Hi All,

This is a rant.... this is only a rant... please do not adjust your viewer but take this in the spirit intended...

Picture this... We are out for a day of property viewing and shockingly most of what we are looking at is in some form of distress.  So what this means to me is that these properties, and in the case of Short Sales, these owner's have a level of urgency attached to the outcome of these transactions somewhere in the magnitude 20 range on the Richter Scale.  But do they?  Are they behaving like they do?  Nope, not one bit from what I have seen. 

Am I missing something here?  Was there a memo that went out?  Did I, the Queen of Continuing Education somehow bypass a class?  Where are some sellers getting the idea that in this, or any market, playing hard to get (and hard to get ahold of) is one of the keys to selling success?  And where are the Agent's getting the idea that teaching their clients the rules of the game is somehow NOT part of their job?

I have made appointments with the agents to show a distressed property which is appointment only, no key box, no sign, (good move there Einstein, you need to get this puppy sold pronto but heaven forbid the neighbors or anyone else for that matter finds out it's for sale.) only to arrive and have the property owner totally in the dark about the appointment and unwilling to let me in.  (Would it have killed the agent to call their client and make sure the showing is OK?). 

Or my personal favorite... the "Oh, yeah my agent told me you were coming, but today's not a good day for me.  Can you come back next Tuesday between 1:47 and 2:36?"  All the while, my client is cooling their heels at curbside and letting their interest in the property drain into the gutter like dirty rainwater. 

No, as a seller they don't have to let every Tom, Dick or Mary traipse through their home whenever they like, but if they are going to insist upon "appointment only" and I have one, then, gosh darn it, let me in or let me know BEFORE I get to your door that we need to reschedule. 

And this is a new phenomenon... I have tried to call Agent's only to find that not only is their phone number disconnected, but their office's number is as well, and the only person listed on the MLS that I can reach is the client, who by the way, is totally unaware of these facts.

I have said it before and I will say it again (and again, and again, and again...) that I believe that the reason 80% of Short Sales don't work is because 80% of agents don't work.  Folks, these seller's are in trouble and in pain so if you aren't capable or qualified to aid them then get them to someone who is.  This is no different than if you come upon someone who is injured and bleeding, if you aren't truly the best person to sew up the wound so that they will heal properly then get them to someone who can. 

Referral fees are wonderful things, to paraphrase "They are twice blessed, blessing the giver and the receiver".

Here's the thing, truth be told, in most cases I can't and don't actually fault the seller's.  The responsibility and the blame for their lack of knowledge both lie squarely at the feet of the people they have chosen to represent them, their Agents. 

By abdicating their position as not just a partner but a guide for their client's transaction, they could be condemning them to an unfavorable outcome and will also be continuing to tarnish my, and every other good Agent's name. 

The public truly sees us all as cut from the same cloth (There is a reason why we are always painted as the villain in the story, and why it is considered perfectly OK by most people to paint us as such.  Unfortunately, it's a reputation well earned, not by me or anyone I work with, but well earned nonetheless.), and if we don't take steps to change this perception than we are all no better than the man who refused to throw the stone but would hold someone else's coat so that they could. 

Folks, teach your client's what it takes to give themselves the best shot at success, not just with a distress sale, but with any other as well.  Making a home difficult or impossible to see or show is but one nail in the coffin of the transaction.  Not understanding the entire process involved from start to finish and what their responsibilities are (both the optionals, and the musts) is nail number two.  Not allowing the Agent to broadcast to the world the availability of the home for purchase via signage, MLS exposure and prominent Internet advertising can be number three.  And so on...

The way I see it, the Reality Check needed is a pretty hefty one, but if the Agent is willing to write it, and the client is willing to believe in its value and cash it, then everyone stands to get paid.

Rant concluded...  I will now return my soap box to its regularly scheduled duty.

Take care all, help lots of people and have a wonderful day!

Tisza

 
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11 Comments on Seller's Its Time To Cash Your Reality Check... And Your Agent Needs To Write It

AUG
10
2008

Tisza, bravo on a great post I enjoyed reading it and could not agree with you more!

7:35pm • #1
12 Featured Posts

Hi Christopher,

Thank you for the kudos and I am glad to see I am not alone :-)

Have a terrific day and a wonderful week!

Tisza

7:49pm • #2
109,908 Points 8 Featured Posts

And you would think EVERY agent would get it but they don't! It makes me crazy some days. My personal favorite is when I'm at the front door with my client(s) for the appointment and the owner just doesn't feel like showing today. I call the LA and tell them their client sucks and we won't be back. I'm with you 100% on this Tisza. Very well written!

8:13pm • #3
181,969 Points Outside Blog
I'll just let you rant and next time I'll give you a good comment.
8:38pm • #4
12 Featured Posts

Hi All,

Jennifer - Thanks.  One of the things I tell my client's is that they need to keep their home "open house" ready as much as possible but that the world won't end if the dishes are in the sink or they have a full hamper occasionally and that folks understand kids toys, so these factors, in and of themselves are not reasons to keep their door closed.

Gene - Thanks for letting me rant, I shall look forward to your next good comment :-)

Take care all, help lots of people and have a wonderful day!

Tisza

9:13pm • #5
383,191 Points 23 Featured Posts Outside Blog

Tisza, this is a great rant.  I love, "the reason 80% of Short Sales don't work is because 80% of agents don't work."  So true about everything in life isn't it?

9:28pm • #6
12 Featured Posts

Hi Charles,

Yes, it is.  I am glad you enjoyed it.

Take care and have a super week!

Tisza

9:30pm • #7
AUG
11
2008
153,277 Points 4 Featured Posts Localism Sponsor Outside Blog Hit Router

Tisza - Among the numerous travesties that I've seen lately, is that I wrote an offer for my clients on a property about 2 months ago.  The sellers were behind on their payments and needed to sell.  Despite this, we made a very fair offer.  Neither the listing agent nor the clients actually knew how much they owed and couldn't figure it out in 5 days.  After multiple extensions, the sellers decided to reject the offer and participate in a neighborhood open house the next weekend.  Sixty days later, the house is still on the market and was just lowered to $5000 less than what we offered.  Meanwhile, my clients love the house they bought instead. 

10:14pm • #8
AUG
12
2008
258,160 Points 5 Featured Posts

Tisza - Without a doubt you are one of my favorite bloggers.  Here in Sacramento, we are finally beginning to see the sellers "get real" on price.  I think it accounts for the steep reduction in price this year vs a year ago - same month.  But, it took forever for the traditional sellers to bite the bullet, and realize they were competing with the short-sales and the bank owned properties.

1:41am • #10
12 Featured Posts

Hi All,

Erik - I think we can sum up what is happening out there by saying "Whoops".  My Uncle Clayt used to say that my mom "Saved money at a loss..." and I am seeing this phenomenon happening more and more nowadays.  Thanks for stopping by.

Myrl - Thank you for the kind words.  I am seeing some of the same thing here but it is still slow going for most people especially when they truly believe that it should be different in their case because their home is "special" :-) 

Take care all, help lots of people and have a wonderful day!

Tisza

2:07am • #11
DEC
17
2008
128,328 Points 1 Featured Post

I'm not sure why, in this market, any sellers feel that they can control what their home will sell for.  List price is determined by the seller, but sales price is determined by the market.  Sometimes they are very far apart.

9:00pm • #12

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Tisza Major-Posner, DRE#01784679

Claremont, CA

More about me…

I.V.P.G. - Inland Valley Professional Group

Address: 555 N. Benson Avenue, Suite N, Upland, CA, 91786

Office Phone: (909) 581-6444

Cell Phone: (909) 837-8922

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