You want an agent that will stand on your side no matter what.

Are these the people who have been reading your blog? Honesty definitly pays! Plus it helps you sleep at night :)

JUDY, good for you and that's great that they have the option to be able to stay put. 

Judy, if you are upfront and honest with people it will come back to reward you in the future.  Over that last year I have advised more people then ever before to hang on to their loan and not refinance unless they really really need the equity out of their property, or to tell them to get a "Line of Credit" (I don't do Line's of Credit) at their local bank instead.

You have to be honest and upfront.  Heaven knows it is hard enough to look at this mug in the morning without me feeling guilty on top of it.

I just had that happne myself and the owners were ok with it.

judy - real estate, unlike stocks, are not a commodity. homes are tied with quite a bit of emotion. doing what you did, tellling them their home was not worth what they probably thought is one of the hardest (and most important) things to do. shows your honesty and your professionalism.

Now this is good advice, Judy.  If someone can hold on to their home 'til things turn around, they'll be so much better off than letting it go upside down.  Back in the S&L crisis, we had this situation, and it took a while but values did come back.

Judy, You did what every Realtor should do, be honest and convey the truth!  Way to go- I like the upside down house pic!

I have to tell you that when I came upon this post and saw the upside down picture, it really threw me at first.  I thought for a second that you posted the picture wrong.  Silly me, like you could ever make such a mistake!  Great post and great example of a true professional.

You did the right thing Judy!  You will be rewarded.  I guarantee that you have earned a raving fan!

Judy,

Your post is very pertinent in today's market. I have had to give the same news to the last 5 listing appointments I've been on. I've let 3 other listings expire because the homeowners didn't want to accept their situation, nor did they follow any of the tips I suggested to increase the marketability of their homes. As a result, I have no listings at this time, but what I do have is a good-sized group of ready, willing and able Buyers that I have time and energy for now, that I might not have had if I was still trying to market homes that would typically sit on the market for 6-9 months or more. I've had to make my own choices on how I am going to suvive this market, and those who can afford to hold off selling to a later date will be thankful to all of us who advice them honestly to do the same.

Thank you, again, Judy. I wish you well.

Frances Sanderson, Franklin, NH  REALTOR®, Certified EcoBroker^®

Judy I am impressed.  I think this is what the public looks for in a true professional.  I am sure you will be hearing from the folks again -- when they can sell (and I am sure they will think about referring clients to you as well!)  I am optimistic that this will pay off for you in the not too distant future.

Although it was not easy to tell them the truth, it was the RIGHT thing to do. You did them a HUGE favor...and they will not forget you. When they are ready to sell and buy...they'll be callilng you! GBU!

Keep up doing the right thing Judy. Sleeping at night is priority. Jay and I are in Vermont, I taught an all day ethics class and Jay came up with me. We head home tomorrow.

Judy, good for you. I too, have been doing that for the past 2 years. It doesn't help pay the bills now but in the long run it will come back to you. As honest professionals there is no other alternative. Our time will come...