"Sometimes the best way to learn how to do something is to do it," says the lead character, Precious Ramotswe, in HBO's delightful new series: The No. 1 Ladies' Detective Agency. The show is about a woman in Botswana who moves to the bustling city of Gaborone to start up a detective agency. She takes over an old post office.
One scene in the first episode reminded me of the phone calls I get from Sacramento buyer's agents on my short sale listings.
A woman walks in to the detective agency, unaware that it is no longer a post office. She asks Precious for a postage stamp. Precious tells her the post office is gone and the building is now a detective agency. The woman asks for a package. Again, Precious tells her this is not the post office anymore. Then the woman asks if she can have an envelope. Precious grabs an envelope from her desk and hands it to the woman.
Often, buyer's agents call and say, "I see your short sale listing is active contingent in MLS, do you have any offers?" Since active contingent means the seller has accepted an offer, I tell them yes. Then they ask if they can submit an offer. I explain that we have 10, 15 or 20 offers, as noted in MLS. Still, the agents don't seem to understand that MLS status of "active contingent short sale" means the accepted offer has been sent to the bank and, in some cases, the bank will not consider another offer.
Finally I say if they want to submit an offer, go ahead. I go through this scenario at least 5 or 6 times a day with Sacramento buyer's agents. Yesterday, after repeating the above, one agent asked, "But why would you tell me to write an offer when you have 20 offers?"
You want an envelope? Here.
The only thing funnier is when after I have explained in great length what's going on with any given Sacramento short sale, the agent asks: "So how many bedrooms are there?"
In some ways, I am hoping that the due to the rise in short sale listings in Sacramento more agents will learn how to do them. Even if it means just jumping in with both feet and figuring them out as they go along.
Elizabeth Weintraub is an author, columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout Sacramento. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you.
The Short Sale Savior, by Elizabeth Weintraub, available in bookstores everywhere and at Amazon.com.
Sacramento Short Sale Agent, Elizabeth Weintraub, has the answers to your Sacramento short sale questions.
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