Do sellers know their options on selling their home if they are in a short sale position?

Asked by Sandra Scott, Jacksonville, FL Fri Jun 1, 2012

Many sellers are doing nothing and are uncomfortable to ask a realtor what can they do to possibly sell their home, after doing a market study in their neighborhood, many will possibly be able to sell.

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6
Marie Cruz, Agent, Jacksonville, FL
Wed Jun 6, 2012
I agree with many of the views posted here. As REALTORS, our job is to educate the general public inform them of options and then direct them to seek legal council, so the sellers trully understand and have a complete picture of the legal/tax and deficiency possibilities, associated with short sales.
0 votes
Ryan Ford, Agent, Saint Augustine, FL
Fri Jun 1, 2012
Ms. Scott,

I agree with you that we as Realtors need to do a better job at informing the general public on the possible options they may have. I have found a good way to help inform the public is to team up with a local attorney and hold public seminars. A few of the Realtors at my office and the attorney in the adjacent office held a seminar a few months back. We had a great turn out. It not only benefited those who came to the meeting but also helped us gain other listing prospects. Maybe an idea to consider.

Ryan Ford
Watson Realty Corp
904-495-4121
http://www.floridafirstcoastrealty.com
ryanford@watsonrealtycorp.com
0 votes
Maggie Hawk, Agent, New Smyrna Beach, FL
Fri Jun 1, 2012
Sandra,

I do believe that many (most?) potential short-sale Sellers really don't know or understand their options.

A lot of folks are too embarrassed to talk to anyone about their situation. Others are so deeply in denial, they won't even admit to themselves that they need help.

You could do some research to find homeowners who bought (or refinanced) during the "boom", and do a targeted mailing to them. My observation is that people who look like possible candidates for a short sale sometimes prefer dealing with a stranger, rather than a friend or relative who's a Realtor.

As Jeff suggests, if you have expertise in short sales, a blog might also be a good way to reach Sellers who might benefit from doing a short sale.

However, I have a concern about real estate agents giving short sale advice, since it's essential that most people considering such a move talk to an attorney as well. They need to explore all their options, and fully understand the legal implications of their actions, such as the possibility of their lender pursuing a deficiency judgment against them. Just my humble opinion.
0 votes
Jeff Metcalf, Agent, Saint Augustine, FL
Fri Jun 1, 2012
Hi Sandra,

That would make a great blog post! Have you checked out the blog section on Trulia? It's a great way to inform the general public that we are here to help and how. Plus, the Trulia blogs show up very high on the list in search engines like Google so it would increase your presence AND Watson's up there in Jacksonville. Have a good weekend~

Jeff Metcalf, REALTOR(R)
Watson Realty Corp.
(904)495-0115
http://www.Realty2Reality.com
0 votes
Thanks....
Flag Fri Jun 1, 2012
Sandra Scott, Agent, Jacksonville, FL
Fri Jun 1, 2012
True, but what I was trying to say was that sellers, the ones that do not have Realtors are not aware that we as realtors really can help them.
0 votes
Jeff Metcalf, Agent, Saint Augustine, FL
Fri Jun 1, 2012
Ms. Scott,

In my opinion, part of our jobs as REALTORS(R) is to be mind readers. I don't wait for my customers/friends/family to ask questions. I try to think of everything that could be weighing on their mind (and believe me there is a lot when they are at this point) and I lay it all out. If you have a REALTOR(R) that is in tune with you and your family and they truly care about helping you through a seemingly difficult process, your questions (especially those concerning your options) should all be answered with thorough detail.

Jeff Metcalf, REALTOR(R)
Watson Realty Corp.
(904)495-0115
http://www.Realty2Reality.com
0 votes
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