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Wellington FL Short Sales: Communication is Key!

Wellington FL Short Sales:  Communication is Key!

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

As a REALTOR in Wellington Florida 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 Wellington 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 short sale 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 Wellington 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 Wellington home buyers could probably go the first week or two with no update or communication from their Wellington short sale 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 Wellington short sale transaction.  There are several Wellington Short Sale Agents to choose from, make sure you hire an experienced agent to guide you through the process.

 

Michelle Gibson REALTOR®
HANSEN REAL ESTATE GROUP INC.
561.333.0446


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Comment balloon 38 commentsMichelle Gibson • April 28 2011 12:30PM

Comments

Very well said, Michelle.  Short sales are stressful enough without sitting in the dark about what is going on.  A good realtor will keep the clients regularly informed.  It is so important.

Posted by Jane Peters, Connecting you to the L.A. real estate market (Home Jane Realty) over 7 years ago

Excellent points! I like your post and I thank you for sharing!

Posted by Sarasota & Manatee Counties FL, QuickFreeMLS.com - Listings In Paradise (SaraMana Properties - QuickFreeMLS.com) over 7 years ago

GREAT thoughts there Michelle. Communication is key in every part of real estate. Good job and thanks for the post. 

Posted by Drick Ward, "RealtorDrick" - Experienced Representation (NEPTUNE REALTY) over 7 years ago

Michelle - Right on target with this post. Communication is always key in any situation especially short sales.... Now if we could only get the attorney's to communicate with us better as well... just saying... lol

Posted by Robert Hammerstein, Bergen County NJ Real Estate (Keller Williams Valley Realty) over 7 years ago

Michelle - this is an excellent post regarding communication. Emotions can run high during the short sale process because pending foreclosure sale date, or a buyer backed out. Communication is key - to prepare the sellers (and buyers) for what to anticipate with the process. Suggest!

Posted by Sharon Paxson, Newport Beach Real Estate (Compass) over 7 years ago

Michelle

Communications are one of the biggest issues with short sales, we have to keep the lines of communications open if we want to successfully close the sale.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) over 7 years ago

Michelle - you are correct, and I would go a step farther and say that I could improve my communication on every sales, not just a short sale.

Posted by Larry Brewer - Benchmark Realty llc (Benchmark Realty LLc) over 7 years ago

Great post and great tips for both side to work by....

Posted by Cory Barbee, Broker (760) 563-4022 over 7 years ago

Yes, so true.. all me really provide is communication and clarification...

Posted by Michael (Mike) Robinson, CRS, CIPs, REALTOR (Broadmoor Realty, Inc.) over 7 years ago

It's funny how thew biggest complaint is the one thing that is so easy to do. I will never undesrstand why agents work so hard to get buyers and sellers and then when they do they don't communicate with them.

It's even easier today with all of the automatic systems that are available. Buyers and sellers don't really need to talk to us they just want to know what's going on.

Posted by Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) over 7 years ago

Yeah, communication is good, but too bad many agents don't do it. When it's like pulling teeth to get every little bit of information from a listing agent because you want to write an offer on a short sale, it's usually best to pass and keep looking. Many agent should just not list short sales. I continually run into agents with short sale listings that don't have a clue as what they are doing. ( And it takes a lot more than communication to stay on top of short sales).

Posted by Jeff Pearl over 7 years ago

I couldn't agree more.  Particularly in short sales, which can be such a morass anyway, constant communication is the key for both sides.

Posted by Alan May, Helping you find your way home. (Coldwell Banker Residential) over 7 years ago

Communication is huge but more importantly is handling the file on a timely basis with the Bank/Loan Servicer helps also.

Posted by Barb Van Stensel over 7 years ago

Hi Michelle!  As everyone else, I agree wholeheartedly!  I believe that has salvaged many short sale deals for me because if I keep them happy (the buyers), they will hold on for the life of the negotiation process.  You're absolutely spot-on that this is key to a successful closing.  

We have agents who get the Contract, send it in and then the buyer's agent, the buyer and the seller never hear another word from them--until the bank responds with a counter or acceptance.  It's very frustrating to those involved and Bryant is right--there's simply NO excuse for not communicating.  Not only having the automated systems in place but, how long does it take to type out a 20-second email to say, "Nothing yet from the bank this week; still working diligently to get this through for you."  Okay, I just answered my own question!!  :-)

 

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) over 7 years ago

Agreed!  Communicaton is part of Follow Up and we should ensure we build the good habit of updating the seller and the buyer side on a regular basis, ideally weekly. Since not every agent does it, those that do will look like superstars to their clients and fellow agents.

Posted by Kevin O'Rourke - Keller Williams Miami Beach Realtor, CDPE Miami Short Sale Agent 305-520-9436 (Keller Williams Miami Beach Realty) over 7 years ago

It is so easy to stay in touch these days there really is no excuse for not doing so. It is not only lazy and unprofessional,but even more of a concern is that if a short sale isn't handled correctly then foreclosure follows. That should never be allowed to happen if we handle a short sale correctly. By educating the sellers and ensuring the price will attract a motivated buyer then by following up dilligently, not only with the sellers but the buyer agent, attorneys AND lenders.

It is our duty to do our absolute best for our clients and if you take on a short sale you better be absolutely sure you know what you are doing, as it will have an enormous effect on your clients life if you don't.

Posted by Vanessa Saunders over 7 years ago

Weekly followup really does work.  I let the client pick the method that works best for them and make a standing appointment as to the day of the week I will contact them.  If it is by phone I try to pin down a time frame. 

Posted by Phil Hillerman, Crye-Leike Realtors® (Crye-Leike Realtors®) over 7 years ago

You're absolutely right, Michelle! There is no excuse or good reason for lack of communication simply because there is no news...the short note saying, "no change this week" makes all the difference in the world to short sale buyers! :)

Leilani

Posted by Bob & Leilani Souza, Greater Sacramento Area Homes, Land & Investments (Souza Realty 916.408.5500) over 7 years ago

one of the issues that I do see is that when things go wrong...no matter how well you tell the client to be prepared...they tend to blame the agent.

Posted by Jeffrey DiMuria 321.223.6253 Waves Realty, Florida Space Coast Homes (Waves Realty) over 7 years ago

Yippee! A feature post! Congratulations! Short sales are so difficult. I'm so thankful I don't have any of those now. I did two a few years ago. Not much of that in our area.

Posted by Lizette Fitzpatrick, Lizette Realty, Lexington KY MLS - Kentucky Homes (Lizette Realty - Richmond KY) over 7 years ago

Right on! Communication is very important and also a short sale package with all the neccessary documents will have the bank calling less to get the required forms and speed up the process.

 

Posted by Goran Utvic, We Buy & Sell Chicago Houses Fast (606 Homes LLC | Chicagoland Brokers Inc, Chicago IL 60656) over 7 years ago

I do not know why there are so many agents who fail in the communication area; it seems as if good communication in all aspects of real estate should be a no brainer.

Posted by Melissa Zavala, Broker, Escondido Real Estate, San Diego County (Broadpoint Properties) over 7 years ago

Michelle, Very good post, communication is key in all transactions but especially in short sales!

 

Posted by Tony & Darcy Cannon, The C Team (Aubrey and Associates Realty) over 7 years ago

I think an update every 7 -10 days is essential.  Short sale listing agents can do better in this regard.  I've heard horror stories like their offer is in the abyss.  Communication IS key.

Great blog.

Posted by Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879 (Mint Properties, Lic. #01871795) over 7 years ago

I agree 100 % . . I find most people rather prefer to hear bad news than hearing NO NEWS. . 

I report to my clients every single Monday. .that is my day to face them in a weekly basis.

Posted by Fernando Herboso - Broker for Maxus Realty Group, 301-246-0001 Serving Maryland, DC and Northern VA (Maxus Realty Group - Broker 301-246-0001) over 7 years ago

Not just short sales but all transactions!  I have one right now where I wish the REO agent would communicate.  Yesterday I felt like I was in an empty hallway:  "We have no utilities on!"  :echo echo echo:

Posted by Renée Donohue, Las Vegas Real Estate Broker - www.urLVhome.com (Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate) over 7 years ago

Good point, Michelle. Both parties need to understand the expectation of the process. It takes 2 to tango. Great post.

Posted by Mike Yeo (3:16 team REALTY) over 7 years ago

Jane - I completely agree

Quick - You're welcome

Drick - Yes it is

Robert - That would be AWESOME

Sharon - I couldn't agree with you more

Lou - Yes it is and I'm amazed by how many short sale listing agents get annoyed by how often I follow up.

Larry - Yes we can

Cory - Thanks

Michael - Yep

BB - I won't understand it either especially since real estate is about building relationships and referrals.  Do agents really expect to be referred or have a past client use them again if they did an average or below average job?

Jeff - It is too bad and I interview short sale agents prior to even showing their listing.  

Alan - Communication goes along way

Barb - Absolutely and I often wonder how much communication a short sale listing agent has with the bank when they can't even return my call or e-mail in a timely manner.

Debe - I've been in that unknown situation before and buyers will disappear if there is no communication.

Kevin - I think any of my clients who worked with other agents prior to me might want to take out a restraining because I'm always updating them.

Vanessa- It is SO easy to stay in touch, phone, e-mail, instant messaging, texting and you are spot on that short sale listing agents better know what they're doing.

Phil - I let them chose too, most prefer e-mail, but some do want to be called.

Leilani- It makes a HUGE difference and usually puts everyones mind at ease.

Jeffrey - I definitely think we're the fall guy too often

Lizette - Thanks!!!  You're lucky

Goran - Absolutely

Melissa - You would think

Tony - Thank You!

Tni - I completely agree

Fernando - I agree that any news is better than no news

Posted by Michelle Gibson, REALTOR (Hansen Real Estate Group Inc. ) over 7 years ago

Renee - I had a REO agent say you don't need to contact me every hour when it was days since my last contact. 

Mike - Yes it does

Posted by Michelle Gibson, REALTOR (Hansen Real Estate Group Inc. ) over 7 years ago

Hi Michelle - THis is a fantasic post, and I hope you wont mind if I reblog it. I think communication is generally lacking in most transactions, and I'm as guilty as most sometimes, even though I know better.

Posted by Larry Brewer - Benchmark Realty llc (Benchmark Realty LLc) over 7 years ago

Very good information Michelle, thanks for posting.

Posted by Jeanne M. Gavish, Keller Williams Realty Elite Partners - CIPS,GRI,S (Jeanne Gavish, Keller Williams Realty Elite Partners) over 7 years ago

When I read through my reviews from clients, the ability to communicate pops up constantly. I'd say that's the number one thing clients want from us, and it's the easiest thing to give them. Not only that, but they want a fast response time to their own questions. I tend to respond immediately but only because I am of a certain age and would most likely forget if I did otherwise.

There is no such thing as over communication. And certainly NOT in a short sale.

Posted by Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents, Put 40 years of experience to work for you (Lyon Real Estate) over 7 years ago

Spot on... I use the weekly communication as a note process for how the file is progressing. It keeps me on target.

Updates to the parties involved are carried forward from the last update with the date in the headline... this also helps me -- all I have to do is pull up the last update and see exactly what has been done on the file so far and continue on. Works wonders when you are handling multiple short sales.

 

 

 

 

Posted by Paul Francis, Las Vegas Real Estate Agent - Summerlin Homes (Francis Group Real Estate) over 7 years ago

Rumors abound in this business because of poor communications....I will tell all parties what is going and see if we are all on the same page so that we have a sense of forward movement and working together....This industry is being re-defined and staying in touch benefits all...good post and host thank you

Posted by Richie Alan Naggar, agent & author (people first...then business Ran Right Realty ) over 7 years ago

Michelle, I agree education and communication is key. Good communication can often alleviate a lot of anxiety.

Posted by Michael Setunsky, Your Commercial Real Estate Link to Northern VA over 7 years ago

Larry- Thanks for the reblog

Jeanne - You're welcome!

Elizabeth - I noticed that too

Paul - Good organization and communication makes a world of a difference.

Richie - Thanks

Michael - Absolutely

Posted by Michelle Gibson, REALTOR (Hansen Real Estate Group Inc. ) over 7 years ago

And even when all the communication is there, short sales can still be stressful, to the agents, too!

Posted by Jim Frimmer, Realtor & CDPE, Mission Valley specialist (HomeSmart Realty West) over 7 years ago

Jim - That is soooo true

Posted by Michelle Gibson, REALTOR (Hansen Real Estate Group Inc. ) over 7 years ago

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