What is the best way to identify agents with significant short sales and foreclosure experience?

Asked by Homebuyer941, 34239 Tue Apr 20, 2010

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13
Brooke OMall…, Agent, Sarasota, FL
Tue Apr 20, 2010
Check out the website below to find these types of properties.
We at CLUB REALTY are very familiar with the area you are looking.
If you would like to discuss how to successfully purchase these foreclosures, give us a call and we can give you the in's and out's.
Brooke O'Malley
CLUB REALTY
941-726-2677 or 941-366-8390
Web Reference:  http://www.MyClubRealty.com
3 votes
Homebuyer941, Home Buyer, 34239
Tue Apr 20, 2010
Thanks for the input, everybody. Especially to David and Brooke, thank you for putting distressed search access on your websites. I won't play realty trac's game and only patronize firms that provide useful listings.
2 votes
The Serena G…, Agent, Bradenton, FL
Tue Apr 20, 2010
Hello again!

If you'd like to search foreclosure properties for free... without the hassles... visit our website and there's a portal that you can click on... give some quick information about yourself... that goes to our team for follow up... and then you're able to do your own property search with the criteria that you desire. You can then do a search anytime you choose!

Please let us know if you have questions or requests after accessing the foreclosure search portal...

Best regards,

Wendy Herndon
REALTOR / Marketing Specialist
THE SERENA GROUP
Keller Williams Realty
(941) 807-0594
1 vote
Keith Sorem, Agent, Glendale, CA
Tue Apr 20, 2010
Home
Your profile says that you are a home buyer.

You need a Realtor that knows real estate. Most Realtors that are active have been dealing with short sales and foreclosures already. Know this: Most Realtors are not full time. As matter of fact, the latest stats I read about say only about 20% are full time, so that means the odds are that the Realtor you start talking with about representing you in the purchase will be part-time...unless you find out.

So hire a full time Realtor, rule #1.

Second, there are certifications available for Realtors regarding short sales and foreclosures. The National Association of Realtors offer the Short Sale and Foreclosure Resource certification (SFR) which started this year, I just earned mine last month.

The is also one called "certified distressed property expert" or CDPE offered by the Certified Distressed Property Institute.

Most Realtors who are serious about their business have taken some classes that deal with short sales and foreclosures because these transactions make up such a large part of our business at this time.

Good luck.
1 vote
Team Real Es…, Agent, STATEN ISLAND, NY
Tue Apr 20, 2010
My experience shows that the importance is with the listing agent, not the buyer’s agent. The listing agent is important because he/she should qualify the homeowner for a short sale prior to listing the property. Not everyone qualifies for a short sale. The listing agent will negotiate with the bank or banks if there are more than one. Or they will have an attorney negotiate for them. The best way to find out is to interview realtors who claim to be experts. After you have interviewed several you will be able to determine who's experienced and who's not. Also, an experienced agent should be able to provide you with references.
1 vote
Jeff Holloway, Agent, Sebastian, FL
Mon May 17, 2010
2 different questions. I would ask for any designations of specialty they currently hold AND how many sales they have had in the last 6 months that were specifically bank owned or short saled. Take it further...ask for referrences that you can call also. Check with the state board and BBB to see if there are any complaints or filings. Due diligence on your part will pay off. Don't get lazy.
0 votes
David B. Lev…, , Longboat Key, FL
Tue Apr 20, 2010
Thanks for the questions. Personally I would just ask the agent in person, some agents will not deal with short sales for it is a process and all i's dotted and t's need to be crossed, as far as foreclosure experience all it really is is the seller is the bank, almost all agent should be ok with this and making sure again all i's dotted and t's crossed, if you need help I have done soooooo many my hair is falling out.
David Leventhal
The Leventhal Team
0 votes
Dallas Texas, Agent, Dallas, TN
Tue Apr 20, 2010
Any agent can handle the transaction nothing different than working with a purchase direct from a seller.

Sales offers are the same
Point of executed sales agreement thru close is the same

Matter of buyer have the time go through the drama working with short sale or foreclosure. Submitting a sales offer is no different than a normal sales offer.

Lynn911
Web Reference:  http://www.lynn911.com
0 votes
Thomas Waters, Agent, Lakewood Ranch, FL
Tue Apr 20, 2010
Hello,

Agents that specialize in Bank REO's will have been certified though Default School Training. Be sure to ask your agent what traing they have.
0 votes
Don Tepper, Agent, Burke, VA
Tue Apr 20, 2010
Simple.

Ask.

A couple of the answers below correctly advise you to interview the agents you're considering. Absolutely. And the points made about the listing agents being more important, overall, in the scheme of things is also correct.

Still, when you interview them: Ask. Ask "What experience do you have in assisting buyers who have purchased short sales? How many transactions have you been involved in while representing buyers? What can you, as a buyer's agent, do to assist me in purchasing a short sale?" And ask the same questions, substitituing "foreclosure" for "short sale," to find out their foreclosure experience.

And a side note: Not all short sales and foreclosures are good values. Don't limit yourself to those two categories. Consider "conventional" sales as well.

Hope that helps.
0 votes
Kathy Weber, Agent, Murrieta, CA
Tue Apr 20, 2010
Go to the "Find a Pro" tab at the top bar of Trulia.

You can search for an agent in your area, read their profiles, Q&A, blogs, check out their websites, etc., etc.....

Great tool for homebuyer's & seller's!!

Good luck!
Web Reference:  http://www.weberhomes.INFO
0 votes
The Serena G…, Agent, Bradenton, FL
Tue Apr 20, 2010
Greetings!

I agree with Melissa. Google: Bradenton short sale information or Sarasota Short Sale information... do the same with Foreclosures...

The interview process is the most important, though. Make sure that you have your questions set and ready to go and the best agents will not only answer YOUR questions... they will give you answers to questions that you hadn't thought to ask.

Our team has extensive experience with distressed property sales and over 70 years of combined Real Estate experience... We'd love to assist!

Enjoy this beautiful spring day...

Best regards,

Wendy Herndon
REALTOR / Marketing Specialist
THE SERENA GROUP
Keller Williams Realty
(941) 807-0594
0 votes
Melissa Polce, Agent, Cornelius, NC
Tue Apr 20, 2010
google them look on active rain...INTERVIEW THEM...and quite honestly the 2 are different, unless you are looking to buy...1 is going to be hired to save your home from foreclosure, the other the bank has foreclosed and should be well versed in what "pops up" in those types of sales...everyone says they are experts so, have them walk you through a full transaction...ones that know what they are doing...will fully be able to answer!

Melissa Polce, Broker
Distressed Property Expert
Keller Williams Realty
0 votes
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