In many markets a good portion of the properties that are selling are either REO or short sale. About 30% of my lisitings are short sales now and I have been able to pick up 6 REO listings ( scraps form the REO fraternity) this year. Our MLS inventory is less than 6% under contract - My inventory will be 30 to 40% under contract by the middle of next week .
It just seems crazy to me why an agent working for a buyer would "stay away" these opportunities just because of the pitfalls that come with a short sale . Seems to me we should all jump in and get these distressed homes sold - then these agents can find something new to complain about. We are going to have to MOVE this distressed inventory over the next couple years if we want to " stay away" from them. We have a duty to our clients to let THEM decide whether they want to get involved with a short sale.
I would love to hear some comments on what motivates the " I stay away from short sales " talk.
I believe that EGO and laziness are two of the culprits??? any thoughts out there?
Sending a Blessed 2010 from the Outer Banks!