Here is a brief history of the Short Sale Success that I have had since July/2006.
I have found Short Sales to be very rewarding in alot of different areas not only on the income side. I have helped many sellers to sell their home and save it from going to foreclosure over the years....the smile on their face makes it worth the hard work on a daily basis! I have outlined my history below and would hope that it would help other agents to consider doing short sales.
I have trained over 200 agents in my area and they are doing well with Short Sales! I have found that I enjoy helping the other agents and that gives me a feeling of TEAM work...WHICH I LOVE!
CATINA'S SUCCESSFUL HISTORY!!!
-My first short sale was July/2006 (Bank didn't call it a Short Sale at that time)
-Start to finish it lasted a very long 3 1/2 months
-The bank was Countrywide & they told me "NO" eight times before I finally gave up
-They called after 2 1/2 weeks & wanted to know if I could still put the deal together
-I said "SURE"
-I knew then that they needed the contract so I didnt budge on the 6% commission...I had both sides
-After over 150 calls & working this deal in my sleep
-I CLOSED AND ALL THE WAY TO THE BANK I SAID "NEVER AGAIN"!!!
AND THEN:
-Four months later my phone rings & I hear this from a friend..."Hey Catina you got a minute? I have a neighbor that has a family member in Florida that has a friend that did something called a Short Sale..do you know what that is?". I said "yeah I sorta know a little about that"....he said "great can you come over tomorrow?" I hung up the phone after telling him yes and thought I was crazy at that point and just said "GOD help us all"!!
-Listed the home right under payoff because I had no clue what to do at that point. Next day called Wells Fargo and they walked me through there process and it was a PLEASURE to work with them!!
-62 days from start to finish and I'm thinking "OK I CAN DO THIS"!!
TO DATE:
-CLOSED 25 SHORT SALES
-THREE OF WHICH I WAS THE DUAL AGENT (2 at 5% and 1 at 6%
-I've had 4 go to foreclosure before I could get an offer on the table for the bank ( three were with Countrywide)
-Currently working on 8 Short Sales at a time...a mixture of listings and buyers
-I've actually had a total of 9 Short Sale transactions going on at the same time!! (No I dont take nerve pills...heehee)
I WOULD STRONGLY ENCOURAGE ALL AGENTS TO GET TRAINED IN SHORT SALES!!! I HAVE DIRECT CONTACT WITH ALOT OF THE BANKS AND THEY ARE REPORTING TO ME THAT 70-80% OF THEIR LOAN MODS ARE GOING TO BE FALLING THROUGH IN 2010!!! THAT MEANS MORE SHORT SALES FOR AGENTS IN ALL AREAS!!!
DONT BE AFRAID OF THEM THERE REALLY NOT BAD ONCE YOU GET TRAINED AND GET A FEW UNDER YOUR BELT! I HAVE DAILY COMMUNICATIONS WITH SOME SHORT SALE NEGOTIATOR'S AND A FEW HAVE BECOME FRIENDS!! THEY REALLY DONT BITE!! TAKE INTO CONSIDERATION IF YOU HAVE 500 CLIENTS CALLING YOU DAILY SCREAMING THEN YOU MIGHT BE A LITTLE GRUMPY AS WELL!
Last but not least...I wouldn't have wrote this blog unless I was willing to share my short sale binder/folder with you free!! Its nothing fancy just my years of working short sales and my personal notes and forms that banks have sent me to use in successful short sales!! I have NEVER charged any agent for training all that I ask is that if you are involved in a short sale and you see that the banks contact info such as fax, email, numbers have changed that you send me a email so I can update my binder.
One more thing....If you would like to request my binder I would need to email instead of putting hard copy in mail....its very thick and postage would eat me alive!!
GO START LISTING SHORT SALES TODAY!!!
GOOD LUCK!!!
Thanks,
Catina Wright
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