What is the best way to get a listing on a short sale??

Asked by Roberta Wasser, Yorktown Heights, NY Tue May 19, 2009

Short sales procedures

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Annette Law…, Agent, Palm Harbor, FL
Fri Apr 26, 2013
Your profiles suggests you are a real estate professional and are not a buyer or seller.
It may prove beneficial to grant TU and Best Answer to those who actaully read your question!
As you are aware, we are in the closing phase of this market segment. As the economy continues to improve this should hasten the sunset of the short sale industry. Untill that time arrives, we are relegated to dealing with Wells Fargo, Chase, Bank of American and Citi.
Roberta, the VERY best way to get a short sale listing is by presenting a 'Someone You Know' scenerio to your top 100.
The second best is a success story to share when anyone asks you, "What do you do?" then segway into "Someone You Know."
Then you can chase the Lis Pendens and tall grass like everyone else.
You know those mortgage brokes who are always asking, "How can I earn your business?" Put THEM to the test. If they are who they attest to be, they will be maintaining contact with their past clients. Look them straight in the eye and say, "You get my referrals when I get some from you."
There just may be a disconnect between the service they promise and what they deliver. This is a good opportunity to find out.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
1 vote
St. Lawrence…, Agent, Stamford, CT
Tue May 19, 2009
This is a GREAT QUESTION...For your Broker!

Your Broker is supposed to provide you with education, guidance and opportunity for growth. If you are not getting that kind of support from your broker, maybe it is time to see what else is out there for you.

I am always looking for agents that want to become great and excel in this business. I provide them the knowledge and tools to succeed. If you are interested, give me a ring: http://www.stlawrenceproperties.net/recruiting.php

Than I can show you how to do what you are looking to accomplish.

1 vote
, ,
Fri Apr 26, 2013
Good morning Roberta,

I've been helping First Time Buyers for 23 years as a mortgage professional and I will tell you what I have always told my clients here in New York: If you are a First Time Buyer, steer clear of foreclosures and short sales.

Foreclosures are someone else's headache. The home probably has not been well-maintained and you're a First Time Buyer adjusting to paying a mortgage. Do you really want to walk in the door to someone else's deferred maintenance that YOU will have to pay for? Also, if you're thinking there are deals to be had in terms of lower prices, mostly those "deals" go to professional investors who can pay cash, negotiate hard with a Lender, and close fast.

For Short Sales, my attitude of late is that First Time Buyers should steer clear. Short Sales tend to be a better deal for the homeowner than for the Buyer. You'll wait MONTHS for the homeowner's Lender to approve the short sale; maybe as long as Six or Seven Months. Meanwhile, you're stuck in a contract to buy that home. I closed a short sale recently with a Buyer who, after seven months said this at the closing table, "I don't even want this house anymore."

And he didn't even get the "deal" on price he thought he was getting! The house appraised for only slightly more than he paid for it at the short sale price. He walked into this deal thinking he was buying a home for $100,000 less than it's value. In the end that wasn't the case.

There are plenty of motivated Sellers with their homes listed on your local MLS. Go find a good Local Mortgage Banker, get prequalified, then find a great, experienced Realtor, and buy the home you want at the price you're willing to pay.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
0 votes
Mike Linkena…, Agent, Jacksonville, FL
Wed Apr 28, 2010
I have a better one. We work with thousands of homeowners around the country monthly looking for short sale agents. We also offer a training course on getting listings. Basic stuff is free. Check out:
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