Community Service for Realtors - Working Short Sales

By
Real Estate Agent with Coldwell Banker Vanguard Realty

Short Sale Home for SaleBryant Tutas wrote a post on why he worked short sales. His testimonials alone make his case. It inspired me to write about how I feel about short sales. Here's my comment:

Bryant, I think of short sales as a type of community service. Yes we're being paid, but often our commission has been reduced, and it is at least three times (maybe 10!) as arduous to get a short sale to closing than a normal sale. The more homes we can save from being abandoned, the better off our neighborhoods, local government, state government and economy will be.

People are in financial trouble and they don't understand their options or how to proceed. Read Bryant's Comments and you will see other agents whose sellers believe they were an answer to prayer, saved them from worse financial straits, etc.

Folks, (to quote Bryant), people don't even know what a short sale is. That's right, after all the hype all over the media, we are still asked, "Now, just exactly what is a short sale?" On a regular basis, no kidding.

We work for months and the buyer bails - it happened on the beautiful home above. We were within weeks of an answer from the infamous Countrywide, no less! Third level negotiator, requesting updated financials, BPO looked good, corresponding with us every day or so - we were CLOSE - but they were getting married and the wedding wouldn't wait, so they walked. Four months down the drain. Endless hours of holding on the phone, faxing and re-faxing the package, updating the Sellers, the buyers, all for naught.

Did we give up? NO! It went back on the market and we have another contract, starting from square one.

Some people will argue that we get paid, so how can I call it Community Service. Because those of us who work short sales and know how to bring them to closing are doing our part to level out the housing market and that is serving our communities. Just last week I ran into an agent who has been in the business a long time and was just closing her first short sale. She told me that she has avoided them. There are many agents who don't want the heartache and frustration that goes along with this type of transaction. It takes relentless perseverance, along with a lot of other skills, and it is not every agent's 'cup of tea.'

So when you've had a rough day doing your part to help the housing market recover and have to make the choice to laugh or cry, head on over to Bryant and Wendy's new web site - the perfect place to cry vent with humor laugh.

Original Photography, All Rights Reserved. *Community Service for Realtors - Working Short Sales*

 

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About the Author: Sharon Alters works with her husband, Frank. They are in the top 5% real estate agents for production in the Jacksonville Florida area, specializing in Military and Corporate Relocation in the Fleming Island, Orange Park, St. Johns, St. Augustine and Beaches areas. Their local knowledge can help Relocating Buyers find the perfect lifestyle, whether it is a Castle on the Ocean, or a Cottage in the Country. 

Call/text 904-673-2308 or sharon@teamalters.com

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Rainer
34,829
Keith Burke
Coldwell Banker Brown Realtors - Belleville, IL

Sharon,

Excellent post! I'll be working on my first Short Sale next week.  I'm looking forward to the challenge! Have a great day!

Sep 27, 2009 05:37 AM #1
Rainmaker
911,044
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

I like working short sales because there are so many Realtors in my area that know much about them and you get to help people that really need it.

Sep 27, 2009 07:23 AM #2
Rainmaker
978,242
Sharon Alters
Coldwell Banker Vanguard Realty - Fleming Island, FL
Your Fleming Island Relocation Agents.

Keith, thank you. I wish you the best with your short sale. They are a challenge!

Sep 27, 2009 01:01 PM #3
Rainmaker
978,242
Sharon Alters
Coldwell Banker Vanguard Realty - Fleming Island, FL
Your Fleming Island Relocation Agents.

Bill, it is helping the people that makes it worth it. Thanks for stopping by.

Sep 27, 2009 01:02 PM #4
Rainmaker
239,207
Gene Allen
Resh Realty Group - Virginia Beach, VA
Realtor Hampton Roads Real Estate

I work hard to keep my buyers away from short sales.  Had two this year and they both worked but what a hassle.

Sep 29, 2009 04:36 PM #5
Rainmaker
239,207
Gene Allen
Resh Realty Group - Virginia Beach, VA
Realtor Hampton Roads Real Estate

I work hard to keep my buyers away from short sales.  Had two this year and they both worked but what a hassle.

Sep 29, 2009 06:24 PM #6
Rainmaker
978,242
Sharon Alters
Coldwell Banker Vanguard Realty - Fleming Island, FL
Your Fleming Island Relocation Agents.

Gene, if you live in Florida, it is very difficult to avoid them. Over half our business is short sales this year.

Sep 30, 2009 11:44 AM #7
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Rainmaker
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Sharon Alters

Your Fleming Island Relocation Agents.
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