Go to a professional short sale company to handle your listings.  They can get answers 50-75% quicker than an individual agent & the 2nd is one of the first things negotiated.  Why don't they hire more people?  Because they are already loosing their butts and haven't accepted their fate.  They need to get real.  If I am handling one personally on the rare occasion:  I do bug them - relentlessly (but nicely).  Sometimes the squeaky wheel gets the oil!  Good luck!

Michelle,

Oh yes, they will literally cut off their nose to spite their face!  They are STILL bucking the reality of their situation & costing themselves BILLIONS of dollars.  It IS cheaper in the long run for them to accept the Short than let it go to foreclosure.  They can deduct losses from their taxes & get it off their books.  Instead they assume a huge liability that will take upkeep & tons more money to sell REO.  However, it is only within the last year or two that the Loss Mitigation Depts. became important to the whole banking scenario.  I think they were all officed in broom closets before then - lol! 

From a Buying Agent's end:  I would ask the Listing Agent if they are experienced in Short Sales, how many have they done & what is their success ratio of closing?  If they took a 3 hour CE course & don't really know what they are doing...you are in trouble.  However, we all had to start somewhere, and a lot of "new short sale agents" are quick learners and work REALLY hard for Selling Agents and their Buyers.  This is a TOUGH arena of real estate though & unless you have an agent that isn't scared to get in the ring with the big dogs, your chances are slim to none that the bank will accept the offer before it forecloses.  The offers have to be submitted absolutely precise, complete and to the bank's specifications or it will just sit on someone's desk for 2 weeks only to be rejected (not for being a BAD offer, just not complete).  Take a pro-active stance for your Buyer's!  Insist that the Listing Agent cc you on all correspondence to the bank.  E-mail the bank directly if you are not getting answers & tell them your client is moving on down the road unless they get an answer PRONTO.  If you lose the deal over something like that, then it wasn't going to work anyway.  If the Listing Agent gets mad:  tough.  I WELCOME a pro-active Buyer's Agent.  Sometimes I will even suggest it as I am tired of telling them "haven't heard anything yet" and telling the bank "the Buyer's Agent REALLY needs an answer on this".   Also, ask if the 2nd mortgage has signed a release yet, and if the BPO was exterior/interior and what it came in at.  Ask if title has been run & is the property clear of liens?  Geez, I could go on and on...  You asked for more input!  Seek and ye shall find...not that my advice is 100% foolproof, but just a few tips from someone who has been down that long & winding road many times & have found a few shortcuts (pun intended) lol!  Best of luck