Why you need an experienced Short Sale Negotiator

Oct.13, 2009 in short sale agents

After seeing an article in USA today
http://www.usatoday.com/money/economy/housing/2009-08-04-short-sales-mortgages_N.htm

I thought it was important that I update this article with something a little more accurate. Yes it’s true that an inexperienced agent may not get short sales done at as high of a %, so it’s very important to use an agent, or should I say negotiating team that has more experience and knows how best to get short sales done, at a higher percentage of the time. Let me go over a few points:

1. We do an Immediate offer is submitted to the bank (investor offer with real cash behind them), so this creates a real offer right from the beginning that gets the timeline and process started, this speeds up short sales by months over other inexperienced agents as we don’t have to wait until some buyer may someday come to the a house after it’s been on the market awhile, we start the process immediately, this gives us much needed marketing time in the foreclosure timeline process. Let’s face it, the reason many short sales don’t happen for an inexperienced agent is they just run out of time, this can be at the end of redemption or even after the sheriff sale, as it’s important to note some lenders won’t negotiate after the sheriff sale, so every slight edge you can have on your side is important to your overall success rate with short sale negotiating and closings.

By submitting this offer it triggers the bank to assign the file to a loss mitigator right away, and order a BPO-broker’s price opinion on the current value of the house. The reason this is important is this process has to take place no matter which agent is working on the file, there is not a short cut around this, so it’s better to get this started right away.

It’s important to note, if the offer is acceptable to the bank the investor can close on the transaction with the cash, which is a very good advantage to have over all of the agents out there, maybe as many as 95% who don’t have access to this, with our team, you have access to this. This is yet another reason you should contact us.

If the offer is countered too high for the investor with the loss mitigator, then a new buyer will be found using the MLS for marketing and the property will be listed at a price we know the bank will take based on their having divulged what the BPO came back at, or simply countering at the price the bank or loss mitigator is looking for to complete the negotiation.

It’s important to note with our team, that we have direct contacts to the banks through their loss mitigators, due to the fact that we have closed close to 300 short sales, they know who we are. Trust me this creates a big time savings, large shortcut for you, saving you time waiting on the phone and trying to gain control of these transactions. These loss mitigators look to get paid through getting transactions done on their end, so they know when they work with us, they do. we have many videos on this blog that you can watch to understand how to best work with us. If you are a homeowner reading this, than you can be assured we have chosen the best agents to work with us who have been trained with our systems to reach the success rate that we have. Agents are welcome to contact us for an opportunity to join our team, homeowners are welcome to call us to get immediate help with one of our agents that work with us.

Agents, please watch our video on how to best work with us and get paid on your short sales. We do the paperwork with the bank and the negotiating, so it makes your job easier plus it’s much more likely that the short sale will happen. We like to think of it as get paid your commission from the bank with half the time and half the paperwork, it’s a complete win-win-win solution for everyone.

Here are some notes from this first video:
-No upfront fees-full commissions paid the majority of the time
-no need to change brokerages-we work with any local real estate company
-we get a counter from all lien holders
-experienced and specialized
-emphasis on technology and training
-we are experienced dealing with deficiency judgment
-the video tells the many reasons lenders do short sales

Agents can watch this additional video at: