Short sales are thrilling transactions. In a short sale, an insolvent homeowner about to be foreclosed sells a property for less than what is owed. The remainder of the debt is forgiven. Success at this requires dedicated professionalism. Dedicated professionals know what to do and what to avoid. Read on to find out the top ten mistakes to avoid.

1. Not knowing the business. To attempt a short sale without knowing what to do is simply reckless. This is totally disrespectful of the client and other short sale professionals.
2. Not understanding the foreclosure process. Each state has its own foreclosure rules. In most states, there are two types of foreclosure, each with its own set of rules. It is critical to dominate this subject.
3. Not knowing the legal boundaries. It is easy to unintentionally break regulations. Regardless of good intentions, the law is unforgiving of ignorance.
4. Working with unmotivated clients. Short sales require full cooperation. Attempting anything with unmotivated clients is a waste of time.
5. Not being selective about transactions. Not all transactions are viable. It is much better to have a few well-selected transactions than many random deals.
6. Not walking out of a transaction when it is not working. In order to negotiate, one requires alternatives. In short sales one alternative must always be to discontinue the transaction.
7. Not having the right team. Good connections are must. There are plenty of competent professionals eager to contribute. It is not hard to find compatible teammates.
8. Not explaining well the process to clients. This has to do with fear of the unknown. Understanding matters makes clients a lot more confident and comfortable.
9. Not being win-win. People that see benefit make things happen. Benefits need to be real and perceived. Clients unsure of benefits cooperate less.
10. Being too greedy. Too much greed is real estate's enemy number one. Wanting just a little too much often results in loss of great opportunities.

Short sales are professional endeavors. As such, it is just as important to know what to do as what to avoid. Avoiding the top ten short sales mistakes will result in a much more prosperous shortsales career.

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