After my first blog on short sales, I have to admit that short sales is still not my forte but that does not mean that I cannot or am not capable of processing one and not willing to learn.
I look at short sales like this: It is like meeting someone for love and I don't quite connect or feel physically attracted to, but once I get to know them and see their qualities, then love grows and blossoms. The qualities of short sales are different than a normal real estate sale but it can help you stay alive in this market. I am beginning to fall for short sales. Not that cute when it first introduced itself but I am beginning to take care of it and see the benefits involved.
The journey so far has been intriguing because I get to actually live a short sale cycle in my real estate lifetime. Also, I get to use it as an experience, educate the public when confronted with a question about short sales and add it to my resume for future business endeavors.
What is interesting about the short sale process is that you either take classes (a short cut) or you learn by real estate school of hard knocks. Welcome, Hard Knocks University School of Real Estate Short Sales!
There are still some things that I am learning and to be quite honest, it is putting my patience to the test but no matter what or how many people complain about the market, it is what it is, accept it or not, take it or leave it, join in the list pioneers of real estate or look for another career.
Not that I don't have patience, I have survived raising two kids as a single parent and every parent knows that you definitely have to have two things with parenthood (and in life) love and patience.
Just yesterday I received my first offer. It is not nearly close to the asking price but this is what I love about my career the most; the challenges that I face with negotiations, and not for nothing, but I am very aggressive on that part of my job.
Anyways, while I call the buyer's agent to acknowledge the fax with the offer, they then asked me who my attorney was and I asked, "What attorney"? They started to talk to me like I did not know what I was doing. They also sounded panicky on the phone, OMG! "See, this is the thing about some realtors, they think that they know what they are doing with short sales"
After those striking words to me, all of a sudden fear took over me. I started pacing back and forth in my living room, and started to doubt myself and what I was doing. Am I wrong? Should I hire an attorney?
Meyling Calero, Vice President of Colonial Guaranty & Title, Inc, who is helping me process my short sale deals, helped to calm and relax me after a few emails back and forth. I call Meyling my short sale hero, she is very intelligent and knowledgeable with everything to do with short sales from A to Z.
I called the buyer's agent and told them what was needed to be told in regards to the negotiations and for some reason that time around, I felt confident in myself and felt that the tables had turned around. What was said was something very simple yet the words were very powerful and nice. I took control of the conversation and the buyer's agent said, ‘oh, okay'. Period, END of conversation.
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Great informative post. As parent of twin boys, I agree love and patience are keys to success. btw if you are interested I put together Free List of Broker Price Opinion(BPO) Companies