Be Smarter on Friday Than You Were On Monday - How It Relates to Foreclosures and Short Sales

By
Real Estate Agent with Keller Williams Realty Louisville East (502) 664-7827

I just heard the actor Richard Dreyfuss say “Be smarter on Friday than you were on Monday”. What a profound statement. I immediately related this to the complexity of helping sellers avoid foreclosure by procuring a short sale.

A short sale Realtor’s quest for knowledge is never ending. There are hundreds of written rules and hundreds of unwritten rules and practices.

There Is No Definitive Rule Book - Any Attempt To Write One Will Be Obsolete Before It Is Finished

The written rules are decentralized and scattered among countless government and bank publications and directives.

The undocumented practices just ebb and flow, almost imperceptibly, until a trend is identified. Banks, government, and government sponsored entities simply change the way they do things, often in contradiction of their own written policies.

Observe, Deduce, Learn. Every Day. Every Interaction.

Every single communication with the banks, with Realtors, with buyers, sellers, title companies – everyone – is an imperative opportunity to learn, observe, deduce, stay current and improve our knowledge of the shifting trends.

Indeed, we owe our clients to “Be smarter on Friday than you were on Monday”.

Posted by

 

 

Dave Halpern, Realtor

The Dave Halpern Real Estate Group

Keller Williams Realty Louisville East

Website David.DavidHalpernRealtor.com

(502) 664-7827

 

 

View Dave Halpern's profile on LinkedIndave_halpern twitterhalperndave_facebookDave Halpern QR CodeLouisville Foreclosure Realtors Dave Halpern

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Show All Comments
Rainer
34,945
Jacquie Cliff
Champions Real Estate Services - Lynnwood, WA - Lynnwood, WA
- Real Estate and Short Sale Expert

AMEN!  If you aren't constant learning in the real estate business your are out dated by the end of the month.

Jan 20, 2011 02:56 AM #2
Rainmaker
621,734
Deborah Byron Leffler BzyBee Real Estate Lady!
Keller Williams Realty Boise - Nampa, ID

Oh so true....like you said...the rules keep changing....it is so important to glean every bit of information we can about Short Sales....and then share it with others in our industry!   What we may learn might help some one else who is helping a client with a short sale!    Together we can learn and conquer!!!

Jan 20, 2011 02:58 AM #3
Rainmaker
369,831
Mike Russell
Mike Russell & Associates - Overland Park, KS
Overland Park Kansas Real Estate

I am thinking about taking the easy way out and staying at a Holiday Inn Express all week.  Great info, thanks for the post.

Jan 20, 2011 03:31 AM #4
Rainer
173,614
Mary Jo Quay
EXP Realty - Minneapolis, MN
I Move You Home

When you are self employed you have the security of knowing that there is no such thing as security.

The world is in constant flux, the financial world has turned topsy turvy with banks making up their own guidelines and then changing them constantly.  I'm attending a webinar this afternoon on how Bank of America is going to perform a two week turn around on Short Sales.  I gotta see it to believe it.

Jan 20, 2011 03:35 AM #5
Rainer
173,614
Mary Jo Quay
EXP Realty - Minneapolis, MN
I Move You Home

When you are self employed you have the security of knowing that there is no such thing as security.

The world is in constant flux, the financial world has turned topsy turvy with banks making up their own guidelines and then changing them constantly.  I'm attending a webinar this afternoon on how Bank of America is going to perform a two week turn around on Short Sales.  I gotta see it to believe it.

Jan 20, 2011 03:35 AM #6
Rainer
27,015
Michael Nugent
Prudential Califoirnia Realty - Corona, CA
Sells Corona, Eastvale & Riverside

Knowledge is power and a cruncher on competition.

Jan 20, 2011 03:53 AM #7
Rainmaker
564,419
Chris Olsen
Olsen Ziegler Realty - Cleveland, OH
Broker Owner Cleveland Ohio Real Estate

Hi Dave -- This is such an intrinsic truth in real estate in general and even more so in the complex world of short sales.  It's not enough to have just knowledge, but:

"Knowledge isn't power until it is applied" -- Dale Carnegie

Does the forest make a sound if no one hears it?

Jan 20, 2011 04:06 AM #8
Anonymous
Cynda Rader

Great Post. I try hard NOT to get the feeling that Banks are inhibiting us from doing what we all do best! Put it the hands of the experts, REALTORS, and we can clean up this mess and move on!

Jan 20, 2011 04:08 AM #9
Rainer
16,544
Evelyn Rice
RE/MAX Complete Realty - Sparks, NV
SFR - Northern Nevada

Great quote! I learn something new everyday here on AR and I'm taking a class this afternoon.........It's been a good week! :o)

Jan 20, 2011 04:19 AM #10
Rainer
33,424
Mark Smith
Cherry Creek Properties, LLC - Erie, CO

gotta agree- you have to constantly be updating yourself. I read at least 3 articles a day from Inman, CNN Money, blogs, etc.

Jan 20, 2011 04:24 AM #11
Rainmaker
908,388
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Dave, the rules are always changing.  Even the banks don't always follow their own rules.  I like that to be smarter on Friday than Monday.  We owe it to our clients and ourselves. 

Jan 20, 2011 04:29 AM #12
Rainer
34,256
Mike Kazi
AtoZTasks.com - San Bernardino, CA
AtoZTasks.com

YAh- Dave thats completely true what you have said . End means everything and that makes us realizing that we should be smarter at the end most because the catch is there .Specially in the real state business where everything can be changed any moment.Its more important to be smarter in fact smartest at the last moment .

Jan 20, 2011 06:52 AM #13
Rainer
31,223
Carey Valentine
Medallion Mortgage Company - Bountiful, UT

LOVE IT!

Thanks for posting!

Jan 20, 2011 07:38 AM #14
Ambassador
2,755,526
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Each morning I spend at least two hours reviewing news releases from my state associations, verious real estate news feeds, local and state NAR bulletins, etc.  Then AR for realtor posts and comments. 

It keeps me up do date and able to use the latest real estate info for my buyers. 

 

Jan 20, 2011 10:08 AM #15
Rainer
89,133
Troy Funk
Allison James Estates & Homes, Sarasota 941-957-3737 - Sarasota, FL
Broker / Associate

Good thought Dave - Solomon could have had Anything he wanted and he asked for Wisdom, which gave him Everything he could ever wanted. 

Jan 20, 2011 02:28 PM #16
Rainer
52,672
Joyce Herr
Prudential Lancaster Real Estate - Lancaster, PA
Lancaster County & Beyond

So true - working with short sales is never the same and continuous learning is in order.

Jan 20, 2011 03:31 PM #17
Rainmaker
526,160
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

 

Thanks everyone for your great comments!

Laura – LOL! I didn’t mean to impose a deadline!

Jacquie – You name it, it’s changing.

Debra “ByzBee” – Ahhh, that’s where AR comes in, also ShortSaleSuperStars.com, courtesy  Bryant Tutas and Wendy Rulnik.

Michael #4 – LOL!

Mary Jo – I missed the webinar, hopefully they’ll put it on the advanced site

Michael  #7 – Cruncher, indeed. As they say, if you think education is expensive, try ignorance.

Chris – Great quote from Dale Carnegie

Cynda – No one can figure out if they’re inhibiting the process on purpose or due to inefficiency

Evelyn – It’s always a good day when we learn something

Mark – It’s a great habit and it pays off

Pamela – LOL, sometimes we have to tell loss mit what their own rules are

Mike #13 – They change at any moment but they don’t tell us

Carey – Thanks for reading!

Lenn – Some people think we’re not working when we’re “just sitting and reading”. They figure it out, though, when we have the answers to important questions they didn’t even know exist.

Troy – Very wise comment, pun intended.

 

Jan 20, 2011 04:04 PM #18
Rainer
366,533
John Michailidis
Real Property Management of Sarasota & Manatee - Sarasota, FL
Real Property Management of Sarasota & M

That is an excellent viewpoint Dave. Thank you for sharing it with us. --JM

Jan 20, 2011 04:36 PM #19
Ambassador
2,139,273
Todd Clark
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

That is why I enjoy social media and the internet, everyday there is a webnar that can be listened to while I'm driving between appointments and everyone of them has a least one thing that I can take away from them.

Jan 21, 2011 03:37 PM #20
Rainmaker
101,868
Brandon & Grace Yee
Chase International - South Lake Tahoe, CA
Lake Tahoe Real Estate

Hi Dave, I think my parents try to say something like that to me when I was growing up.  If you stop and think about it, it totally makes a lot of sense.

Cheers from Lake Tahoe,

~Grace Yee

Jan 21, 2011 05:30 PM #21
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Rainmaker
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Dave Halpern

Louisville Short Sale Expert
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