What about short sales...

I hate dealing with the pre-negotiators. The ones who keep kicking them back after faxing offers three or four times.  That is the most frustrrating.  Then you fax them three or four more times.  Why can't they just use email.  Then no excuses...I didn't get it. 

When I am on the buy side, they are very rewarding when we can acquire a property at slightly below market value in a fair amount of time.  (That's when I get to negotiate directly with the asset manager...and let them know what their FMV is because I work with other banks!) 

I actually like them as both the listing and selling agent. I can't think of anything negative. The positive is seeing first hand how one person's nightmare is another person's dream home. There is a feeling I get when I go pick up my sign and lockbox. I reflect on how I got the listing, how I was the seller's personal counselor for 1-13 months, how the buyers were excited when they learned that they got the home at a great value. I get invited over for dinner by both buyer and seller when the dealing is done.

I will miss these transactions when they are gone. Not to mention the high commissions.

I don't like the amount of paperwork involved, the uncertainty (not all of the short sales close), and the time involved - at least 3-4 months to close the transaction, again, if it closes.

It can be rewarding to help a seller out of a difficult situation, but the uncertainty of it all and the amount of time it takes it frustrating!

MATT,

I hate that it takes so long for someone who needs relief from their financial burden to actually get that relief.

I love the fact that we can share in the relief of the homeowner once it is achieved.

Become a CDPE Today

BPO's done by an agent two hours out of area come to mind as I consider the challenges of short sales.

I love the feeling when the approval letter comes in and I can make a call with good news instead of an update that we are still waiting for approval.