale.

Do you find that the listing agents are generally helpful, knowledgeable, keep you informed (scheduled updates) or not?

Any other comments are appreciated.

Guest
Aug 23, 2008 2:57:14 PM
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I am very blunt with my buyers about time frames and expectations. I wont let them make the offer unless they "get it" and, of course, a minimum 90 day window works for their situation. If someone only has 60 days to move, I strongly urge them to find another property. Although many properties advertise "quick turnaround", Ive still never gotten a response less than 5 weeks.

The buyers still call me every few days with the "maybe we should..." or "what do you think is happening..." conversation, but I sheild the listing agent from most of it. I ask for a weekly update, even if its "no word"

Listing agents vary on their responses but generally I have found them very helpful. My experience in this market has been that the agents (buyers and sellers agents alike) who have survived are very professional and helpful.

  1. Edited by Sarasota Exclusive Buyer Agent on Aug 23, 2008 2:59:40 PM
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Oct 23, 2008 8:12:35 AM
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I am finishing a short sale on the buyer's side and we only waited 30 days for an approval. I told my clients about the pitfalls of short sales and continued to remind them as we went further along, especially when they began to worry whether they would actually be able to close the deal. We continued to look at other homes in order to offset some of their uneasiness.

The waiting period definitely depends on the relationship the listing agent has with the bank. I called often and he, in turn called the bank requesting any new information. His staff is professional and courteous and I look forward to doing more business with his office.

  1. Edited by Wanda Kubat-Nerdin on Oct 23, 2008 8:13:50 AM
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