I have just found out from another agent that they received a call from a homeowner looking to sell their property. The agent gets more info from the homeowner and the agent finds out that they are upside down owing more than what it is worth in this market. The agent then says to the homeowner let me refer you to another office near your area. The homeowner was in our area to give a good CMA. My concern is, These people need real solid advise along with assistance. Are we going to see more and more agents that pass these people along because its alot of work for not alot of money. Well in the long run if these homeowners do not get the help now with a short sale they will head right into forclosure and now your are looking at one less potential client. They have now created bad credit for themselves and won't be in the buying or selling world for sometime. We need to step up and give our help and our knowledge wherever need. We also need to relize this is our community our neighboring towns.
RE/MAX Realty 100 - Menomonee Falls, WI
Metro Milwaukee Real Estate
I love it when another agent does that! Just cause they don't know how to structure things with the bank, they figure there isn't a good commission in it for them. Not only can you get that, but the feeling you get when you help a 'distressed' homeowner sell their house before the sherriff sale is GREAT!!! Yes it is more work, but these people need to sell too! And why not be the one that gets the satisfaction of helping them out?
Mar 05, 2008 07:05 AM
Keller Williams Realty - Lakeside Market Center - Macomb, MI
Real Estate Blog & Homes for Sale search site, Macomb County MI
Melinda, if I get a call from a potential seller and find out it is a short sale situation I refer them to someone else that can help them. Why? Because I don't have the expertise. I won't pretend that I do either simply to handle the listing. They DO need knowledge and someone who is knowledgeable.
Not one of the agents that I have referred these potential sellers to have complained when I do, in fact that thank me.
Mar 05, 2008 07:18 AM
Atlanta Real Estate - Canton, GA
Canton Georgia Real Estate
I know alot of agnts now who will no mess with any listings like this because of the potential headache involved.
Mar 05, 2008 07:24 AM
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS
Melinda - I would probably refer them, too, to an associate of mine who is an expert and likes short sales, because, like Kris, I do not have the expertise and like Dwayne, I don't want the headache. Great topic, Melinda, thanks!
BTW Not to get off the subject, but I remember that you asked about AR associates in your comment on another blog. This is a link to a post about Active Rain Associates written by Liz Carter, very helpful.
Mar 06, 2008 08:11 AM
EXP Realty of Canada Inc., Brokerage - Pickering, ON
Durham Region Real Estate Blog
I just stopped by to welcome you to Active Rain. I hope that you find it a great benefit to your business and that you see the value that I have also found here. I am from Charlottesville Virginia and using Active Rain has really increased my business!
My main blog on Active Rain is here: Charlottesville Real Estate Blog, not the link at the bottom of this post.
I hope you will look into the many groups as there are some great group both local and broad based,....
enjoy!
Mar 06, 2008 10:46 AM
Anonymous
Melinda - Great topic and great comments. As Realtors we need to stay ahead of the game. Get the education we need to meet the challenges as they come up or develope a solid network of trusted Realtors that we know have the knowledge and compassion to help or at least educate the people in need. Keep in mind that every foreclosure that goes to Sheriffs Sale drives down the price of the existing properties that are not upside down or distressed, that you are trying to market. This situation is hurting everyone so it behoves us all to do everything we can to help resolve it in any way we can. Education is still the best answer along with application.
Oct 24, 2008 06:37 AM
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