We got a call from an agent the other day...she has been licensed almost a decade and has a geographic farm that is very loyal to her and she to them. She provides the kind of service "above and beyond" that creates a loyal following and a good real estate practice.
Her voice had an embarrassed tone to it....she had "tried to do a short sale" She had done what she believed was the best she could do...and we are sure it was just that...the best she could do without any experience or training. She asked other people in her office...none have had training...and only a few with any experience...and they had "advised" her....But she defended....after all it was "Name that Lender" so of course, they were tougher than any other lender and how could she be expected to be successful.
That is exactly the point...without training and/or guidance from successfully experienced instuctors and agents..no one would expect an agent to be successful in closing a short sale.
As other bloggers have said...and comments have been made....short sales are not for the faint of heart, short of patience, lack of education, shy on experience....Know what you don't know.
Could you sleep knowing that you may not have been the best agent for this situation ? Sellers...if you find yourself with a hardship that does not make it possible to pay your mortgage....look carefully for an agent with successful short sale experience...Ask for proof...call their references...learn what kind of experience qualifies them to list...and more importantly close, your short sale.
Being a good agent...a high volume agent...may not have anything to do with being a successful short sale agent. Agents choose areas of concentration and often what they like to do they do well. Sellers...choose carefully...the future of your credit lies in part, in the hands of the listing agent. Agents...Short sales are not for everyone..if you learn when you take a listing.,,,,which is when you should learn...that the mortgage balance will exceed the proceeds of the sale...and you have not had the training or experience with short sales. There is a maze out there in lender land...regardless of who the lender or lenders are...the neavigation can be a challenge. Earn your commission by referring it an experienced short sale agent...and sleep well knowing you have done the best you can do for a distressed homeowner.
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