Short Sales: Communication is Key!

Reblogger Debe Maxwell
Real Estate Agent with www.AtHomesCharlotte.com | Savvy + Company Real Estate 228209

Successful transactions with good communication skills

Thanks to Michelle Gibson for this wonderful post concerning the management of short sales.  This applies to short sale management across the country--not just Wellington FL short sales.  

 

I believe that we get so busy that we sometimes forget the most elementary aspects of our jobs and communication is certainly one very important facet of getting a short sale transacion to Closing. 

 

Our jobs are all about customer service and even if the buyer is not our 'customer,' we owe them and their agents the courtesy of following up frequently, even if there is nothing to say to them.  A simple, "We're still processing this file with the banks; no news this week but, we'll let you know as soon as we hear something" makes all the difference in the world!

Original content by Michelle Gibson

Short Sales:  Communication is Key!

Communication is key when it comes to short sales, regardless if you are a short sale listing agent or buyer's agent. 

As a REALTOR I have had conversations with both Short Sale Sellers and Buyers who have worked with other real estate agents and their biggest complaint was lack of communication from their agent.  

Wellington Short Sale CommunicationWhen a homeowner decides to short sale their home it can be one of the most stressful times in their life with all of the unknowns, so it is extremely important that their listing agent communicates with them on a regular basis even if it's a quick e-mail or text stating "no change this week."  At least the seller knows their listing agent hasn't forgotten about them.

The same holds true for home buyers who are trying to purchase a short sale.  First and foremost it is important that home buyers are educated on the short sale process and are prepared to stick around until the sellers receive a short sale approval or denial letter, which could take weeks or several months.  

Most home buyers could probably go the first week or two with no update or communication from their real estate agent, but as soon as that 30, 60, 90, 120 days pass I can almost guarantee they will start to get impatient.  So it is important to keep these buyers updated even if it's an e-mail or text stating "no change this week."  I personally update ALL of my clients every single week.

Communication is key for ALL real estate transactions, but especially during a short sale transaction.

 

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Rainmaker
365,653
Pat Champion
Coldwell Banker Camelot Realty

I totally agree with you communication is the key to any transaction; especially, a short sale.

April 28, 2011 05:15 PM
Rainmaker
1,339,642
Anita Clark
Realtor - Homes for Sale in Warner Robins GA
ColdwellBanker SSK Realtors ~ 478.960.8055

Excellent re-blog choice Debe.  Communication is always the key.

April 28, 2011 06:03 PM
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541,463
Larry Story
Total Care Realty, LLC, Greensboro, NC Real Estate
Total Care Realty

Debe it is so true on short sales from the standpoint of the buyer it is very important since they rarely get any news and are usually backing out after only a little bit of time.  I make it a standard practice that when I communicate with the seller I also go ahead and touch base with the buyer's agent. 

April 28, 2011 09:41 PM
Ambassador
1,327,121
Jon Zolsky, Daytona Beach, FL
Selling Daytona paradise for heavenly good prices
Daytona Condo Realty, 386-405-4408

Debe,

I had people coming out-of-state to look at condos, and I was out more than I usually do, and this immediately affected the way I communicate. In our business where we are one on one, just a little more load, and it is easy to start missing on important stuff.

you can't prioritize when you are in a car with clients and are showing properties to them. It is sometimes a difficult balance

April 28, 2011 11:52 PM
Rainer
232,378
Mike Yeo
3:16 team REALTY

Debe - no matter what the satus is, we should always communicate even if it just to say no update or nothing has changed. This lets the clients knows that you are still there working on their file. Thanks for the reblog.

April 29, 2011 09:10 AM
Rainmaker
1,389,080
Tom Braatz
Waukesha County Realtor Real Estate agent,Waukesha
Re/Max Realty Center 262-377-1459

You are right; when we do our job we sometimes realize that dealing with th emotions of a short sale it is a home and not just a house.

April 29, 2011 11:09 PM
Rainmaker
1,842,157
Gita Bantwal
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel
RE/MAX Centre Realtors

This is a good post to reblog. Communication is key in our business.

May 01, 2011 06:37 AM
Rainmaker
1,228,683
Michelle Gibson
REALTOR
Hansen Real Estate Group Inc.

Thanks for the re-blog Debe!

May 02, 2011 07:15 PM
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Debe Maxwell

Charlotte Homes for Sale - Charlotte Neighborhoods
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