I’m Thankful for Short Sales

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Yes, that’s right. I said it and I mean it. I’m thankful for short sales, and I’m not talking turkey. Of course, I’m not thankful for short sales in the same way that I am thankful to my wonderful family and the health and happiness of the ones I love, but I do have a strong sense of gratitude for how this market and short sales have changed my approach to real estate

While I know that short sales have been around for decades, they have never been more common then they are now. Of course, our nation has never seen a recession this deep since the Great Depression, which would explain why they are so common.

But, why would I be thankful for short sales? Clearly, it is not because they are an efficient real estate transaction nor is it because they are concrete and formulaic.

For me, the short sale has pushed me to the limits and taught me to be the best that I can be. Never before have I been forced to think about real estate in the way that I do now. Never before have I had to strategize so much in order to reap success. Never before have I been required to study settlement statements and title reports with so much detail. Never before did my paperwork need to be so thoroughly prepared, reviewed, and complete.

Not to mention another great benefit: now I can take more listings then ever before. With so many people having trouble making ends meet, there is no shortage of borrowers who may need to participate in a short sale. This, of course, means that my sign is everywhere in town. And, that provides me with lots of exposure. It is this added exposure that will fuel my real estate career for many years to come.

And then, of course, there’s the little thing about helping someone else out of a jam in an honest and ethical manner. That should pretty much provide me with life long referrals if I update my database and contact my sphere of influence regularly.

Last, but not least, I am always up for a good challenge. The short sale transaction has certainly challenged me to be the best that I can be.

Last week, I read newspaper articles and heard radio shows with advice about what to do in order to correctly prepare a turkey. The descriptions and reports made the process of cooking a turkey seem so complicated. That being said, the Thanksgiving meal preparation has nothing on the short sale transaction.

Hope you had a wonderful Thanksgiving weekend.

Photo: wishuponacake

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.