Rosie,

I can't speak for other listing agents - but I am one of those who have been blessed with the opportunity to list bank owned homes.

My team and I have several processes in place - both before an offer is submitted to my client and after an offer is accepted, The key to my business has to be sucessful communication - so I make a point of keeping in touch with all of the agents who have an interest in my listings.

If I can be of further service, please let me know,

Rosie, unfortunately it is very common in our current market. There are simply so many offers on the bank owned properties that the agent's usually don't get back to the buyer's agent. They can have as many as 60 offers on one house in the first one or two days. Our inventory is low and competition is extremely high.

I hope you have better luck with your offer submissions in the future.

Rosie, no it isn't too much to ask, you can set up a template with a standard reply; it is that simple. Good luck to you and hope your find the right property. Jane

Jane SargentHamilton
Ellsworth, ME
207-479-1106

Thanks for your answers! The properties were in fact reo's. I understand agents have multiple offers, but I think they should also take buyers into consideration since we lose out on so many other opportunities while we wait for a response. A mass email doesn't seem too much to ask.

It is not uncommon, in the foreclosure (REO) market, not to hear when an offer was not accepted. Although some listing agents will not communicate when an offer has been declined...others do. Although it would be considered appropriate and professional to do this, when you are facing 10-20 offers, it can be impossible to notify all offerees. I do feel that, when offering on bank owned properties, an offering agent needs to be pro-active in their approach. You cant change how a listing agent does their business yet, an offering agent can change their approach and increase their response times and communication by utilizing electronic methods. E-mail and text messaging are the norm, not the exception, in this market. So.....the answer to your question is yes, it could be a lack of professionalism but, since there is nothing that can be done about it.....what will you change about your approach to change the result?

Rosie,
The offers weren't by chance on short sale homes, or forclosures were they? Many times it is the banks that don't respond, and if you call them to get an update, they act like you do not have the right to.

Good Luck!

Rosie, You should be getting an answer one way or the other. I am assuming you are using a date and time to confirm your offer. If the listing agent is not letting your agent know, your agent should be calling them after the deadline. The seller can either accept your offer, decline your offer, or ignore your offer. In any case, the buyer agent should be keeping you informed of each of your offers and what the conclusion was. Jane

Jane Sargent-Hamilton
Cell: 207-479-1106
Email: calljaneinmaine@gmail.com