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Asked by At, Florida Mon Apr 6, 2009

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Answers

3
Lisa Quinter, Agent, Fort Lauderdale, FL
Mon Apr 6, 2009
BEST ANSWER
In my experience, the answer is an emphatic "no".

If one of my listings turns into a short sale, I actually hire a company who handles the entire short sale process with the bank. It is their job 24/7 to do nothing but try to obtain a response from the bank on any offers we submit. The seller pays a small fee for this AS DO I, the realtor, as well. In my opinion, it is money well spent. Staying on top of a short sale is a job in and of itself. While I am out showing properties, taking listings, etc. - someone needs to stay on top of that deal in order to get it done!!

As far as an agent who has a buyer who makes an offer on a short sale? That is very difficult and I find the agent who writes the offer for the buyer oftentimes gets a bad wrap!! Their hands are tied. Only the listing agent (or loss mitigation company) has permission to speak with the bank directly to obtain information. Therefore, the buyer often gets frustrated at the lack of communication which really originates from the listing agents side.

Another reason I hire a the loss mitigation specialist. They respond to each one of my buyer's representatives so as to keep the buyer informed. Otherwise, the buyer will walk if they feel nothing his happening.

I hope this helped.

Thank you,
Lisa M. Brodeur
(954) 868-1416
http://www.AllianceRealtyFlorida.com
0 votes
Jose Castillo…, Agent, Hollywood, FL
Mon Apr 6, 2009
in answer to your question no not every realtor knows how to handle short sales.
It is more difficult on the listing side but buyers agents should know the process well also.

I have been involved in many short sales and foreclosures if you need help please contact me directly. I will do my best to help you.

Jose Castillo
Coral Shores Realty
954-240-3940 or josesellsfl@yahoo.com
Web Reference:  http://www.JoseSellsFl.com
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Apr 6, 2009
Are you talking about a listing agent ? If so no

If you asking about a buyers agent - actually no differenct than any other sales offer.

DRAMA is always involved with a short sale or foreclosure AT NO FAULT to listing / buyers agent, how bank does business.

Lynn911
~ National Featured Realtor and Consultant, Lecturer regarding Credit Repair, Mortgage Loan Officer
Web Reference:  http://www.lynn911.com
0 votes
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