Lenders delay Responses, frustrate Agents.

I was reading a comment on Real Town today about an agent that couldn't get the bank(in this case Bank of America) to even respond to a short sale offer. She was upset and stated that she would not put a home on the market unless she had the terms of which the 2nd lien holder would take in the case of a short sale offer.

Without sounding stupid, but the listing price should do it! Find a buyer at full price. And if you can't, then the home is overpriced and you took an overpriced listing! To ask what in fact is the seller what they will take before an offer is made, well, makes no sense!

But in reality, the suggestion has great merit. We as agents should not let our sellers determine price if we think the market will not bear it. I don't mean a few thousand dollars in negotiations, but if a home has a price of 200k and it looks like comps would bring 160k, we should tell the bank 160k and let it go at that. Why work so hard? Only when banks get real about the market will this crisis go away. At present, they have thousands of agents willing to work for free or less than normal just to push their listings.

If you don't like your boss, stop complaining, find a new boss.