As you may know, I list and sell a fair amount of Short Sales in Florida. One of the many issues I face is Sellers who are all gung ho about doing a Short Sale and then they disappear.
At any given time I could have a dozen listing packages out there that I am waiting on to be completed and returned. The Sellers and I have spent time on the phone discussing their situation and the way forward. All that’s left is for them to complete the paperwork and get it back to me.
Then…nothing. Nada. Zilch. No response and no returned calls or emails.
Why does this happen?
My opinion is that it happens due to fear. Fear of losing their home. Fear of needing to move. Fear of incurring moving expenses and rent payments on top or an already bleak financial situation.
Some of these folks haven’t made a mortgage payment in a year or more. Once the Short Sale is completed the living for free is over.
Fear of uncertainty. Not knowing if the Short Sale will succeed. Knowing that once they make the decision to move forward they are venturing into the unknown.
Fear of taking action. Not taking action can be comfortable.
Fear of being looked down on. Doing a Short Sale means admitting you are in trouble financially. The neighbors will know.
These are just a few of the reasons why taking the next step towards doing a Short Sale can be difficult.
Having been through two Short Sales myself I can relate to each and every one of these.
Making the decision to Short Sale our properties was very difficult. It was humbling. We lived in a small town at the time and I was supposedly a successful Real Estate Broker.
I feared knowing that my peers would see my properties on the market as Short Sales.
I feared my business being affected because of it. Of course business was already in the toilet so it couldn’t have gotten much worse. So my fear was really just my ego getting in the way..
BUT……in spite of my fears I made a decision to move forward with the Short Sales. As soon as I made the decision I felt better. In fact I felt smart! Smart to be taking action and smart to be unloading a “thing” that was just harming me and my family.
It was freeing. I took control of the situation and conquered it.
Today, almost 3 years later, I look back and see that my decision to get my ego out of the way and solve the problem was the best thing I have done in a long time.
Being able to relate to others who are facing Short Sales because I have “been there done that” has caused my business to explode!!
There is life after a Short Sale. And I truly believe you will find life to be much more fulfilling than it was before. So set your fears aside and take the plunge.
Use the Short Sale as a fresh start. Truly explore why you are in this situation and then make changes so it doesn’t happen again. Don’t let your ego stand between you and your new simpler future.
And that’s all I have to say about that. What say you?