MOST Common Complaint about Short Sale Agent
The most common complaint brokers are getting these days is that the short sale agent is non-responsive or that the process is going too slowly for the sellers. The best way to prevent this type of complaint is to manage your client's expectations from the beginning of your relationship-especially when working on a short sale.
Explain to the client that the timeline for a short sale transaction is much longer than for a "typical" transaction. Inform the client that banks may sit on offers for weeks or months without explanation. Expect nothing for 30 days and then again in 30 day and maybe things will start to break loose around day 70-90.
You should also make it a practice to stay in contact with all of the players in this type of transaction-your client, the other agent, the lender and so forth. If your client hears from you regularly, they will feel less frustrated by the process.
"A doctor who has a strong bedside manner rarely gets sued," says Amdahl. And having the professionalism and communication skills that keeps the deal on contract and makes your client feel you are on top of things will make you memorable for all the right reasons.
Hire someone who emails updates to all parties every Tuesday and Friday like me! I give them a website ID to have access to a Short Sale Communicator to see the actual communication between the lien holders.
Comments(2)