Shannon Adams, CA Broker

Shannon Adams Realty Network Broker Short sales are definitely not for every seller. Most agents only know the general rules governing the tax consequences of short sales, but there are varying circumstances depending on what type of loan and property is being sold, it can still have heaving tax burdens for sellers. Even though my seller and his wife had a serious illness, heart problems and cancer, and the bank did approve the short sale, this seller was not insolvent and ended up with a $90,000 tax debt. This all inspite of the new ruling about 'forgiveness of debt'. So be sure you are not making the financial decision for your sellers. Make sure they have thoroughly investigated their personal situation, and never generalize.

I absolutely agree 100%. I manage over 100 agents, and I can tell you many agents aren't even willing to spend the $1,000 a year it takes to be a Board member and have a lockbox key. What business can you start up for a $1,000 and on your first sale earn an average of $12,000 commission!!! If they won't even invest in the tools of the trade, are they even investing in training and education to be the best advisors they can be? Many are winging it. YOu should see the contracts I review on a daily basis. When the contract calls for the description, meaning the address, they are writing 1600sq.ft. 3 bedrooms & 2 baths. This is a sad state of affairs. There should be more mandatory training. This is a very legalistic profession, and especially now with so many agents trying to think outside of the box with shortsales and loan mods. And as you say, they will only drop out when they are not making money, and for no other reason. Amen to you Teresa! Shannon Adams Realty Network Broker

We slit our own throats by making the MLS public domain. Now buyers could find their own properties, and go directly to the listing agent. Listing agents have made the wound even deeper, by offering to list homes in the MLS for a small flat fee, and leave the negotiations to the seller. The next thing these creative agents will do is give our profession a death dealing blow, by trying to give away our services. The problem here is not valuing the services we provide as very legalistic, protective, and necessary. I once had a sliding scale commission model...the quicker I sold your property the less you paid, due to less marketing expenses and time involved. But even this devalues the need for a professional real estate advisor. So stop trying to think outside of the box, before there is no box, no offices, no desks, no commissions at all, just FSBO websites backed by agents killing our profession.