Interview Questions for a Prospective Short Sale Agent
If, for reasons of hardship…unemployment, under employment, illness, divorce, etc. or some combination thereof….you are unable to pay your mortgage and are looking to have a real estate agent do a short sale…you , the homeowner(s), need to interview the agent and make sure that you feel confident with their experience...their Successful experience…to save you from the ravages of foreclosure. Here is an interview guide you may find helpful in the screening process.
1) What formal training has the agent had ? CDPE or other…Ask to see the certificate. If the agent has received the training, they won’t be offended and you will be assured that they formal instruction by a recognized authority in the industry.
2) How many short sales has the agent done ? Find out not only how many but when…recently…5 years ago.
3) What is the success rate for closing short sales ? It isn’t just the quantity…it has to be the quality to avoid foreclosure.
4) Ask for references from recent closings. If the agent is successful, providing a handful of references should not be an issue.
5) Has the agent explained the process to you…discussed what options are available and what the long term effects can be for each option.
6) Has the agent given you references for a real estate attorney, accountant and credit repair expert ?
7) Ask the agent to show you closed sales figures from MLS for the past 24 months. Short sales take longer, require more effort and as a result more financial stability by the agent. You don’t want to sign a listing contract with someone who may not be able to sustain their earnings in the business.
8) How does the agent take your very valuable from listing to closing ? Ask for a written marketing plan, find out who does the follow up with the lender after an offer is received. What is the agent’s philosophy on submitting an offer or many offers and why ? And the all important question…WHO does the negotiation of the short sale with the lender ? Does the agent you hired do it…do they have a VA..Virtual Assistant do it for them ? Do they have a 3rd party company do the negotiation ? The answer to this question with the success rate may be key to difference between an agent listing a short sale and closing one…
Don't Be A Real Estate Experiment.....
Be A Successful Short Sale Seller...the Credit/Future You Save IS your own !
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