Special offer

What would happen if we boycotted Short Sales?

Real Estate Agent with Keller Williams Realty Partners

If the headline caught your attention, I'll bet you have been involved in a short sale and I'll go out on a limb and bet there was some serious frustration at some point.  Well I had another one of those, "OMG- they are driving me crazy" moments last night.  The details aren't really that interesting but out of the frustration came a crazy thought. 

What if every homeowner and every agent in every city in every state just stopped? 

What if no one called the loss mitigation (AKA "Professional Stallers") department for an update?  What if no one submitted a short sale offer/package?  What if every short sale listing that was on the market/MLS was temporarily taken off?  Just for brief period of time of course - 2 or 3 weeks?  Would it have any impact?  How low would inventory levels dip?  Surely this would get the attention of the servicers, wouldn't it? 

Now, some may make the argument that time is of the essence for the homeowner.  While I agree that for most short sale sellers, every day they have to wait is a form of slow mental torture but....  We're trying to push a string anyway so what would be so wrong with trying another strategy?

If only this idea or any other would get results.  I am just so tired of seeing these servicers shoot themselves in the foot over and over again.  I cannot count how many instances I am personally aware of where there was a "good" short sale offer presented and it wasn't approved and the property later sold for much much less!!

As Dennis Miller said, I rant therefore I am.  Thanks for reading.  I'd love to hear what you think.

BTW- does anyone else find it absolutely idiotic that when you are on hold with the Loss Mitigation Department, you hear on hold chatter about "find out how much home you qualify for."  Have these people no compassion?  If I'm a homeowner about to lose my house, is it really good customer service to remind me how bad the situation is.

Mark Watterson
Salt Lake City, UT
Utah Real Estate

I don't believe we (agents) could do that.  It would violate the code of ethnic.  Your headline did grab my attention.

The buyers and sellers could.  That might send a strong enough message to create some needed change.

Oct 20, 2009 02:06 AM