Hello there – working away in the office and happened to come across this thread, so I thought I would respond briefly.
The Battiata Real Estate Group actually has a 96% success rate year to date (2011) for our short sales. YTD we have closed 112 short sales as the listing agent.
Most of these are in SD County – some are in other counties. Obviously this does not include non short sales or buyer transactions. Also, some short sales close quickly (3-4 months) and some take a long time ( 8-12 months or even longer banks are backed up and unresponsive or when buyers back out).
With that said, apparently there is some confusion re canceled and expired listings, so allow me to clarify:
Expired listings and canceled listings do not mean the property went to foreclosure. Listings expire and are canceled for a variety of reasons i.e. the listing term expired and the property was re listed, the seller decided not to sell or postponed selling for whatever reason, the seller decided to try a loan modification, seller decided to declare bankruptcy etc. etc. etc.
I also see posts here from buyers who are upset bc they wanted to buy one of our short sales and did not get it. Let me clarify this: our sellers see every offer and pick the one they want to submit to the bank. 99% of the time, they pick the highest offer, but sometimes they may pick a different, lower offer because of the financing terms , because it is cash, because they want to sell to a particular buyer who looked at their home or because the buyer has extra money to contribute to settle a 2nd lien.
Bottom line, when there are 10 offers on a property, one buyer is going to get the property and nine are going to be disappointed. There is nothing I can do about that.
I know short sales are frustrating – they are frustrating for
everyone involved: potential buyers, their agents, the seller as well as for me and my staff.
But at the end of the day, our job, as the listing agent representing the seller, is to get the deal through and protect our client from foreclosure.
Finally, we close 100’s of deals every year. The overwhelming majority of our clients are happy. The overwhelming majority of the professional agents we work with are happy.
I see negative comments posted about me and my staff online, and while some of them are actual clients who are upset because their home went to foreclosure, or because they did not get one of our properties etc, many of them are of a specious nature – in other words, they are not clients of ours which leads me to believe they have some interest in posting negative comments about me and my staff (in other words, they are competitors), which is unfortunate.
With that said, happy holidays & here’s to a safe and happy 2012.
