Life’s Little Reminders

By Tom Branch, on September 2nd, 2010

Double Rainbow Over Plano Texas

I had planned on releasing another blog in my Short Sales 101 series, but I snapped this photo this evening and it reminded me of something. 

So far it’s been one of those weeks-nothing has gone right. 

On Monday, we drove 37 miles to look at a listing that will be coming on the market only to arrive on location and discover the tenants had the doors bolted from the inside and had gone out through the garage.  Since all I had was a front door key I could not access the property. I’ll run out there again tomorrow and see if I can finish up the on-site work and get it listed.

Today, I took the SMART car in to Dallas to have the wrap installed. When I arrived, the installation manager remarked that it was the second SMART car in for a RE/MAX installation and mine was not on the schedule.  When I walked in the shop, I found my wrap being installed on someone else’s car. The poor guy working the installation was quit irritated as he removed the wrap from the car.  They were happy I got there a little early before they finished the job! Now I’ll have to wait another week before they’ll have the skins ready to be installed again.

This evening, we ran out to Irving to do a listing at 5:30 PM.  While we were there the sky opened up and we had quite a storm.  We need the rain, but the timing was bad, leaving us damp in both body and mind.

We were exhausted, both mentally and physically, as we drove from Irving to Plano.  We decided to stop and have dinner along the way at II Brothers, a neat local pub and restaurant.  As we pulled in the parking lot, the sun poked through the clouds and a double rainbow formed to the east.

The sight of it lifted my spirits and reminded me to take each day as a gift because we never know if there will be another.  I learned that lesson the hard way as I watched my spouse, best friend, and business partner survive cancer a few years ago. 

However, the daily grind can dull the senses until something comes along to remind you of the lesson.  This evening’s double rainbow was my reminder.

I’ll get back to Short Sales 101 tomorrow…

Comments are closed   Business, Plano TX

Short Sales – Distressed Homeowners Deserve Help

By Tom Branch, on September 1st, 2010

Short Sales - Distressed Homeowners Need HelpDoug and Lorena Foster’s blog titled, “When The Wolf is Running The Hen House” struck a nerve with me.

“They are over and done with…” Despite their thoughts, Short Sales are going to be around at least through the end of 2012 when The Mortgage Forgiveness Debt Relief Act expires.  If you need some background on the subject read my blog titled, “Short Sales 101 – Introduction.”

“Is this our new job? We don’t think so!”  Short Sale listing agents are doing two and three times the work per closing but the end result is so satisfying.  When I first meet with distressed homeowners and they realize there is a light at the end of the tunnel, it’s like the weight of the world is lifted off their shoulders.  If this is my role for the next few years, I can live with it.

“Ultimately 9 out of 10 fail.”  Trained and experienced Short Sale agents close 9 out of 10.  The bigger problem is so many agents don’t have a clue how to list and close Short Sales and should not be attempting to provide services they are clearly not qualified to provide.  Not on do they do a great disservice to their clients but they harm the profession and violate the Code of Ethics (for REALTORS®).  

We’ve closed Short Sales in as little as 64 days from listing to funding.  Do they all go that smooth? No, they do not.  There are so many variables that can impact the timeline. 

We’ve had buyers tie up a home in a contract while they looked for another property. We had a buyer enter into a contract and fail to disclose they had a home to sell.  They were betting on months to get the short sale approved.  I’ll bet both the agent and the buyers were choking when we had the sale approved in 22 days!  Both terminated their contracts after we gave them notice the sale had been approved and left us to start the process again. 

I’ve sold some properties four times to find a buyer who could close.  I’m to the point that I interview every selling agent who brings me a contract. Do they understand the process?  Have they prepared their clients for it as well?

We encourage homeowners across the United States to get educated on the options available should they become financially distressed. Short Sales are a great tool, providing relief to all parties.

Just remember to choose a REALTOR® with a proven Short Sale track record to negotiate on your behalf. Making the right choice can mean the world of difference to your financial future.

Comments are closed   Real Estate, Short Sales
 
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