How to find the right short sale real estate agent

Here in the Coral Springs, FL area there are many {vacant|abandoned} {homes|houses}. Many folks have faced foreclosure at an ever increasing speed. Some of the reasons for this are loss of income, increase in interest rates which make payments unaffordable, or just as a result of the economic times we are facing that have stretched us all financially. No mater why someone is struggling, if you find you need to do a short sale to get out of a tough spot, you'd better have the RIGHT agent in your corner.

Short sales happen when a home is sold for less then the loan amount the homeowner owes and must be approved by the bank. Sometimes that means the property sells for less than a regular sale would bring, but not all the time. Banks face a loss of money when homeowners can pay or sell the home in most cases. Short selling the home is usually a win-win for the bank and the homeowner as they can usually get more money for the home than after a foreclosure.

Since the decline in the housing market a lot of buyers are not purchasing homes like they were in the recent past. That usually means more time is required to get a home sold. This will almost certainly result in lost time, and of course, money to the bank, and the homeowner. Homeowners should want their home to sell as fast as possible, which may reduce any money owed to the bank as a result of a short sale. The longer it takes the more they'll owe in some cases.

This is why having a Realtor who is experienced in selling short sales is SO important! They know what to expect during the transaction. They can keep buyers interested in the home for the time it takes to get the short sale approved, and deal with the lender properly. Now you need to know how to get this type of agent on the case. Forget just calling the agents on billboards that say their #1 and assume they are. Take these few steps in mind and they will lead you in the right direction.

Finding the right agent for the job requires a little homework. First, you'll want to ask your family and friends if they've ever used a short sale realtor, or if they know of anyone they can refer you to. Getting a referral from someone close to you is a great way to find the right person for the job. These are usually the best avenues for finding trustworthy agents.

Also try contacting as many short sale realtors as you can find and interview them. Ask them why they feel they're right for the job. You don't want to be too picky as you need someone soon and there are no perfect people out there. The agent should be professional, have a solid track record, and know what he or she is doing. These are definitely the MINIMUM requirements you should be considering.

You can also try local business associations or talk to people in organizations that you are part of and see if there is anyone they can refer you to. Regardless of how you find the agent just make sure they have enough experience in CLOSING short sales (not just listing them), return calls and emails, and are personable since these are important for handling most short sale transactions. If you take these steps you should have no worries finding the right agent. No get out there and find that Realtor!