Real Estate Agents Who Care
This has been a real heart breaking year for me as a real estate agent. Never once did I think I would be faced with trying to sell a house for a friend that was in the process of losing it (foreclosure).
I want to remind everyone out there, that your customers should not be treated any differently than you would your best friend when they are getting foreclosed on.
You may grumble about short sales, or gasp when you find one of your listing prospects wasn't completely upfront with you about the status of the abode they want you to sell. Even though there are many out there in this predicament, your customers have been dealt not only a blow to their pride. They are losing the place they chose to lay down roots. It hurts!
Please, for the love of humanity, handle them with some empathy and sensitivity. Don't treat your customers like they just increased your workload by 50%.
Do what you can to find them the perfect buyer, just as you would a normal sale. It may take two months longer than a normal closing, if it closes at all. They are still going to have to find a place to live and they are going to want your help and support. Your customers know people who are going to want to buy or sell in the future. I'm sure they will want to send them an agent who was their friend, and not their source of stress.
There are many people going through this, folks. Let's see how many of them we can help.
We all need to be cognizant that many of these homeowners intended on making the property a long term commitment. It's difficult seeing anyone loose their home.
At listing appointments, I always ask the seller why they are selling. This is extremely critical when you tell them that the $187,000 home can only be sold for $150,000 less commissions. That is a substantial loss! Since my primary market is retirement communities, it's unlikely that these sellers have the capability of making that kind of income to offset the loss. Sad, sad sad. We all need to be respectful and have compassion for property owner.
Bonnie: Every single short sale I have been a part of has sellers whose situations were very, very sad. It is so hard on them... when they see their life's dream turn into a nightmare right in front of their eyes. And, those sellers who have children... face an even greater challenge with the feelings they have of letting their children down. We need to take care of them as much as humanly possible.
I also have friend that are being foreclosed on , it really does stink .
Bonnie, Thanks for writing what so many in the general public don't know: MOST REALTORS REALLY CARE! In this agonizing market, we're seeing so much misery. For sellers who won't be able to pay off the note attached to their property, for buyers who have little choice but to wait months to maybe close on a short sale. Somedays I think I may need therapy...
There are many agents who care and I agree we should try to help homeowners by giving them resources that can help save the home .
I agree with what you said ,, there are many agent who really care about their Clients. They go above and beyond.
Take good care
Bonnie, I know very well where you're coming from. I've been through this a number of times and it's tough on all of us.
I want to thank everyone for sharing their experiences, painful as they may be. We may have a happy ending to this story yet.
I am sending my friends over to our loan officer as they may be able to restructure their loan. I won't get anything out of it, but who wants to profit from someone on those circumstances?
I did hear a good story today from one of my fellow agents who went through a similar experience. Instead of taking a listing from a pre-foreclosure, she sent them to several banks she had as perfered vendors. (they went to several). One bank came through for them and saved their house.
Several years later this customer has sent this agent numerous referrals in which three of them have turned into completed deals.
It pays to be ethical, no matter what politicians tell you . . . :o)
Hi Bonnie, There are lots of folks out there who are willing to do things that many wouldn't.
I worked with a lovely young couple and helped them buy their first home (I am a loan officer). Unfortunately, they are separated now, their home has been on the market for a year. Both are military, he has been stationed overseas, she is in a military school and scheduled for deployment. I have taken over short sale negotiations and power of attorney for both. It's a scary position to be in, but they had no other options. I am hoping that in working with their bank and their realtor, we can get this monkey off their back (and mine!)
Thanks for your compassion and best of everything to your friends and all the others in their position!