Are Short Sales Taking Control of your Life?

Nice blog and I agree with you 150%. To many times we get caught up with work,work,and more. we all need to take the time to smell the roses.

Short sales are certainly time consuming. I have always preferred to work alone but will have an assistant by the end of the year. I just can't keep up any more so have to make a change. It's going to be very difficult for me to relinquish control.

I am negotiating 22 short sales at this time.

I am not very good at balancing, I am working 80 per week.

Thank you for your post and as soon as I am done with these 2 short sale packages I will smell the roses. :)

Help lots of people and have a great day!

Patty Da Silva, CDPE©, RESS®, AHWD®, e-PRO®, GREEN, CFS
CERTIFIED DISTRESSED PROPERTY EXPERT© and Real Estate Short Sale Specialist®
BROKER Associate REALTOR® & Licensed Mortgage Broker - Senior Financial Advisor

http://www.twitter.com/pattydasilva

Visit http://www.pattydasilva.com for SouthEast Florida's best properties

Bryant,

I am like you. It will be very difficult for me to have an assisant helping with my short sales.

I don't let me current assistant (Licensed) even get near my files. LOL

Are Short Sales Taking Control of your Life?

Not anymore... :)

Patty- I can't imagine working 80 hours/week. Oh well, I'm not as young as I used to be ;0

SS's are very time consuming, but unfortunately a grim reality in this market. They do not produce the most income for me, compared to my other niches. But I am happy to take them if they come my way and if I can help a client out.

this is going to be my 2010 New Year's resolution! 

Like you I am also a control freak when it comes to our short sales... But I have balanced - NOT RELINQUISHED - my tasks to our assistants. They do the administrative work on the marketing - I do the person to person or phone conversations with our sellers or network Realtors.  They prepare the short sale documents - I walk the sellers or Realtors through the process.  They compile the documents as they come in - I verify.  They send the documents to the lenders and follow-up 2x per week - I prepare the escalation numbers and negotiate with the loss mitigators.

Its not about control.  Its about what we do best!

I handle my shorts from start to finish and I try not to take the problem child Shorts. If you are going to handle all of the work load, it is important to not try to handle to many at one time, or you will get burned out quick.

Short sales are a ton of work, and from this point forward, I will either figure out a way to get paid for the work, or have somebody else do the negotiations.

I do not like short sales, but they are becoming the dominate part of the market.

Short sales are a lot of work, but they are not dominating our life - they area about 50% of our business, so we're not burned out on them.

Sharon

Great post. Most of what I do is sell and negotiate short sales. I have put in a ton of time and it does take away from other activities. But what other options do you have, hand them off to someone else who may or may not care if your short sale closes and if they do get it approved they want big $$.

I am on the other side of this- I work mostly with buyers purchasing short sales. So it is not nearly as time consuming other than previewing.  It is the endless waiting.... which is so frustrating.  I give you alla lot of credit, listing them takes patience, great organizational skills, follow up, and when they fail to close you have expended a tremendous amount of effort for little return- one can only hope you close more of then than you don't.  GOOD LUCK - These are indeed challenging times.

Hi Melissa, Sounds like you have the right idea about balancing.  I hope you had a terrific Sunday! This was a great post and a reminder of the things that are important.

You are eluding to the fact that you need to decide if they fit into your business model for the new year? Too much effort for the return?  I say you bet, sometime soon the banks are gonna get it too.

The main part of my business it short sales and they are not taking control of my life. I think the key is organization and planning.

Hi Melissa - I must say that short-sales haven't taken control of my life, because I've been fairly good at not becoming involved with them.  That being said, I have watched agents who seem to have mastered the whole short-sale process and are legends in the making!  I like Mary's comment about balancing.  So much of life is about that!

You are right Melissa. RE can take up a lot of time. Even more with Short Sales. I refer my most difficult clients to coworkers. Now RE is great again!