You ask a great question. Of course you can try to persuade your lender to sell it in a Short Sale.
First, read my blog.
Second, your E & O Insurance is usually void if you list the home yourself. Personally I would refer it to an agent in your office and let THEM negotiate with the lender. They have the same advantages that any other listing agent would have: detached from the outcome, professional, and they can be non-emotional.
Yes. The bank will hold them to the strict criteria of actually qualifying for short sale. The realtor would have to behind in payments, owe more on the mortgage than the property is worth, and not have other assets that would enable them (the realtor) to catch up on the mortgage payments. Keep in mind that a homeowner must be able to prove that they are financinally unable to continue making the payments. Usually, the bank will want to see income taxes and other information before they will approve a property for short sale. I hope this helps.