WHY and HOW would anyone stop doing short sales in today's market?

Among today's featured posts on ActiveRAIN was one by an attorney who used it to announce that his firm would no longer do short sale closings...apparently in an attorney closings state. His post garnered, at last count 228 comments - most of them agreeing with his decision. However, I must respectively disagree....with one important BUT at the end.


I can understand an attorney located anywhere withdrawing from the short sale market. But for escrow/title companies in states like mine where they do all closings, foregoing short sales would not be an option....even with them only constituting 15-20% of the market.

For most agents, in markets like mine, that would be a poor business decision.

Short sales require knowledge and experience counts.

The top agent (team) in this market (population = 310,000) is a short sale specialist. He came here three years ago having never lived here previously. He had experienced short sales in NEVADA.

His superior knowledge allowed him to quickly become the top dog for short sales. But now he is simply the top dog.

He has been above average in marketing himself. But his superior expertise has made the difference. I have nothing but respect for his record and his professionalism.

I have adopted some of his procedures. My experience bears them out.

I will be doing as many short sales in 2012 as I can. I will not be doing them happily. But I will be doing them well.


BUT AT THE SAME TIME, I will be looking for political and REALTOR leaders who understand the need to break up the big banks.

They are too big to fail. They are too big to serve their customers efficiently. They are also too big to serve their investors and/or depositors effectively....in a fiduciary manner.

THEY MUST NOT BE ALLOWED TO ACT so irrationally and broadly that they are capable of bringing the whole world into economic ruin in the future.