How Often Should You Call the Short Sale Listing Agent?

I found this through a re-blog and just wanted to pop in and say how much I love this advice dotted with humor post.  I can't stand agent antsy's in the first month of the process.  Most of us are working on more than ONE real estate transaction simultaneously!

Wendy - this is excellent advice, adn a pretty accurate description of the agent types. LOL.

I think it also depends, to some extent, on the response of the LA. No response, you're gonna get more emails or calls from me. Sorry.
Am I wrong?

Jeff

Most good listing agents dealing with short sales will update the buyers agent on a weekly basis even if only to tell them nothing has changed from the previous week.

Great advice! I laughed when I saw this.

Joe

Out of courtesy to all parties involved, even the title company, I email everyone a Short Sale Update every week.  This way everyone is on board with the progress being made and no one is left in the dark.  Even if there is little progress made, I report even that to keep the lines of communication open.  I have been successful in closing more Short Sales with consistent communication.  :)

What a great expectation-setting list!  Once a week is enough, unless you actually have something urgent to report.  Excellent!

I have one pending now and I follow up on it once a week.

Wendy, Thanks for the smile on the different agent types, and I fall into the Agent even category (phew) but do hate when I am working with a listing agent that never gives me updates and I am the one always initiating. I like the plan of a once a week update from the listing agent on the same day if possible. Educating the buyer on the process is key as well for their expectations on how often you will be in contact with the listing agent during that beginning process.

Hi Wendy!

I love the even agents. They make our jobs that much more pleasant, and they understand the process. The antsy agents probably have never done a short sale, and therefore they don't know what is what. Someone has to teach them the process, but I wish it was their broker instead of me! :) 

Great post!

Yep once a week even if there is nothing to tell.

Bah, humbug. What would it take to eliminate the whole problem by doing a simple weekly email update to the buyer's agent. How the heck long can that take? Fifteen minutes out of your day would eliminate 90% of the calls you get, I'm fairly certain. Sorry, Wendy, just my opinion. I'm not in your job at your desk, and maybe I have no clue what I'm talking about.

Barbara #36 - Hurray for you! You get it!!

Wendy,

Oh yeah..I like the uneven keel agent...who calls often and then never calls..:)

Just what I needed to hear.  I have been checking once a week and wondering if I was doing what most do.  Thanks for the guidelines.

Wendy, I got a question answered in NO TIME AT ALL just yesterday with a search on Short Sale Superstars...thank you SO MUCH for all the good work you've put in serving the community!!

I do find I get alot of buyer's agents calling me on Monday, I like to do my updates on Friday, but if I get some really good info, then I'll email them as soon as I get it.

I want to mention Short sale superstars too. Any agent doing short sales, needs to visit that site. I've gotten some good nuggets of information that has helped me on some of my deals. Wendy and Bryant rocks!!! :)

Wendy - While I'm not an LA or BA calling about the status of the short sale approval, I can most certainly relate to the BA who just wants to be updated on a regular basis even if it's no new news today.

On another note, most short sale transactions are extremely challenging to close.  One of the most frustrating aspects I find about short sales are the short sale lenders attitudes of making everyone in the transaction wait and wait and wait and wait and wait and wait.....

The banks have no issue with taking months to do anything and everything.  Then as soon as the banks approve the short sale, all of a sudden they are all over everyone in the transaction with their "hurry up and close" manner and start pushing everyone around and threatening to cancel if we don't close in a matter of days.

If the listing agent wants to keep the buyer on the hook, then I would suggest the listing agent contact the sellers agent once a week, even when there's no info. You can ask if the buyer is still willing to hang in there. That way you should be able to take care of all the personalities, and keep you finger on the buyers pulse.