The Short Sale

Here's how it starts from my end...
I received a phone call form the other side of Florida. A property owner wanting to list his house with me. He did not make a mortgage payment for the past 6 months, he has been in contact with a lean holder, the property was listed with another company, and he now wanted me to list the property for him when the current listing agreement expired.
Sounds simple so far, doesn't it?