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Attention Agents "Short Sale" Is Not A Marketing Term..

By
Real Estate Agent with Renaissance Realty Group of Keller Williams Atlanta Partners

Attention Agents "Short Sale" Is Not A Marketing Term. Seems lately that every listing I look at says Short Sale or Short Sale Approved or better yet Possible Short Sale and yet when I do a little homework I see the agent has listed it above recorded loan amount and the only way it would go into a "short sale" sale status is if agent fees were paid out. Ok technically this would be a short sale if the lender paid the agent fees instead of the seller would contract the listing agent to sell the house for a fee. Put the bigger point is the listing agent has possible harmed the Seller by no full explaining the short sale process and the impact and options. If the value in the market is less then what is owed then price it based on the value and then you have a true short sale situation but to list it at loan about which could be 10-20 30% over market value only leaves the seller sitting asking why no one is showing the property we did out "possible short sale" in the MLS. Example you go into a dress/suite shop do you A) look at the fabric content 1st B) the price tag C) The Sales person to try and figure out how much off they will give you.

Listing the property over priced and adding "Possible Short Sale "would be like expecting all buyers to pick option C it does not happen.

Sellers facing a possible Short Sale need to work with an experienced agent that know the process from A-Z

Posted by

If you or someone you know is thinking of buying or selling a home have them give me a call .. we will get it done ...right 

Eric Reid 

Associate Broker

Keller Williams Atlatna Partners
Team Leader 
Renaissance Realty Group

Comments (4)

Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Eric,  I had a listing where a previous agent had convinced the seller that because they were selling it for less than they had paid for it - it would be a short sale !  Never late on a payment and most any sale would have more than covered the balance owed.

Mar 31, 2009 07:22 AM
Paul Francis
Francis Group Real Estate - Las Vegas, NV
Las Vegas Real Estate Agent - Summerlin Homes

LOL!! Bill's comment is hilarious... yet sad.

Mar 31, 2009 07:25 AM
Gaye Granice
Robert Defalco Realty - Staten Island, NY
Associate Broker

Too many agents are not properly informed about short sales.

Mar 31, 2009 07:39 AM
James "J.R." Samsing
Litchfield Park, AZ

That's insane. The words "short sale" scare away more buyers than they attract. In fact, the only buyers that the words short sale "attracts" would be low-ball investors looking to make a steal. It's bad enough to not understand how to handle a short sale, but to attempt to market a traditional sale as a short sale is downright negligent... 

Apr 01, 2009 07:00 AM