Special offer

"Come Again???"

By
Real Estate Agent with Associate Broker at Berkshire Hathaway Home Services Georgia Properties 256152

I have a listing that is gradually getting on my last nerve. I've written about it two other times on different subjects. He used to be a builder, and it amazes me that he was as successful as he claims to be since he has no clue how to sell real estate.

Here is the latest. He calls the other day and says that he and his wife have determined that "it is to start marketing his home as a short sale". Interesting concept there. So I asked him if that meant he wanted to lower the price to less that his mortgage balance, and he said "Oh no, we can't do that, we just want to market it as a short sale".

I had already explained to him two weeks ago that a short sale is not a process, it's a well defined thing, and that marketing his home as something it is not is misrepresentation, and that would not happen. I said that in the nicest possible way, and did not call him any names along the way. I further explained that even if we could legally call it a short sale, that is about as helpful in the marketing plan as telling everyone he has termites that don't exist, since many people won't even consider the inconvenience of short sales.

Amazing how many people are walking around that are oblivious to the fact they need the services of a Realtor!

Rob Ernst
Certified Structure Inspector - Reno, NV
Reno, NV-775-410-4286 Inspector & Energy Auditor

IF he wants to market it why not use the fact he was a builder? His home should be in good condition and well maintained. Get a listing inspection and market it with that. 

Jun 28, 2012 01:46 AM
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Wow, even after you explained the "short sale" process to him. Intentionally misleading the public is a serious offense in real estate.

Jun 28, 2012 02:21 AM
Bill Reddington
Re/max By The Sea - Destin, FL
Destin Florida Real Estate

Sounds like they are just trying to work the system. Can't advertise something it is not.

Jun 28, 2012 02:26 AM
Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Ron, you've got a winner there.  I think he might be related to one of my sellers.  He offers advice at least 4-5 times a week, and we're only 3 weeks into the listing.  

Jun 28, 2012 03:15 AM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Ron, 

If this is the third blog post you've written about them, might be time to strike them out of our listing batter's box!

Absurd.  Most of my buyers' haven't wanted to deal with short sales UNKNOWN time frames, so it's a huge detriment to marketing a home, not an asset!

Next batter!

All the best, Michelle

Jun 28, 2012 03:22 AM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

I do not equate being a good home builder with being a good salesman. Two different animals. However, he should know from being a home builder what's involved with the process. I know many people who don't know or understand what a short sale is, so that's not surprising that he doesn't either. It sounds like he's guilty of being a poor listener. I can easily see how that would be frustrating. I've had a few of those myself.

Jun 28, 2012 04:29 AM
Lee Ann Obenauer
Metro Roberts Realty - Buffalo, NY

I always say you can't fix stupid.  why would you purposely tell someone your home was a short sale if it wasn't.  Does he know how long it would take to get around that he was underwater with his home and that he "doesn't pay his bills. its a small world people will talk and it isn't even true. 

Jun 28, 2012 04:50 AM
Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

That guy sounds like a real class act for sure.  Amazing that someone would ask you to do this.

Jun 28, 2012 05:20 AM
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Ron,   Hmmm... I'm thinking there is something else at work here.  He either doesn't comprehend or is trying to get you to bend the rules.

Jun 28, 2012 05:41 AM
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

What is his reasoning for wanting to be marketed as a short sale?  Are there a lot of short sale homes that are selling in his area so he thinks that is where the buyers are looking?

Jun 28, 2012 05:57 AM
John Novak
Keller Williams Realty The Marketplace - Las Vegas, NV
Henderson, Las Vegas and Summerlin Real Estate

Can't imagine why an equity seller would want to put themselves in a short sale position. Hope this has a good resolution for you!

Jun 28, 2012 06:07 AM
Richard Arnold
Keller Williams Realty East Valley - Tempe, AZ
Realtor - Tempe, Chandler, Mesa, Gilbert, Phoenix

Just be plain and frank.  Tell him to go to his bank and ask them to authorize a short sale.  When he gets and earfull of all the requirements, it should silence his wild idea.

If he still thinks a short sale is a good idea, tell him about FSBOs and bid him adieu.

Jun 28, 2012 07:17 AM
William Johnson
Retired - La Jolla, CA
Retired

Hi Ron, Some adults have an impediment to learning called " I already know everything". Sadly some just don't know made worse if they simply refuse to learn. 

Jun 28, 2012 07:46 AM
Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

Ron after reading this post I'm going to half to go back and read the first two. This is a whole new concept to me, calling it a short sale when it isn't. 

Jun 28, 2012 09:49 AM
Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA
There are times when the stress and aggravation aren't worth the potential commission...
Jun 28, 2012 12:03 PM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Ron, I can tell that he thinks the shortsale approach is a brilliant idea!  Crazy.

Jun 28, 2012 01:31 PM
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

I used to get those types of requests...  It is rather odd.  People read stuff in the paper and don't understand how it works.

Jun 28, 2012 02:25 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Ron -- and is he a true candidate for a short sale?   I had a seller tell me he thought it would be a great idea until I started asking him some questions.....just sayin'.

Jun 28, 2012 02:26 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Ron - Sounds like the seller really needs help to understand how to best get the home sold.

Jun 28, 2012 03:39 PM
Phil Leng
Retired - Kirkland, WA
Phil Leng - Retired

Hi Ron,

This might fall into the GDP category.

If a transaction has too much GDP (Grief per Dollar)

it is not worth doing.

PHil

Jun 28, 2012 05:59 PM