Short Sales- A Niche Like No Other!

Why would you ever want to do a short sale? Agents ask us this question often. Then the next question is, “How do you still have a smile on your face after working in Short Sales all day long?”

The answer is quite simple. Your heart is warmed when you see the sigh of relief on a stressed out homeowner’s face who has been biting their nails every day as the court date for their foreclosure is coming up fast.

Your heart is warmed when the seller who had absolutely no desire to sell his home contracts Parkenson’s disease. As he watched the life he loves get stripped from him with each month as his muscles lose control. He was a boat captain who sailed the ocean blue. He set sail many a day to live the life of his dreams. As we were standing before him listening to his adventures we could feel his frustration and a sigh of regret as he recalled his captain’s license was taken away from him. It was no longer safe for him to pilot any boat.

There were times where he forgot where he put his cell phone or where he put his keys. There were many lessons that we learned from Arthur. He loved his music. We stayed for hours listening to Il Divo. It was the first time I had ever heard of these talented voices. Then the conversation had to lead down a path none of us wanted to go. We went over his finances and there was no way he could qualify for a loan modification. He only had social security now. The numbers just did not work.

Having a foreclosure on his record at his age was a humiliation he did not want to embrace. The best option for him was a short sale. We fought against a PMI company who wanted an elderly man on social security with Parkenson’s disease to sign a promissory note and be held liable for the deficiency. The negotiator at his lender went to bat for him. She went all the way to the top of management. Her boss in her office looked at her like she had three heads. Why would she be going out of her way to make this deal work? He wondered why she even cared, this was just a job. She cared because she could relate. She had a sister or aunt that had some medical condition similar to Parkenson’s and she had empathy. We ended up getting him off with a fully satisfied, no deficiency and no promissory note short sale.

That day was a day of mixed emotions. Sad with tears for the loss of a home that he loved so dearly yet thrilled with happiness that we saved his home from being foreclosed on and we found a lovely couple to buy the home who took over the caring and loving of Arthur. They helped him move to an apartment up the road. They make sure he has food and gets to the doctor. We ended a chapter in our short sale sagas with a heart felt gratitude that we truly made a difference in Arthur’s life and that he made a difference in ours.

Is there a nobler reason, a better cause than to be able to help those who are having a hard time to lose their home with some dignity and a bit of decency through facilitating a short sale for them rather than to have all their belongings removed to the driveway by a Sheriff after a foreclosure sale?

We can make a difference. If we use our skills as strong negotiators, good communicaters, empathetic listeners and persistent resolve we will make an impact on the lives of others, the betterment of neighborhoods and communities, adding to the economy through sales which in turn keeps people employed on many levels and finally being able to feed your own family through these tough times and leaving the world a better place.

If you would like to write your story about why you do short sales- here is a link to a contest Short Sale Superstars is running.

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Comment by Petra Norris on January 14, 2010 at 3:50am
Katerina, your story is truly inspiring and you bring so much knowledge to this forum - I am in aahh!
Comment by Lamanda Jones on January 12, 2010 at 9:53am
A most inspiring and motivating story. It comes at a time when a spark is really needed in order to keep the fire burning in all of us. Thank You :)
Comment by Katerina Gasset on January 11, 2010 at 11:16am
Thank you! I am humbled and appreciative that you chose my post. Here in our part of the country, most sellers are strategic short sales so the issue of feeling sorry for them does not enter into the picture. But once in a while, we do get the homeowner who is really a hardship and needs our help. It is those human stories that make you realize the good you are doing besides helping the economy.
Comment by Wendy Rulnick on January 11, 2010 at 11:04am
Katerina - Congratulations! You have won 2nd place in the Short Sale Blogging contest! Your story put a very human face on short sales and shows that our help can provide hope to homeowners in the midst of losing their homes. Thank you for sharing your knowledge and talent and especially for being part of the group on !
Comment by Deborah McGraw-McCormick on January 6, 2010 at 8:23pm
and again I say amen! For me personally, that is the most important issue to me, the homeowner. After a few meetings with them, I begin to see some peace on their faces. I begin to see them relax and share their hearts with me. I begin to see them trust me, to help them. when I share with them I am not here to judge you, I am here to help you , after they have said how ashamed they are of being where they are or how emabarrassed they are. Seeing that peace and confidence in their faces, makes this all worth while. Im just getting into this, however I have learned to negotiate for them, with THEM fully in mind, my homeowners. The market place is also a place of ministry.........Thanks for this awesome article from your heart!


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