San Jose short sale agent is frequently asked: What would you do?

By
Real Estate Broker/Owner with KD Realty - 408.972.1822 CA BRE#01366594

San Jose short sale agent is frequently asked: What would you do?

 

I am frequently asked: What would you do?

 

person with question mark over their head

 

My role as a San Jose real estate agent and San Jose short sale agent is to advise, inform, educate, consult, direct, refer, manage, monitor, escalate, negotiate, follow-up, follow-through, schedule, confirm, communicate, and the list goes on and on. 

 

The one thing I cannot, will not, do is make decisions for my clients. When it comes to property and termite inspectors, choice of title companies and escrow officers, third party providers for statutory natural hazards, geological, and tax data, and HOA document reviews, I am expected to know who to recommend, or choose, and I do.  I am completely comfortable and confident recommending and using the best resources I know in the business.

 

I will recommend offer price, price reductions, things homeowners can do to prepare their home for sale, to keep their home in showing condition, recommend full cooperation with agents who want to show the property … and the list goes on and on.

 

When I am asked a legal question or a tax question I recommend my client consult with an attorney or CPA to get answers to their legal and tax questions.  I will recommend a CPA, real estate attorney, bankruptcy attorney, or any other professional my client my need to consult. 

 

Home buyers and home sellers, including San Jose short sales, have a role to play in the process.  Clearly a San Jose real estate agent plays a huge role in serving their client’s needs. 

 

However, when I am asked specific and direct questions like:

1.    Should I short sale my home?

2.   Should I let the home go into foreclosure?

3.   Should I stop making my mortgage payment(s)?

4.   Will I have to pay taxes?

 

My response is never a “yes” or “no” response.  My job is to provide all the information and resources to my clients so that the client makes an informed decision to short sale their home; allow their property to be foreclosed; or stop making their mortgage payments. It is not my role or my job to make these decisions for anyone!

 

Regarding taxes:  I am not a CPA and I am not licensed to give tax advice.  I will provide the guidelines regarding lenders issuing 1099’s on short sales; discuss the debt forgiveness program which is scheduled to sunset 12/31/2012; and provide referrals to all the professional resources necessary. 

 

Pushing question markOnce I know the person has done their homework and completed their own due diligence, and have reached the place of making their own decision, I will then ask:  What do YOU want to do?

 

 

 

San Jose short sale agent is frequently asked: What would you do?

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Topic:
Home Selling
Location:
California Santa Clara County San Jose
Groups:
Hyper-Local
Realtors®
Posts to Localism
Addicted to Active Rain
BananaTude
Tags:
legal advice
tax advice
san jose homes for sale
foreclosure
short sale
san jose real estate agent
san jose short sale agents

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Rainmaker
1,475,655
Rebecca Gaujot, the GO TO REALTOR
Coldwell Banker Stuart & Watts Real Estate - Lewisburg, WV
Lewisburg WV Real Estate, Greenbrier County

Kathleen, I agree!  We are not attorneys, CPAs, etc we are Realtors and there to provide all the information we can to help clients make the right decision for themselves.  Suggested.

Jun 03, 2012 01:04 PM #1
Rainmaker
477,454
Patty Da Silva, Davie, Southwest Ranches Cooper City, Plantation, Weston, REALTOR
BROKER of Green Realty Properties® - 954-667-7253 - Davie, FL
Top Listing Broker

Kathleen,

I do all of that but in Broward County, South Florida!

Giving seller information and tool for THEM to make a decision has always been the way I practice as well.

 

Jun 03, 2012 04:21 PM #2
Rainmaker
663,721
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

Kathleen

All I can give them are resources to help them with their decision-making. But they have to make those decisions.

Good post.

Jun 03, 2012 05:39 PM #3
Rainmaker
405,546
Ellen Caruso
Daniel Gale Sotheby's International Realty - Glen Head, NY

Kathleen, I like your approach, never tell, only advise or direct to help them make the educated choice of whats right for them.

Jun 03, 2012 05:40 PM #4
Ambassador
1,367,112
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - San Jose Probate Agent

Rebecca, I am amazed at how many people expect me to answer their tax and legal questions.  Thanks for your comment.

Patty,  People call me and say things like “another agent told me I have to stop making my mortgage payments – is that true?”  You are the Queen of sale sales in Broward County, South Florida!

Pacita,  You are the short sale queen in Alameda County!  We are advisors … not decision makers!

Ellen, That is really all we can do. Once they decided what they want … we can get in to action and help them.

Jun 03, 2012 05:56 PM #5
Ambassador
1,366,651
Norma Toering
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes & Beach Cities Homes in L.A. CA

Educate and advise--that's our role, but let the homeowner decide whether to sell or not.  

Jun 03, 2012 07:35 PM #6
Rainmaker
729,869
Juli Vosmik
Dominion Real Estate Partners, LLC, Scottsdale, AZ - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Kathleen - your knowledge of the San Jose short sale process shows why sellers considering a short sale should work with you.  You give them the information and the resources to make an informed decision.  More importantly, you give San Jose homeowners a chance to move on and get a fresh start.  I've always said that a short sale is not a "get out of jail free" card - it takes hard work on behalf of the homeowner and a smart, experienced short sale agent like Kathleen Daniels to get the job done.  But, in the end, it is up to the home owner.

Jun 03, 2012 07:41 PM #7
Rainmaker
922,031
Lottie Kendall
Today | Sotheby's International Realty - San Carlos, CA
Serving San Mateo County and San Francisco

Kathleen, I second the "suggestion." You are a wise woman who knows how best to help San Jose area homeowners.

Jun 04, 2012 04:36 AM #8
Rainmaker
894,968
Michael Setunsky
Michael's Commercial LLC - Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Kathleen, excellent advice! Our job is to provide information within our sole area of expertise so sellers can make an informed decision. Congratulations on the Featured Post! Well deserved!

Jun 04, 2012 06:19 AM #9
Rainmaker
259,904
Bruce Kunz
Bruce Kunz @ Veltri & Associates, 866-483-5874 x464 - Howell, NJ
REALTOR®, Howell NJ Homes for Sale

Well said, Kathleen, and absolutely agreed! Whether in San Jose or somewhere else REALTORS (like most other professionals) provide advise & choice - not decisions. It's solely up to the client to decide which solution is best for them.
Once that decision is made, we move can forward with more advice and support through the processes.
Bruce

Jun 04, 2012 06:41 AM #10
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1,367,112
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - San Jose Probate Agent

Norma, It’s a fine line we walk …there have been a few times where I have said “I’m not going there with you” meaning this decision is YOURS and yours alone. It’s not about what I would do … because I am not the one doing this right here, right now. 

Juli, Thank you so much! Short sales definitely are not “get out of jail free” cards.  Buyers, Sellers, agents and negotiators all have a role to play and a job to do in order to get a short sale closed.  Granted it starts with the seller’s decision to hire me … but I definitely do not do it alone. 

Lottie, Thank you. It appears to have worked.  Thanks for your kind words.  We all enjoyed the coveted Featured Post. 

Michael, Even knowing the laws and programs regarding debt forgiveness, etc. we cannot definitively say to anyone … you will have to pay or you won’t have to pay.  It needs to come from a licensed tax advisor. Thank you.

Bruce, Especially dealing with homeowners in financial distress, I always start with their end goal in mind. Ideally, what would you like to see happen … what do you want?  That is the starting point. Thanks for your comment.

Jun 04, 2012 07:43 AM #11
Rainmaker
570,048
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Kathleen,   Terrific review of highest/best practises for agents.  Scary to hear agents going well beyond our limited area of expertise !

Jun 04, 2012 09:17 AM #12
Rainmaker
564,406
Gary Frimann
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
California Broker and REALTOR

Kathleen, great post.  I have seen and heard of too many agents that seem to give advice where it crosses the line on especially when it comes to taxes and/or breaching a contract (non-performing on the note).  That is just reckless.  I have a hunch a ton of lawsuits are going to be filed in the next few years.

Jun 05, 2012 09:05 AM #13
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1,367,112
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - San Jose Probate Agent

Bill,  It is scary ... for the agents and for those who receive the information which may, or may not, be accurate or apply. Thanks for stopping by.  

Gary, I tend to agree with you about the lawsuits.  The attorneys will be the next in line to profit from the mess we are now attempting to clean up.  Thanks for your comment.

 

Jun 05, 2012 02:07 PM #14
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