Over two years ago I decided to become a short sale listing agent. I have spent countless hours talking with banks and learning all I could about short sales. I continue to learn with each listing I take and contract that successfully closes. The world of short sales is anything but consistent. Each listing, sale and bank is different.
I have discovered that one thing that needs to be consistent is my attitude, desire to help sellers and management of each and every file. I have started to use a third party negotiator and that is still a work in progress. I like to have control of my short sales and I don't always feel that I know what is going on.
One thing I find absolutely necessary is to keep the buyer's agent informed of the progess, so they can keep the buyer engaged. Nothing worse than loosing a buyer as you approach approval. I try to give them a weekly update to keep them hanging in.
Lately, I have found some banks are really getting their system in order and processing short sales in a systematic way. Other banks can't even seem to get the paperwork in order to start the process. With all of the stimulus money the government has infused into the banking industry just for the purpose of helping out the housing market this is unacceptable to me. Most of the banks blame it on lack of personnel.
Good news is in SW Florida our under $150K market is almost a seller's market now. Multiple offers are the norm on well conditioned, well priced homes. Let's hope this continues and spreads to the upper price points.
Hang in and Happy selling.
Comments(1)