Simple question, what normal frequency do seller's agent provide updates to buyers.....a common courtesy?

 

This is one thing that really bug me about people.  Have the common courtesy to keep your potential buyer informed, they are an integral part of the equation.  Is this so hard to do?  Is this too much to ask when you're asking a buyer to commit to the long term?  Regardless of the news, buyers are big boys and I don't think they're going to get their feelings hurt much.  Update them.

 

 

 

 

Views: 414

▶ Reply to This

Replies to This Discussion

Permalink Reply by Bryant Tutas on August 5, 2011 at 7:13am
I personally update the sellers and the buyers agent every week. There's nothing worse than being kept in the dark. I want the buyers to stay motivated.
Permalink Reply by Richard on August 5, 2011 at 8:45am
Wow Bryant!  That's real customer's service.  Hearing that makes a buyer want to move to Florida.  I must be living in a Looney Toon world here. Thanks for the response.
Permalink Reply by Richard on August 5, 2011 at 5:36pm

Thanks Brian.  I'm finding that the veteran and savvy agents are keeping everyone informed via a pre-planned system of processes or just through extra efforts.  From a buyer's standpoint, that really holds my interest.  It let's me know that someone cares a little about this transaction.  Even though the news may be minor, shows that you're still on the radar.

 

For the agents that don't know what's going on, either you learn or you ask somebody.  If they can't do either, should they be in this business?

Permalink Reply by Bryant Tutas on August 7, 2011 at 12:36am
Putting this in the newsletter today
Permalink Reply by Lindy Taylor on August 7, 2011 at 1:10am
I email the buyer's agent every Monday morning with any news, even if it's just a 'things are going as they should' response. Then I also call her in the phone whenever I get significant news, each and every time. this re-energizes them and keeps them in the loop.
Permalink Reply by Toby Boyce on August 7, 2011 at 1:32am
Richard - I actually have built into my Top Producer Short Sale Submission Plan to update the buyer's agent every six days -- the same schedule I have to call the bank for updates. Basically the goal is to keep everyone informed and moving forward. - Toby

Richard said:

Thanks Brian.  I'm finding that the veteran and savvy agents are keeping everyone informed via a pre-planned system of processes or just through extra efforts.  From a buyer's standpoint, that really holds my interest.  It let's me know that someone cares a little about this transaction.  Even though the news may be minor, shows that you're still on the radar.

 

For the agents that don't know what's going on, either you learn or you ask somebody.  If they can't do either, should they be in this business?

Permalink Reply by Eric Mieles on August 7, 2011 at 2:45am

I can understand the frustration. It does boggle my mind that agents would not want to keep the buyers agent up-to-date. I use SS Commander and I have a mandatory "Friday Follow Up" every single week. There are times when even at 11pm at night I have my team send out the Friday Follow Up.

It's MANDATORY for my team!!

Permalink Reply by Annette Whitehead on August 7, 2011 at 3:19am
I update all parties, every 7-10 days. Typically, I can submit the file within 2 days of contract execution & give the expectation upfront to avoid or reduce as much frustration as possible.
Permalink Reply by Norene Williams on August 7, 2011 at 5:18am

I can't imagine an agent not letting the buyer know what is going on.  How do they know if the buyer is hangin in there?  I expect an update from the bank - even though I know have to call them because they sure are not going to call me, but when I do call them I let the buyer and the seller know what is going on.  If it is not my listing, I expect the listing agent to  update me weekly or I will be calling them!

 

Permalink Reply by Richard on August 7, 2011 at 7:56am
Thank you Bryant for puting this question in the newsletter!  And also, thank you Bryant, Brian, Lindy, Toby, Eric, Annette, and Norene for the great response.  It's great hearing directly from the industry itself where everything is so dependent upon getting the job done.  With a 1/3 or more of the properties listed as short sales, it seems to me getting updates to the buyer is one of the easiest and more honorble ways of keeping their trust.
Permalink Reply by Bryant Tutas on August 7, 2011 at 8:03am
Your welcome Richard
Permalink Reply by Thom Colby CA Brkr 888-391-5245 on August 7, 2011 at 8:08am

I call the banks every Wednesday morning and the Selling Agents every Wednesday afternoon whether I have any updates or not.  I think it's important to keep the bond with the Buyer's agent strong and build that relationship more every week.  Silence or lack of communication will cause the Buyer's agent and the Buyer to keep looking.  Information and updates will keep them committed.

 

Cheers,

Thom Colby

Broker

Newport Beach CA

RSS

Members

© 2024   Created by Short Sale Superstars LLC.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************