If at any time, your practice involved a significant amount of short sales and you had no moments when your heart ached, became joyful...you cried...please see your cardiologist...
these transactions provide all of that roller coaster of emotions. For people who tout "leave the emotion out of it" this is a business transaction"...again..911 Cardio may be able to rescue you...you can only hope !
One of the very good things about practicing real estate in southeastern Wisconsin is that while the "highs" never hit what agents see on either coast in terms of prices spikeing...we typically do not experience the lows...not as many or for as long as was experienced when the market takes a tumble. Short Sales at the point in time of this transaction were very new to the area...agents, buyers and sellers really did not understand them...worse yet some managers were telling agents to "stay away from short sales" because no lender would EVER accept less than was owed on a mortgage...uh huh.(We sometimes wonder what those managers are saying now...and why they are still managers.)
We were out of state on one of our "mandatory R & R" getaways but always attached to our cell phones and there was a panic frought call from a former buyer of ours. Not long before the call we had talked about the remodeling they wanted to do...beautiful walk in shower in the master suite..all new carpeting...just the first step before they went on to tackle the kitchen. "Lucy" said that both she and her spouse had lost their jobs and what could they do to keep their home which was beginning to sink...and mortgage payments were soon to become a thing of the past if they did not find employment soon. Lucy was determined...but determinaton could not win over a struggling economy. She took road trips for days across many state lines in search of employment. It took a while for her to find a position and to come to grips with selling a house they loved and also having it be the then "unheard of" short sale.
We listed the house and plenty of literature written that explained a short sale to both Buyers and agents available at the house for showings...and held an open house ....our voices hoarse from repeating the steps in the process as people swarmed the Waukesha county beauty. Short sales to us, meant ...and still mean...being compassionate and at the same time very aware of the pride of the Sellers...they didn't get to the situation they were/are in through any fault of their own...job loss...relocation...falling prices...were not within their "management and control."
We knew from the phone calls and emails that we would get offers...even as scary as short sales were to the market...we hoped our printed materials and mega discussions would help to quiet the fears and be replaced by the educaton of the process we provided...it worked !
Our Sellers would be leaving for their new jobs on the other side of the country... our open house had the aroma of the Turkey dinner were preparing during this event. We got the biggest turkey we could find...knowing that this was an entree that lead to a variety of leftover meal possibilities. We made heaps of sides...mashed potatoes, stuffing, vegetables...and of course pie to serve during the bittersweet celebration of presenting multiple offers.
There were no dry eyes at the dinner table..and conversation minimal...the lumps in everyone's throats were hard to overcome as we went thru the half dozen offers and our summary analysis of each offer. The offers were signed...one accepted ...and the Sellers left with mega meal containers for their new home state and jobs. It was a sort of Thanksgiving...though it was not November...they were grateful...and sad at the same time. We were sad....and glad we had the education that we knew would close this transaction.....and it did.
Years passed...and life got better....and they called us to refer to an agent who would work with them in buying a house...a second chance at the American dream...and so it was.
This has been a reflective post and one that we think best illustrates...it is not "all about the money" or you are missing the best part of practicing real estate. We are grateful to be part of industry that allows us this experience. With an attitude of gratitude for all things real estate in southeastern Wisconsin, Sally K. & David L. Hanson, Broker Associates with Keller Williams Realty.