San Jose Short Sale Agent: Silicon Valley Foreclosure Prevention Specialists

As a San Jose Shot Sale Agent, I have evangelized about the benefits and importance of short sales in comparison to foreclosures.  However, the volume of short sales relative to the rest of the distressed properties has catapulted into number one position according to Campbell Surveys.   This will come as no surprise to buyers who are in the market right now in Silicon Valley as First Time Homebuyers are snapping them up like hot cakes.

Unfortunately, until we resolve California’s double digit unemployment rate, we will continue to have a steady flow of  short sales for possibly years to come.

I know what I am about to say will be controversial and some Realtors will not be happy with me pointing  this out, but it is something I feel passionate about and feel is an issues which should be raised and addressed.

I noticed just recently that some Realtors I know were advertising themselves as “Experts” in Short Sales.  Nothing wrong with those claims on their face; they appear mature and experienced and seem to have certain certifications which would lead a person to believe they were very good at this specialized practice. Again, nothing wrong with the claims on their face…..until you know the back stories.  This one particular agent has never bought or sold a single property all of last year. Yet, they advertise themselves as a Short Sale Expert who can stop your home from going into foreclosure…… Another had closed one transaction all of last year, yet they also profess to label themselves a short sale expert.  What is wrong with these pictures?

My purpose of this post is not to disparage these particular Realtors.  That is not my right.  But it does raise a question about their professional integrity when they make questionable claims during these difficult time in hopes of gaining clients and how they simultaneously tarnish the image and reputation of their fellow colleagues.

Everyone knows the last couple of years have not been easy for many Realtors.  Loans were difficult to obtain and people simply stopped selling or buying homes for a good full year or more.  Many of us faced difficulties making a living. Many Realtors have left the business and others are hanging on in the hopes of making it through another year.  Again, nothing wrong with Realtors working hard to survive another year.

But let’s look at this through the glasses of the homeowner who is facing foreclosure.  Of course a homeowner wants to find qualified Realtors who can help them fight one of the most devastating situations they will encounter during their lives.   When dealing with people facing foreclosure, Realtors must handle these sellers with kid gloves because there is so much emotional pain association with the process. It is not simply another transaction or a paycheck for these homeowners.  You cannot simply take the house off market and put it back on when market dynamics change.  If the Realtor messes up, the homeowner is foreclosed and their credit history is ruined.  It is a matter of deep family pride and the very real possibility of people becoming homeless if the supposed “expert” Realtor doesn’t know what they are doing. Remember, a Realtor has a fiduciary duty of “utmost care, integrity, honesty and loyalty in dealings with the Seller” (Disclosure Regarding Real Estate Agency Relationship). Are these two Realtors living up to their agency responsibilities when they embellish their supposed “expertise” with one having sold only one property and the other selling none for an entire year?

I do not claim to be the best in this niche market, but over the years, a combination of specialized, continual education and actual, hands on experience selling and negotiating with banks to stop foreclosures has given me the “technical know how” to be able to stop foreclosures through short sales in a majority of cases I take on each year.  Let me point out from my own experience, that the education alone was not sufficient to give me that “know how”; the education had to be combined with the practical experience to make the experience complete.  Theoretical study simply was not enough.   A salesperson who reads books about selling cannot claim to be an expert salesperson unless they have actually sold many products.

Let me make it clear that I am not trying to make myself look good by stepping on others to rise over them when they are encountering a difficult year.  However, this is my chosen profession, and I do not want the reputation of the entire profession denigrated because someone is desperately trying to reel in an unsuspecting client.  That charade cannot last will be exposed quickly, only to the detriment of the unsuspecting homeowner who wanted to believe.

Because of the stress homeowners face when facing foreclosure, they often find themselves to be more gullible and less guarded than they typically may be otherwise.  People in distress hear what they hope to hear or want to hear.  Due diligence is required when hiring someone to help you with your short sale.

You have the right as a consumer to know exactly who you are hiring to provide you with a service.  1.  Ask for past client references.  If they are truly good at what they do, then they must have some happy clients.  2.  Ask for performance data. If they are “experts” they must have successfully sold something recently.   If they cannot provide these two types of information for you, then a red flag has been raised.

It does not matter whom you choose to help you stop your foreclosure, but it would make sense to go with someone who has both the educational and the practical experience to back up their claim of their expert status.   We are not now sitting in a bar telling embellished  fish stories where the exaggeration has little or no consequence; a little exaggeration about what someone can do may mean the difference between saving and losing a family home.   Yes, a little exaggeration can hurt people.

As the adage goes: A little knowledge is a dangerous thing.   And learning about short sales without actually having the benefit of practical experience can be a dangerous thing.