Put DOWN The Keys And Step AWAY From The Mailbox!

"Put DOWN the keys and step AWAY from the mailbox!", is what I felt like saying to my friend last month when he called me on a Friday night in a sudden panic.  He was selling his home short sale-style and after waiting many months for an answer from the bank, the buyer that he had under contract up and left, leaving him with what he thought were very few choices.  He told me that he was literally going to mail the keys to the bank.  I couldn't believe it! 


First of all, this is a friend of mine, not even a client.  I've known him for longer than I've been in real estate.  While I've given him some casual advice in the past about certain real estate matters, he really seemed to be needing me here. 

My first question was obviously, "What does your agent think about this and what does she advise you to do?". 

He replied back with, "Oh, she's on a cruise and I can't get in touch with her".  Great.

Since this buyer had been lined up for so long, he didn't even realize that he had other options after they left.  I told him about the plan of action I use when I need a new buyer fast and that's dropping the price early and often.  He seemed surprised that it was even an option!  I told him that this was not your ordinary sale and the price did not matter as much as getting another buyer before the auction date. 

After explaining this as well as some other ideas and thoughts regarding marketing and communicating with the bank (since I've done a lot of short sales lately), he seemed to calm down a little.  The next day, he planned on calling his agent's broker and seeing what could be done.  He didn't need to make a trip to the mailbox with his keys after all!

After the phone call was over, I felt very relieved.  It's funny sometimes where as a real estate agent, we're sometimes acting more like a therapist.  He really needed help with his housing situation quickly and I was able to tell him what needed to be done.  Even though I'm not earning a commission on this transaction, I was glad to help out where I could!