You should have taken better care of me! I trusted you. You told me you were a professional. After all, you took on my home to sell it as a Short Sale. I thought you knew how to sell Short Sales? How did you let this happen to me?!
Oh boy, the questions all making reference to just "How could you let this happen?!"
These are likely questions made by the South Florida homeowner who has been trying to sell their home as a Short Sale since 2010.
There was no method to the pricing strategy or should I say lack of pricing strategy. It was high then reduced by 8.5% in a week, then reduced by 16.50% in 2 months then reduced a few more times, then increased back up to a prior price, then 3 more price reductions and then increased back up again to a prior price and then you guessed it, reduced it again 3 more times until the distressed Seller finally had their nice home foreclosed upon for a judgment amount of $350,000.
I've written about this so many times and it just pains me to see this homeowner having gone through this and so many others. Why do Agents take on Short Sale listings and just wing it? This is not as simple as what will happen if you don't get the home sold. If you don't get this home sold it will be foreclosed upon; most homeowners worst nightmare - that of mortgage foreclosure.
Are we so desperate for money that we will do anything to even risk the well being of a distressed Seller? Where are your values? It disgusts me.
There should be a license just to sell a home as a Short Sale as maybe then Agents would take it seriously. Or if you don't believe in the seriousness of a Short Sale, then refer it out and receive a 25% Referral fee. Enough already.
Lots of variables in a short sale. Price is a big factor. Has to be priced correctly or it will just sit. With all the price reductions on that house something isn't right.
I remember when short sales first came out and I simply "winged" it since no one really knew how they worked or anything.
I totally agree. Selling Short Sales is a different animal and you need to study it, learn it and specialize in it. I see agents who never do short sales taking short sale listings and they do not even know how to properly negotiate with the bank, or even how to properly submit offers. It is so important to really be educated in the process.
Bill, so true as there are so many variables that you need to be on top of for Short Sale success
LaNita, winging it while you're trying to be the best at learning the ropes certainly differs from winging it without caring of the results
Jaime, there is so much to learn while working Short Sales and I'm with you in finding it so incredible about what some Agents will do with a Short Sale listing when they have no idea. I will always say it's criminal
So many ifs! Sad part is that some short sale sellers are still attached to the home and the price. They need to let go.
Hi William, yes, selling your home as a Short Sale can be very hard for Sellers and letting to. I usually don't have any issues with the selling price for Short Sale sellers as they know once they've agreed to sell their home as a short sale that the price becomes irrelevant. However, they do know that when I'm representing them, I will get the best price for their home and I will advise them not to accept any old price.
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