5 Reasons Your Short Sales Will NEVER Close

Some today experts are saying that only 1 out of 10 short sales reach successful conclusion. Yet others say that 1 out of every 4 close escrow. Regardless a 10% to 25% success ratio is pathetic no matter what your business is!


2) Unrealistic Seller Expectations

like any sale, we all feel our home is worth more than it really is and as a result, so we overpriced our home for the current market. But when it doesn’t sell, we want to know why. Short sales are a little different, but that Seller attachment is still there. No one ever wants to give their home away, but Sellers must realize that one reason they can not sell their home is because it is not worth what it once used to be worth. Sellers, just like Buyers, need to have level expectations, in-line with current market values.

Comments

  1. […] They do work out, at least some of them. Nationally, I’ve heard that the success rate of short sales is between 10% and 30%. That’s a big spread, but any way that you cut it, many short sales are doomed from the start. There are many, many reasons why short sales never get approved – with one of the top reasons being inexperienced real estate agents. […]

  2. There is a right way and a wrong way to handle a short sale as a real estate broker. The right way leads to success but requires a significant amount of work which involves among many other things, educating the home sellers, staying in constant contact with the right people at the bank…and never giving up. Only the true professionals will embrace the “do what it takes” attitude to stay focused on helping the home seller and ensure this type of transaction closes. I certainly agree that personal experience is the best teacher!

    Marc Iafrate, MBA
    Capital City Real Estate Group – Keller Williams Realty
    (919) 886-7355