One of the things that I have learned in this business is if you rely on other people to keep their promises to you or meet your expectations, they will invariably disappoint you. But you can't let that get you down. It's not smart to set up a system in which your happiness is dependent on another's performance. That's not a defeatist attitude, btw, it's just the way the world works. It's much better to make note, and then implement better systems -- to be proactive.
For example, I try not to associate with negative-thinking or stupid people. Which are two different types of people -- but a person could be both. The problem with negative thinkers is they adamently refuse to see the other side because it doesn't support their agenda. The problem with stupid people is you can't fix stupid.
I can happily say that picking the right buyers and the right buyer's agents is an essential tool that I use to maintain my status as a successful Sacramento short sale agent. I tell everyone that if a buyer goes into escrow with my short sale sellers, I will move mountains to get that buyer's offer accepted by the bank. And I perform to the best of my ability. I try to make the short sale process easy on the other agents and their buyers.
I have, however, given up expecting buyer's agents to pull comparable sales. I suspect the thing is a lot of agents don't have any training in how to appraise a property. I know you may find that difficult to believe, but agents would have to take a course, get a certification or maybe read a book about appraisal. Instead, they rely on software programs. In college, I completed principles, practice and procedures of real estate appraisal and economics, and they were difficult courses. I don't think I received A's, like I managed in most every other class. But at least I know enough to not try to appraise a property based solely on a per-square-foot cost average.
To make it easier for agents now, I just go that extra step. I don't argue or plead. I simply pull the comparable sales for them and email the comps when an agent expresses an interest in writing an offer on one of my short sales. That way, the agent can show the buyer the comps, explain the market, and we hopefully will receive an offer that the bank will accept. That, my friends, is what a short sale is about: banks taking the offer and the deal closing. See, buyers don't know anything about the market, for the most part. All they see are homes for sale, and many of those homes are incorrectly priced short sales -- which are not reflective of the real estate market because they won't close.
A few days ago, an agent called and asked if she could lowball one of my short sale listings. She said her buyer was conservative, and that's why he wanted to lowball. I love those kind of reasons -- like I care. Like anybody cares. Instead, I pulled the comps of identical models over the past 3 months and sent them to the agent, along with an explanation that this particular property had $XX,XXX of upgrades not reflected in those comps, so it was like getting all those upgrades for free.
The offer came in at an appropriate price; the seller accepted it, and we're now in escrow. I can pretty much guarantee that if I hadn't sent the comps, this short sale would still be on the market.
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Certified HAFA Specialist
My Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available at Amazon.com.
Lyon Real Estate is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
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The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.
Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice. It could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.
