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Rainmaker
850,070
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

The residual harm done to the seller caused by the choices the buyer makes is significant and it is my responsibly as the listing agent, to protect the seller.

Of course the lender can not share confidential information but they better be willing the share the level of verification, the status of document submission, the stage in underwriting and even better, a financial penalty paid by the lender or buyer when they miss the closing date.

It is the listing agent and the seller who inherit the enduring damage caused by the buyers agent who chooses to not be proactive. Because of this, listing agents find themselves doing the job on both sides.

How far does that right extend? Seven feet short of calling the buyers mother to assess if they were responsible as a child. 

Of course the option available to the buyer to use a lender known to be reliable and competive in the local market solves the issue entirely. 

Jan 14, 2015 12:04 AM
Rainer
19,838
Cindy Dudley
Brockway Realty, LLC - League City, TX

I am always in contact with the Buyers' lender from offer to closing. My experience is that most delays with closing are usually related to the buyers' financing for any of a number of reasons from qualifications to appraisal. I speak to the processor along the way sometimes more often than the cooperating agent.

Jan 13, 2015 11:29 PM
Rainmaker
153,042
Nancy Hankin
RE/MAX Real Estate Consultants - Palm Springs, CA

Every right and it extends until the property closes.

Jan 13, 2015 11:08 PM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Removing the lender is NOT within the right of the listing agent - to best of my knowledge.

Aug 20, 2017 11:12 PM
Rainmaker
926,706
Ron Marshall
Marshall Enterprises - Saint Michael, MN
Birdhouse Builder Extraordinaire

I love Annette Lawrence's answer, and I think she is totally right...especially the part about the buyer's mother!!!

Jan 17, 2015 12:22 AM
Rainmaker
1,226,331
John G. Johnston
John G. Johnston & Associates, LLC - Westcliffe, CO
An Exclusive Buyer's Agent ~ Westcliffe, CO

Christina  I'm a broker and so is the other agent.  She was simply trying to cancel the sale...either because she had another buyer in the wings or she wants to sell all her own listings.  Even at the closing table she tried to cancel the sale!  Two of my clients have filed complaints against her.  Thanks for commenting and enjoy your day!

Jan 16, 2015 11:59 AM
Rainer
87,333
Christina Botteri
REeBroker - Roseville, CA

Wow, John. That's pretty outrageous behavior on the part of that broker.

If you have a clear example of this guy interfering with deals, then talk with your broker and maybe the two can have a 'heart-to-heart' about healthy boundaries.

Look: the Listing Agent has no standing whatsoever to decide what lender the Buyers will use; and any Lender that is 'messed with' should tell that guy to shove it. Period.

And, if the behavior continues, talk with your broker about filing an Ethics complaint first, then discuss filing a complaint with your state's Department of Real Estate.

Jan 15, 2015 02:12 AM
Ambassador
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Yes a seller's agent can contact the buyer's lender. The lender must be careful to remember who he/she represents, though, and not convey any confidential information. I recently had a case where the seller's agent went overboard with this. Calling my buyer's lender several times a day to try to speed up the closing was in really bad form. 

Jan 14, 2015 08:50 AM
Rainmaker
3,265,089
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

YES it is a listing agents duty to make sure the pre-qual letter is real and to get an insight into the buyer but it is NOT at all right to try to interfere with the relationship between the buyer and their loan officer.

Jan 14, 2015 04:47 AM
Rainer
87,333
Christina Botteri
REeBroker - Roseville, CA

Boy, your question really got my attention for some reason.

As Agents, we are bound to advise and inform our clients as to their options throughout the process of buying or selling a home.  That includes offering to them the option to inquire further as to the ability of the Buyers to complete the transaction.

When I represent Buyers, I will offer to connect the Listing Agent to my Buyers' Loan Officer, so that the two can discuss the status loan at any time.  Doing so fosters confidence and trust amongst the Parties (ie. the Buyers and Sellers), making for a smoother escrow.

But does the Agent have a "right?" That's a pretty strong word.  While I believe Best Practices require Listing Agents to ask to talk to the Buyers' Lender, there is no "Right" - unless it is stipulated in the Offer.

Jan 14, 2015 03:01 AM
Ambassador
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Certainly there may be some information that must remain confidential but I think as Listing Agent I have the right to protect my clients and verify information with the buyer's lender AND stay in touch throughout, including having communication with the processor. If the lender were unwilling, well, that makes me pretty uneasy. It has not been an issue

Jan 14, 2015 12:00 AM
Rainer
279,648
Dipti Thakkar
LAER Realty Partners - Andover, MA
On a team with Praful Thakkar

Learning from other answers.

May 24, 2018 11:07 PM
Rainmaker
629,901
Ajay Pandya
e-Merge Real Estate - Columbus, OH
Realtor Ajay Pandya

This is to protect seller's interest for sure.

Jan 14, 2018 08:55 PM
Rainmaker
4,799,256
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

No, they don't.

Oct 20, 2017 06:41 AM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Was the lender not performing in a timely manner?

Oct 14, 2017 11:14 PM
Ambassador
3,986,094
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

If the seller is affected negatively then yes the listing agent has a right to protest. The agent may not get anywhere with it but the seller's position will be made known.

Jun 17, 2017 09:52 AM
Rainmaker
1,226,331
John G. Johnston
John G. Johnston & Associates, LLC - Westcliffe, CO
An Exclusive Buyer's Agent ~ Westcliffe, CO

Ron  My question originated from a listing agent that did everything to stop the sell, including harassing the lender.  She had another buyer that she wanted to get it.  As always, thanks for commenting and enjoy your day!

Jan 17, 2015 11:09 AM
Rainmaker
1,226,331
John G. Johnston
John G. Johnston & Associates, LLC - Westcliffe, CO
An Exclusive Buyer's Agent ~ Westcliffe, CO

Scott & Debbie  The interference by the listing broker is really the problem I was faced with for this client.  We were ready to close 3 days early and they still tried to stop the sale.  Safe bet they had another buyer.

Jan 14, 2015 10:29 AM
Rainmaker
1,226,331
John G. Johnston
John G. Johnston & Associates, LLC - Westcliffe, CO
An Exclusive Buyer's Agent ~ Westcliffe, CO

Nancy, Cindy, Jeff, Annette and Christina  THANKS for your comments.  I should have clarified my question because we have a local broker that wants to sell ALL their properties.  TRANSLATE:  They will do whatever to kill a deal from another agent including 'messing' with the lender.  Does a listing agent have the 'right' to attempt to 'discourage' the lender from making a loan?  I guess I know the answer but how do you deal with it?  

Jan 14, 2015 03:47 AM