Central Florida Short Sales: 10 Things I Heard This Week, About Short Sales, That Suck.....

Heard some of it all as well.  New listing this week. First short sale where the seller attorney wanted to review my listing agreements before the seller signed them though.  Any real estate agent can sell a normal/standard listing but it takes work to sell a short sale.  It is a good thing to help a short seller.

Spoke to 2 short sale sellers this week. He asked, Why would you do Short Sales?

It is indeed a ministry, no matter what some may think.

Bry, I haven't done a short sale yet but I know one will find me.  We need to be out there for these people.  If not us, then who can provide the help.  The real estate business is quite tough these days and it takes a tough realtor to get through.  Along the way there is always the chance that we can help others get through as well.  Keep Similin'

BB, we still don't see or receive the entire picture with our customers but these statements get closer to what the reality is out there.  Loreena's description of it being a "ministry" of sorts is so true.

Very clever little presentation there. I've heard some funny things... but never anything that involved emergency rooms.

Well said.  At first I though you were speaking of yourself doing a short sale.   Short sales need a lot of patience.  And not every agent can sell a "normal" listing.  My issue is with agents that list short sales way way to low only to have the servicing lender counter back higher.  Buyers do not like that plan.

I am dealing with a short sale however have another professional who is negotiating and he mentioned short sale sucks....becauase the banks are idiots. He is frustrated since the entire package has been submitted 10 times and still demanding same docs.

# 10,  I though Obama was going to save my home!

Bill

You anwered your calling and Loreena is right--it is a ministry.  Our highest worth is in helping people.

Those comments break my heart. Especially the 60 year old.

It is a hard ministry that one can do. Not only helping with the transaction but also helping to manage their emotions.

This is why I help on short sales and loan mods.....It is horrible on the people involved.

OH my goodness, Bryant... This is heart breaking.  I know you will be able to help- I'm glad these people found you! Were all of the "10" things you heard followed by #11?  I hope so!

Yep, this is what I hear all the time. And I've been there, so I know how bad it feels. I'm in for the long haul, even on the days I want to quit. Heartbreaking. We have to be there for people.

BB:  This business is tough on the emotions ....

This short sale business is tough on the emotions. I hold lots of hands, pat lots of shoulders and hug those on the verge of tears. I'm sure that you BB, like me, hear these same sentiments over and over. These people are in pain. Their stories are all very similar. It's a feeling of helplessness and sadness.

I see it as our job to give them hope and then to live up to that promise of hope.

Because we are, indeed, and whether we like or not, the end of the road.

BB...

Ah, there's the light at the end of the tunnel. We may not be miracle workers, but we do what we can!

Wow, those are some tear jerkers (and some of them are heard more often than not).  I'm afraid it's going to be a while before Short Sales are thing of the past.

It's been 2008 since this meltdown started.  It's a long time to be hearing these things, which I'm sure you've heard since it all began.  Glad you are there to help!!

The drama of short sales.  Glad to see you our there helping people.  Awesome!

Short sales have a life of their own. People need the help and we should oblige them even though we may not like them.

Bryant, I heard one this morning. I went over to take pics of my new short sale listing. Basement is full of water (sump pump wasn't working). Called the clients. They said "Why should I leave the power on? I'm losing the house. I don't care."

The home owners in your neck of the woods are lucky to have you helping them through the short sale process! You're a good guy BB!

How very sad, but yet a reality of the current climate that we live in. If only the banks would make short sales easier.

Agreed, many of the things we hear are heartbreaking. I have to be strong enough for my family, my business, and some clients who can't do it alone. 

Bryant, I love your post. So true...the bulk of Short Sales do suck for the reasons why Sellers have to do them as your points show. Congratulations for making a difference in many Short Sale Sellers lives!

The satisfaction comes from when we actually close the sale and they are happy and relieved!

I am listing a short sale on Monday. It's really sad. At least my seller has a positive adittude.

Bryan ... I really really like this direct approach!  Very good!  I think I'm gonna flatter you and write something similar for my market!

It's tough to do business with short sales it can be emotionally draining.  I really admire agents who focus on the short sale market.

Mental and physical stress is standard procedure on just about every short sale.  It's a shame because it doesn't have to be that way. 

BB - All we can do is try to help these people.  There is so much distress as a result of what has gone on, and like you, I've heard many of these same things.

BB, it takes a special agent to help people in these situations. Thankfully they have you to get them through this.

How about my parents 72/78 lost their house to foreclosure after 3 buyers waiked out on the short sale, and the bank would give no further extensions.  So they put down one of the children (aka 13 year old dog) and moved into a rental, only to have 7 months after they moved in, a knock on the door.... yes an NOD was being served on the owner.  Who STOPPED making payment the second they moved in.  SUCKS

The best we can is here is can you try to help me.

Hi Bryant,

The pain is pretty wide spread these days.

Our best solutions are not removing the pain. They just ameliorate it.

Thanks for the post

Phil

How about. .

form a homeowner that did not make a payment in 18 months!

"My attorney wants $5,000 and he says he will save my house. . please take it off the market today!"

Sad story Susan.

Short sales are very challenging but also very rewarding. It feels good to be able to help folks through a difficult time in their lives.

Thanks for stopping by!!!

I think it's great that you are helping people.  Short sales are tough!!

Yeppers... after three years of doing short sales... I've come across all of these statements at one time or another. Precisely why I tell other agents not to get into doing short sales just for the money.

I heard some of those this week as well. And by the sounds of it, Mass is only getting started! Interesting enough, I just took a class on short sales in order to also respond: "Yes, I can help"! : )

That is the best part!

Bryant, the challenges and emotions involved in a short sale does make them suck.

Bryant, Interesting yet understandable.  My latest short sale said #3... "I feel like a loser."  She lost her job do to complications from a pregnancy and having to deal with issues after the birth of her daughter.  
We are working through the Short Sale and she now realizes that the health of her daughter is more important than a house. 

This is tough to read. It is about truly helping people out.                              

I am working two short sales right now. It can be so difficult when you like the parties involved and see just how this affects their lives.

great post showing a side that I never see...

from the buyers angle, we only see that the short sale seller wants to take all the fixtures...interesting point of view.

Eve in Orlando

10. The bank would not take a short sale with a $159,000 sales price but just sold the condo at auction for $90,000... Brilliance

HI BB - I've heard all of those (except the attorney one, think goodness) and I've heard some more.  The effect on marriages is devastating and somethingthat is not discussed enough.  I kow of several of my past short sale sellers who divorced eith er during or shortly after the process.  There ought to be some personal counseling required in addition to the handholding I can give. I don't know who would pay for it, but the stress for families is overwhelming.

Every sellers situation is different, many brought on the short sale scenario themselves. Others have a legitimate reason for having to short sale. They all should consult an attorney. There was a report recently on tv saying lenders, investors, collection agencies are now going after people that did short sales and signed promissory note that they quit paying, or had deficiency judgments filed against them. They said they would be garnishing wages and checking accounts of short sellers. I don't know how hard they will go after them, but it didn't sound good. I bet many short sellers will be forced into bankruptcy to stop the collections. Who knows?

Yeah, short sales do suck and people have terrible circumstances.  It's nice that there are folks out there like you (and my husband) to help. -Kasey

Great post Bryant! Short sales do SUCK!