Philadelphia, Bucks and Montgomery Counties Real Estate. Tips for home buyers, home sellers by Gita Bantwal,Realtor at Re/Max Centre Realtors.: I don't show short sale properties to my clients...

I don't show short sale properties to my clients...

This post should be read by other agents. Short sales take long to be approved in many cases. It is the agent's job to explain how short sales work and see if the buyer wants to look at them.If the buyer decides they want to look at them the agent can refer the buyer to another agent and be honest with the buyer that they do not want to show short sales. We have to show buyers all homes that they want to see .

I've heard many real estate agents say this and I wonder if they are not showing their clients short sales because they don't want to deal with short sales or if their buyers have made the choice to eliminate them from their home search.

If agents choose to exclude short sales regardless what their client wants, does that violate the Exclusive Right-To-Buy Listing Contract?  What if the agent eliminates short sale properties that match a buyer's criteria and the buyer never chose to exclude short sales from their search?  The agent may feel they are saving their buyer time and protecting their buyer, but are they? 

Shouldn't be the buyer's choice when it comes to viewing short sale listings?

There are situations where most short sales clearly do not work for buyers.  If the buyer is in a time crunch has to find a place quickly due to a lease expiring and renting month to month is not an option, pursuing short sales is probably not a good idea.  There are cases where a buyer really likes a short sale property but doesn't have time to play the waiting game.  The agent can always take the time find out more information in the chance it may work out.  Maybe the short sale was recently approved right after the previous buyer walked away and the process can move quickly with another buyer.

Whether they are afraid of them, hate dealing with them, or do not have the knowledge to work them, agents who do not want to show buyers short sales need to make it clear to their buyer that they do not show short sale properties.  If the buyer still wants to view short sales, the real estate agent needs to refer the buyer to another qualified agent. 

The short sales that are on the market will not sell if agents refuse to show them! 

Agents need to do what is right for their client and show properties that align with the buyer's needs regardless if it is a short sale. 



Patricia Beck – Selling Colorado Springs Homes

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Gita Bantwal is a Realtor with RE/MAX Centre Realtors in Bucks County, a Northern suburb of Philadelphia. You can view 1000s of listings on her web site www.GitaBantwal.com

 

She can be reached at 215-343-8200x124 or direct 215-275-8491 or via email gita01@aol.com

If you would like a FREE MARKET EVALUATION OF YOUR HOME IN PHILADELPHIA, BUCKS or MONTGOMERY COUNTY call me at 2152758491

 Gita specializes in Active adult communities and is a Seniors Real Estate Specialist. She holds the ABR designation (Accredited Buyers Representative) and specializes in selling to first time buyers as well as move up buyers.Gita also hold the CRS designation , Certified Residential Specialist and the CDPE designation as well. Information about real estate market is deemed to be correct but is subject to errors and omissions and should be verified independently.. Opinion expressed by me or others  in my post and comments is not to be construed to be  legal advice.I am licensed in Pa. Check real estate laws in your state as they may be different than in Pa.

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Comment balloon 11 commentsGita Bantwal • December 11 2010 06:55AM

Comments

Home buyers should be very selective when making offers on short sale properties. If the price is too good to be true, they may not receive lender approval.

 Happy Holidays!

Decorations at the Brandywine River Museum

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) about 8 years ago

Thanks Gita for the re-post.  I believe the client should be making the decision after he or she is informed of the advantages and disadvantages of buying a short sale.

Posted by Melissa Juarez (Massachusetts Buyers Broker Agency, LLC) about 8 years ago

Roy and Melissa, Thank you for the comments.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) about 8 years ago

Good reblog.  Should be a discussion between between buyer and buyers agent.  It is a mistake perhaps to strike out all of the properties as there could be some good deals but also short sales might not fit into the buyers criteria either.  So it just would depend on the specific buyer.

Posted by The Somers Team, Real People. Real Dreams. Real Estate. (The Somers Team at RE/MAX Access) about 8 years ago

Gita - thanks for the info.  I'm open to showing short sales, and foreclosures, once everyone knows what the specifics are for each type of title status.

Posted by Carol Zingone, Global Realtor in Jax Beach, FL - ABR, CRS, CIPS (Berkshire Hathaway Home Services Florida Network Realty) about 8 years ago

Gita, good point, I think the clients should be deciding what they want to see, however if an agent feels that they are not properly experienced in short sales, they should refer the clients to an agent who is. Otherwise they are not correctly servicing their clients.

Hope you are staying warm and safe, we have snow that pretty much turned into ice and caused havoc on road travel.

Posted by Gerry Michaels, GettysburgGerry Social Meida (Glasswork Media Arts) about 8 years ago

Thanks, Gita.  This is something that should be brought to people's attention.  I just closed a short sale two days ago and I gave many many disclaimers on how we cann dictate the timeframe, lending issues, etc.  It was still difficult but they are very happy and got a lot of house in a lovely neighborhood for $90,000.

Posted by Barbara Chatterton, Greater Madison Wisconsin Area Realtor (The Stark Company Realtors, Madison WI) about 8 years ago

I had a few agents I know who said this, but with almost half of listings in some areas being either short sales or foreclosures, you really do a disservice to your buyer clients by eliminating them...

Posted by Kristin Johnston - REALTOR®, Giving Back With Each Home Sold! (RE/MAX Realty Center ) about 8 years ago

Good reblog Gita.  The original post had quite a few stroing opinions...my thoughts are to educate buyers on short sales and if they are still interested, show the property.  It may be their dream home!   

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (ColdwellBanker SSK Realtors ~ 478.960.8055) about 8 years ago

Chris and Stephanie, I agree . It would be upto the buyer to decide.

Carol, Buyers should know how short sales work.

Gerry, I am glad we have not yet had any snow.

Barbara, Congratulations on the sale.

Kristin, Agents should be willing to show short sales in such markets.

Anita, I agree.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) about 8 years ago

Buyer Agents who attempt to steer Buyers away from certain properties - particularly without advising the Buyers of that fact - are violating the Code of Ethics, and are quite possibly in line for criminal and/or civil legal consequences.

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) about 8 years ago

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