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I agree totally, Bryant! Homeowners in this situation need sincere, knowledgeable and caring agents to help them. They usually feel desperate and need to be educated.
Remember, sellers in this situation often get a really bad rap. They feel like they are being blamed for the housing crisis, however, had the economy and housing market not gone into a downward spiral they would be able to sell their house outright. Most of the sellers we see today in this situation are NOT people who bought "beyond their means" as is normally portrayed. They are people who made sound, responsible decisions but LIFE has happened in the interim. Job losses, income reduction, illnesses, relocation, growing families, deaths of family members...all of these events can launch someone into a serious financial crisis. Even without a home that is under water, these things are usually highly stressful and life changing events sometimes leading to devastating financial consequences that stay with them for years.
It is not the homeowner's fault that they can not sell the home today for an amount to pay off their mortgage. They didn't cause their value to go down tens or hundreds of thousands of dollars. They didn't cause 30% of the homes in their neighborhood, or city, to be distress sales. But it happened, and they need someone who can help them get out of it. I believe that these honest sellers who just had life events that put them where they are today are the rule...not the exception.
Short sales are constantly changing. Every experience is different. You have to have the ability to think outside the box and refuse to give up if you are going to work short sales. You also have to have the dedication and determination to continue to learn, grow and change.
If you are going to work short sales, it is your duty to learn how to CORRECTLY work them. Take a course, take five courses. Do whatever it takes to become a knowledgeable short sale specialist. Don't think you can "figure it out." Learn from those who do them! There are many out there working them wrong and the consequences can be devastating to the homeowner. Once you understand how to work short sales, and know how to correctly put together a package your learning is not over. You will find yourself awake at night trying to figure out how to solve your short sale problems. You will be challenged constantly. You will make some mistakes, but you will learn from them and be better. You will find yourself extremely frustrated at times. Sometimes you will just want to give up...but if your heart is truly in it you won't. You will learn that "no" doesn't mean "no"...it just means "not yet, work harder on convincing me." When you refuse to give up...usually the short sale will be successful.
Short sales are not easy, but there is nothing more rewarding than sitting at the closing table with a seller that you have just helped avoid foreclosure. I would rather be at a short sale closing than any other type of buyer or seller. You have just helped to change someone's life for the better and set them on the path to recovery.
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