Put DOWN The Keys And Step AWAY From The Mailbox!

By
Real Estate Agent with Century 21 Cahill Associates

"Put DOWN the keys and step AWAY from the mailbox!", is what I felt like saying to my friend last month when he called me on a Friday night in a sudden panic.  He was selling his home short sale-style and after waiting many months for an answer from the bank, the buyer that he had under contract up and left, leaving him with what he thought were very few choices.  He told me that he was literally going to mail the keys to the bank.  I couldn't believe it! 
Mailbox

First of all, this is a friend of mine, not even a client.  I've known him for longer than I've been in real estate.  While I've given him some casual advice in the past about certain real estate matters, he really seemed to be needing me here. 

My first question was obviously, "What does your agent think about this and what does she advise you to do?". 

He replied back with, "Oh, she's on a cruise and I can't get in touch with her".  Great.

Since this buyer had been lined up for so long, he didn't even realize that he had other options after they left.  I told him about the plan of action I use when I need a new buyer fast and that's dropping the price early and often.  He seemed surprised that it was even an option!  I told him that this was not your ordinary sale and the price did not matter as much as getting another buyer before the auction date. 

After explaining this as well as some other ideas and thoughts regarding marketing and communicating with the bank (since I've done a lot of short sales lately), he seemed to calm down a little.  The next day, he planned on calling his agent's broker and seeing what could be done.  He didn't need to make a trip to the mailbox with his keys after all!

After the phone call was over, I felt very relieved.  It's funny sometimes where as a real estate agent, we're sometimes acting more like a therapist.  He really needed help with his housing situation quickly and I was able to tell him what needed to be done.  Even though I'm not earning a commission on this transaction, I was glad to help out where I could!

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Thanks for reading!

David Cahill
Century 21 Cahill Associates
cell 781-910-6506
www.DavidCahillHomes.com

 

 

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Comments (6)

Jeffrey Smith
Author of 'Realtors Guide To Short Sale Success - Eustis, FL
Short Sale Education

locationlocationlocation

Lowpricelowpricelowprice

Jan 20, 2010 10:29 AM
Baker Home Inspection and Commercial Properties Inspections
Baker Residential and Commercial Properties Inspections - Springfield, VT
Home and Commercial Properties Inspections Vermont

Howdy and Mornen David

Your a mighty good friend, to help him out. It sure was not at all professional on the part of your friend's agent, not maken sure there would be someone availeble to help. If a problem would pop up.

Baker Home and Commercial Properties Inspections Blog Signature

Jan 20, 2010 07:08 PM
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
Trusted For Experience - Respected For Results

David - it pays to have some one really on your side not just taking another listing.

Jan 21, 2010 01:51 AM
Andrew Trevino
ADT Real Estate - Wilkes Barre, PA
Wilkes-Barre Homes For Sale

David,

Great story and, sadly, one we hear very often these days. I hope it all turns out for the best with him.

Jan 21, 2010 05:33 AM
Eldon Hendrix
Hendrix and sons Home Inspections - Holiday, FL

Good friends are priceless, David.  It's great to be able to share some information that can help someone out in their time of need.  Have a great week.

Eldon

Jan 23, 2010 12:31 AM
Melissa Merriman
Keller Williams Realty - Greensburg, PA
Realtor Irwin PA

Isn't it funny how friends want your advise and expertise after they have listed their house with another agent? 

May 07, 2010 05:19 AM

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