What to look for in a short sale agent?
All agents are not created equal.Â Yes, there are a lot of factors to consider when hiring an agent to short sale your property and the following short list is meant to give you something to think about.Â It is by no means a complete list.Â You should consider:
1.Â Â Â Â Â Â Experience:
a.Â Â Â Â Â Â How many Short Sales has the agent listed and closed under their name in the last 12 months.
b.Â Â Â Â Â Can you verify them in the MLS (under their name, and not someone else)
c.Â Â Â Â Â Â Can you talk to the sellerâ€™s to get feedback or a testimonial?
d.Â Â Â Â Â Were they the listing agent? Or the buyerâ€™s agent? Or both?
e.Â Â Â Â Â How long did it take to close?
2.Â Â Â Â Â Â Knowledge:
a.Â Â Â Â Â Â Can they answer your questions?
b.Â Â Â Â Â What credentials to they have?Â Are they brokers or agents? Did they go to law school? Do they understand the foreclosure process?Â Are they familiar with the tax laws?
c.Â Â Â Â Â Â Are they short sale experts?
3.Â Â Â Â Â Â Integrity:
a.Â Â Â Â Â Â Will they put YOUR best interest ahead of their own interest?
b.Â Â Â Â Â Are they willing to do â€˜questionable thingsâ€ to get your business?Â If they do it for you, they will do it to you!Â Deal with people that have pristine reputations and the highest values only.Â It is better on the long-run
4.Â Â Â Â Â Â Support team:
A short sale is a very cumbersome transaction and it takes A LOT of follow up and organization.Â They have countless forms being submitted and re-submitted, appraisals, letters, negotiators, and processorsâ€¦ all of them on different schedules and time-frames and with different objectives.Â It requires a full time commitment with plenty of tenacity and charm to get things done.
Then you have property showings, and escrow conditions and contingenciesâ€¦ dealing with lenders, etc.Â Â Â It takes a full time team with great operational efficiencies to get the job done right!Â Â Make sure your agent has this support (and verify it, get to interview as many of them as possible).
5.Â Â Â Â Â Â Marketing Expertise:
a.Â Â Â Â Â Â We live an on-line life style. Is your agentâ€™s on-line presence one of the best out there?Â Take a look at their listings: How many do they have?Â How many pictures do they show?Â Are they professionally lit and shown pictures?Â Is there a video of the property?Â Â How do they show on the real estate portals?
b.Â Â Â Â Â Does the agent respond to inquiries right away?Â Do they pick up the phone or return your call within an hour?Â These are the types of actions that will get your property sold and allow you to have a successful short sale.
Always remember real estate agents are sales people, and we will all sound very good.Â It is up to you to verify the information we give you.Â Read our customer reviews, send us emails, make phone calls. Verify, verify, and verify.
A short sale is a VERY important real estate transaction.Â Make sure you hire the best person you can hire in your area.Â Do yourself a favor and do not give it to someone just because you know them or because they are a friend.Â Hire the best, and do your homework before you hire one of us.Â This will maximize your chances for success.