Wednesday, September 29, 2010

How Often Should You Call the Short Sale Listing Agent?


If you are a short sale buyer’s agent, it can often be frustrating waiting for any scrap of information for your buyer. After all, it might be three to five months before you get short sale approval. You don’t want to lose your buyer. It’s best to give them as much information as possible so they feel part of the process.

But just how often should you call the listing broker to check for status? I get a wide variety of buyer’s agents selling my Destin Florida short sales.

Agent Mellow: He might contact me once a month to find out how the short sale is progressing.

Agent Never: He never contacts me during the approval process. I will send him updates, but if I don’t, he’ll just be “surprised” when I forward the final approval.

Agent Antsy: He emails me almost every day. Any word? Is the appraisal back? Do you have approval? Etc. Etc.

Agent Even: He calls or emails about every week or two. He is on a program. He might check in more often if his buyer asks. But he tells his buyer in advance how often he’ll provide an update. This is the guy to emulate.

If you are a buyer’s agent and sell one of my Destin short sales, feel free to email me once a week. Don’t call on Monday - it is the highest volume call day for short sale lenders. Thursday or Friday is a good day. Prepare your buyer about the short sale process. Let them know how often you’ll be getting updates.

Work as a team with the listing agent and keep your buyer in the loop. That way, everyone will be cool and prepared when you finally get approved!

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

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