Foreclosure in Queens>Question Details

James Hunter,  in Brooklyn, NY

The 5 things real estate agents hate about about dealing with shortsales properties.

Asked by James Hunter, Brooklyn, NY Sun Mar 22, 2009

I am writing an article about the most annoying things real estate agents face when dealing with short sale listings and or transactions. I looking for a way to solve these problems from a real estate agents point of view and and I'd appreciate the comments from any real estate agent especially those in the New York City area.

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Shari Schramm’s answer
While short sales are a challange I certainly dont hate them. If you are an educated, skilled professional it can be a fairly smooth, quick process. The situation is already too bleak for a seller in distress to deal with a Realtor who is not professional as well as compassionate to the sellers unique issues.

One challange making things extremely difficult to overcome can be Mortgage Insurance on a second.

Good luck with the article,
0 votes Thank Flag Link Wed Apr 8, 2009
Ya gotta take short sale issues on a case by case basis as with anything in real estate. I'm suprised Sold! didn't throw a plus in here that realtors suck and to go flat fee like in all your other posts!

Anyway, short sales have many possible issues one of the main things is the agent needs to be dilligent in communicating with the banks, faxing and re-faxing information over and over again, banks losing paperwork, requiring updated paperwork after they dilly dally for long periods during the period a negotiator is waiting to be assigned, is assigned and then takes their time in the negotiations.

Agents dealing with short sales need to be patient and be prepared to make many phone calls and repeat faxing. Advice, scan all your documents and fax the docs from your pc, it will keep you better organized and makes it easier to re-fax instead of standing in front of the fax machine for hours on end. Guess I'm giving more advise opposed to listing things I have in dealing with short sales but then again your question was way too vague, guess your writing a book or trying to put together a course of some sort, I would disclose that in your question if that is your intention.
0 votes Thank Flag Link Wed Apr 8, 2009
Realtors telling me it is a great time to buy a short sale.
0 votes Thank Flag Link Sun Mar 22, 2009
I hate nothing about a short sale. It's an oppotunity to help a distressed home owner.
0 votes Thank Flag Link Sun Mar 22, 2009
The Hagley G…, Real Estate Pro in Pleasanton, CA
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