So yesterday as we were sitting at a company meeting another agent brought up a huge problem that he was having with his short sales. The home owners who at first were trying to keep their home out of foreclosure are no longer motivated to get their home sold short.
Why would they be? The bank is not throwing them out on the street. The are getting free rent and they know that if the house sells they will have to start paying monthly rent. So how does agent get those sellers to do the price changes necessary to hit the sweet spot? One client actually told him that he didn't want all the foot traffic that a price reduction would cause.
While it is too late with these and he should probably just walk no run away from them and let some other poor agent deal with these instead of beating his head against the wall. I gave him the suggestion that when getting the listing I do four price changes and get them signed at the same time as I get the listing. Why? Because we need to find the right price and if we don't have to do all four price changes great if we do I have them in hand ready to make the move when needed.