This market is overwhelmed with agents who haven't any experience in short sale properties. It can be a daunting experience for the sellers and the buyers.

My most recent short sale involved sellers who placed their home on the market with 2 different agents in 2 years prior to listing the home with me.

The first agent grossly overpriced the home, listing it as a regular listing. In the meantime, the sellers had such high hopes of selling for a price that never would be.

Hence, the listing expired, and in walks agent number 2 who also overprices the home giving the sellers high hopes of selling the home at a profit.

When the listing expired again, the seller called me. The first conversation with the sellers didn't go as well as they would have liked. Market statistics don't lie. If a home's market value is less than what the seller wants, it will not sell, short sale or not.

Long story longer.. the sellers owed the bank $100,000 more than market value.. YIKES!  I listed the home at a lower price, reduced the price 3 times ( at the mercy of the sellers bank of course), then finally sold the home for full market value.. (not what the seller owed)

 Sellers who are in financial trouble should be extremely honest with their agent. As professional agents, our responsibility is to protect your honor and keep conversations confidential.

Most sellers believe that their home will sell for a higher price than last year.. yes, even with all of the media stories on how our market is declining.

In this market, if an agent quickly agrees to list your home for what you want, without documenting and verifying market data, be cautious.  Some agents just like to place their sign in the front of your yard for publicity only.

There is much education involved in the short sale process. I will be happy to provide a free, no obligation consultation.

You can reach me at 508-878-0917

Thank you for viewing my blog

Lori Lincoln, Taunton  Massachusetts area Realtor

Keller Williams Realty

email: lorilincoln@kw.com

http://www.LoriLincolnTeam.com

Lori Lincoln, Keller Williams Realty lists and sells property in Taunton, Rehoboth, Swansea, Somerset, Fall River,Bristol County Massachusetts  and surrounding communities http://lorilincolnteam.com