Feedback a Short Sale Agent Should Never Get from a Buyer's Agent

Hi Chris Ann - This is a variation on a theme: lazy-ass real estate. "Well, my buyers wanted a ranch." or "My buyers need a 3 car garage." or "My buyers wanted a different school district". etc. etc. Never ceases to amaze me.

It is mind baffling isn't it?  I showed a short sale today that has already been approved by the bank.  The buyer insisted on seeing it.  I told her it needed new carpet, paint and lots of TLC but that it was about $80k under market.  Her and her husband got there and whined about the fact that it needed new carpet, paint and TLC.  Hmmmmm - sound familiar.

Oh, I don't know if it was the agent, or the buyers.  Perhaps the agent showed them properties they wanted to see and then had the short sales aren't short talk, and the buyers reconsidered.  But, who knows, maybe the agent might have other clients who might not need to be so strict with times.  I can't begin to tell you have many times my clients have flipped flopped over things regarding their criteria.

Chris  That is a good question.I always prep my buyers .. If they want a 30-60 day settlement a short sale is not a home they should consider looking at .It takes time and patience .

HelpfulHannah

It's like getting feedback on a property that is not updated - and there are 30 pictures, plus remarks, to prove that point - "clients want something updated."  Well, DUH! 

Clearly, there is not enough caffeine consumption going on some days.

Chris Ann:  The agent may have had too few properties to show that met other criteria and they  "threw" this one into the tour.  I've seen this happen here.  Bad idea.  Not only does it tick off the clients but it also irritates agents with whom they might find themself negotiating some day. 

As a Massachusetts Short Sale Agent I receive that response often enough that it leaves me scratching my head!

The one that I like is when the agent asks me if the sellers will consider accepting $30,000 less because the buyer cannot afford to pay the listing price. Why are they showing the buyer homes that the buyer can't afford to buy? I ask: may I be so bold as to suggest that you might want to show your buyer homes that are priced $30,000 less than my listing? They apologize and say but their buyer insisted. Are agents so desperate that they will work with anybody? Even a buyer who is wasting their time? What's wrong with saying NO? What's wrong with telling your buyer the truth? That truth might be that the agent is not going to show a short sale that can't close within the buyer's time parameter. It's not just the buyer's fault, it's also the agent's. Balls. They need to grow a pair.

It’s a question that will probably go unanswered. You might not even have gotten the truthful answer from the buyer’s agent, so you never know. I don’t give feedback on anything my Clients have looked at until the actually close escrow on a property. I don’t want to give away any little thing that could become a negotiating position should my Clients preferred choice fall out of escrow and they have to go back to a previous home. If someone calls me for feedback, I’ll just say that my Clients are not interested in the home right now and let it go at that because that’s the truth.