A conversationIi had with a distressed Oklahoma City homeowner yesterday was not unusual. There home has been listed for one year without success. The first six months were as a normal sale, and the second six months as a short sale. A real estate short sale  by definition  is a difficult negotiation, and it is not the same from lender to lender. The huge problem is that five months into the short sale period, the Realtor told the owner that they had never done a short sale before. Our Code of Ethics defined by  NAR  dectates that we should not attempt to do any kind of real estate we are not qualified to do. In my opinion, this Realtor violated the Code of Ethics. It should not be a surprise that nationally only 15% to 20% of short sales are successful. I blame Realtors who take it on and wing it.

It is one thing to list a house that may not sell when a client is above water on the mortgage, and current with the lender. But with a owner in default a foreclosure can be a devastating credit problem. It can also cost some their job. If you have a security clearance, if you work for a lender, handle money in your job, you can lose it. We have rescued people from foreclosure who would have lost their livelihood. This is often families we are talking about. I will find out soon if thisRrealtor is going to release the contractual listing she has. if she does not, this folks are one step away from eviction. Realtors should not gamble with people’s lives. Either learn how to do it, or step aside. This is not a game.