BUYERS & SHORT SALES

In my area, short sale listings are being avoided like the plague by agents.  I have several subject to short sale listings, they never get shown.  Truth is, I would rather never show another agent's short sale if given the option.  We have plenty of foreclosures, ready to go, commission set, prices low, compare that to writing on a short sale, months of no response, commission cuts by the lenders if they ever even give an answer and its understandable how no one is showing them.  The foreclosures get the buyers and offers, short sales get the short end.  This is thanks to the lack of professional response by lenders, if they would step up to the plate and be timely, we would have a whole different story to tell.

I am seeing the same thing in Tulsa...  unless there is something really special about the property--enough to get past it being a short sale--my short sale listings are not getting shown much either.  And, as Beth said, I prefer not to show other agents' short sales!  Having been on the listing side of them, I know how long it can take to get through the process and the buyers have to be very patient.  Some of the lenders have streamlined their process and made it easier to navigate the short sale, but until more of them do, I think that buyers are going to continue to stay away from them.