Michael Edgar

Everyone in the Idaho area is familiar with the Property By Owner magazine that is free to the public.

I have always grabbed this magazine from time to time when I see it and thumbed thru it. I have noticed that with the slow down in the real estate market, the magazine has gotten to be a lot thinner then it used to be. I liked what the magazine had to offer people who didn't want to use an agent to assist with selling or buying a home, although I have no idea why someone wouldn't want professional help, but I recently found something out that really irritated me about this magazine.

PROPERTY BY OWNER magazine is OWNED by a Licensed Real Estate Agent here in IDAHO.

I can't believe that this magazine the shouts from the roof tops from cover to cover to NOT use an agent, IS OWNED by an agent!

Not to mention, the agent allows his Broker to advertise his real estate services and property management services in the magazine, but will not allow anyone else to advertise any type of real estate services. How is that for helping out the public with a free magazine with information only the owner wants to provide. I don't think he really has his clients and the publics interest in mind.

Talk about a conflict of interest. I am sure several people who use this magazine would be very frustrated to learn that very fact.

Everyone has heard the phrase, "you get what you pay for". Well sometimes "free" advice is actually priceless. You have to consider the source. In today's uncertain real estate market, more and more agents are finding themselves dealing with distressed homeowners/sellers. However, most agents out there in the market place haven't personally experienced for themselves what it is like to go through a short sale or foreclosure. The reason for that is that most of the agents who have gone through those two situations, probably aren't agents anymore. Where free advice is priceless is where the person giving the advice has first hand personal experience. Agents need to stop being embarrassed about losing their personal residences or rental properties to foreclosure and share their personal experiences with their prospective sellers. There is no shame in admitting failure. In fact, if you are an agent who fell on hard times at the collapse of the real estate market, lost your home, but are now back on your feet, you are a success. Share that information and experiences with everyone facing the same situation.

It's obvious that we live in the information age. If this is true, then why do agents fail to include important information concerning their short sale listing. Agents today seem to choose to brag about their ability to negotiate a short sale in the agent remarks rather than give important information concerning the short sale. Ex: Agent/Office has years of experience negotiating short sales.

Why not include who the lenders are that are involved in the short sale?

Why not include if there is a 1st or 2nd mortgage?

Why not include where the foreclosure process is?

Why not include if you have a negotiator assigned?

Why not include if you have a good working relationship with that negotiator?

Why not include the proposed foreclosure date?

By including some if not all of the information above, agents would be better prepared to show your listing.

This is a simple and effective way sellers facing foreclosure/short sales can better handle the harassing calls from their lenders. So your cell phone rings and you look down only to see that Bank Of America is calling you again about your delinquent payments. This rush of failure and stress rushes over you yet again for the 10th time today. The calls just don't stop!

Well, I came up with great way to turn those negative reminders you are getting on a daily basis into a positive encouragement.

Simply program the number that you lenders are calling you from in your phone book or address book on your mobile devices.

In this situation, we will use Bank of America number that they use. 800-669-0101

So you would program this number- 800-669-0101 into your phone, however under the name of this contact, you WOULD NOT input Bank of America.

Instead, you would type in anyone of the following:

1) Believe in yourself

2) Stay Postive

3) Things are getting better

So now when you get that harrassing phone call from Bank of America,

You look down to see who is calling you and your phone will simply display:

Believe in yourself, or Stay Positive.

This is a nice positive affirmation for your day.

Don't believe that it works. TRY IT! You would not believe how well it works. This also works with any other collection agencies.

Sellers looking for an agent to represent them in their short sale should strongly look for an agent who has personally been thru a short sale or foreclosure themselves.

Look, you wouldn't buy a car from someone who doesn't own a car. If you diagnosed with cancer, Wouldn't you seek advise from a cancer survivor. I hate to go to the extreme, but doesn't it make sense. You see the problem is that people place the blame on success. They think that if an agent/realtor has lost their home to foreclosure or short sale, they must not be a good agent. That's not necessarily true. Many agents/realtors have elected to walk away from their properties as more of a business decision then a lack of income decision.

If you considering selling your home as a short sale, you should strongly seek out an agent who has personal experience with foreclosures or short sales.