For those of you who on LABOR DAY labor in the field of real estate, this post from Broker Bryant...who knows his short sale stuff...and is generous here with information...
Hi folks. I hope everyone is having a great Labor Day. Today I want to talk about Short Sales. Big surprise right? More specifically I want to talk about the tools available to help you if you choose to handle Short Sales.
Whether you are on the listing side or the selling side you need to understand how Short Sales work. You need to have “insider“ information and support from your peers if you want to weed through the jungle that is Short Sales.
I’ve been debating with Richard Weisser on his recent post. His post and many of the comments are all about blaming the lenders for the difficulties in getting Short Sales approved and closed. I actually agree that the lenders are part of the problem BUT I would much rather put my efforts into trying to find a solution or a “work around” than waiting on the lenders to come up with a better system.
I need to find a “work around” because if I don’t.....my Sellers will be foreclosed on.
One of Richard’s complaints is that “A 5th grader knows how to write a checklist. You would think that a bank that was gifted 25 billion tax dollars could hire one to create simple directions for sellers”
Richard feels is it not our job as agents to put together short sale packages. After all “we are NOT loss mitigation negotiators by trade. Nor should we be. We are form fillers and order takers, and many agents are very good at that.”
Now folks I want to say.....I like Richard. We actually agree on most things and Richard is certainly an ethical and honest Broker. BUT, in my opinion, he is dead wrong in this case.
First....I completely disagree that we are “form fillers and order takers”. Personally I am far more than that. I found that statement very insulting.
And, as I have tried to explain over and over again, most of the big lenders DO have check lists and forms for us to use. They also have instructions for the sellers and their agents. All the agent has to do is ask. But of course.....the agent has to KNOW to ask first.
Anyway, I didn’t write this post to give Richard a hard time. I wrote it to share. To hopefully get you to understand that you do not have to go it alone. If you want to do Short Sales then LEARN the “work around”. Don’t wait on the lenders to change their process…..change yours. GROW as an agent.
Here are some freebies for you:
Are you working a Bank of America or old Country Wide Short Sale? Then click here and you will find everything you need to get the deal done. Including forms, check lists (directly from BofA) and insider information.
How about Wells Fargo?
Need help with tools to make your job easier?
Have specific questions on a file you are working?
Want to laugh about it all?
http://ShortSaleSuperStars.com is for agents helping agents. We LEARN, KNOW and GROW. We are not complaining…..we are conquering. And it’s FREE!!! Please join. We'd love to have you.
Wendy Rulnick and I have spent hours upon hours putting this site together. We did it to be of service. Eventually we will have groups set up for EVERY lender. The members of www.ShortSaleSuperStars.com have CLOSED 100s of Short Sales.
- Did you know just faxing the LOA (letter of authorization) to the wrong number can delay your short sale by weeks?
- Did you know not updating your seller’s financials every 90 days can cause the file to be closed?
We really do want to help. Let Wendy or I know if you have any questions. Together we CAN make a difference. What say you?
Available Short Sale Training:
- The Negotiator Interview $27.00
- www.ShortSaleSuperStars.com FREE
- Short Sale Agent Training Webinars 8 Hours of training and materials for $197.00
- Short Sale Listing/Submission Package $47.00 Click for details
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
Are you a Florida REALTOR(R) looking for a change? Check it out.
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