We can all give explanation to foreclosure but how many of us fully understand how to successfully help a client in this situation. No matter when you began your career in the industry, how many of us ever considered being a foreclosure expert as part of our business plan? I never imagined it could evolve to this magnitude. I feel that having worked with a client in this situation is like the ‘rite of passage' to being a seasoned Realtor®. This area of representation has become quite a skill with the passing of every lender.
I personally have experienced my 'rite of passage' enough to know that short sales are extremely time consuming and a risk. In this market there is a lot of truth to "pick your battles." The sale of the home or a short sale may not always be in the clients best interest. The client may qualify for a workout program and thus be able to keep their home.
If we are able to provide our clients with the best service that will assist them through a very emotional and difficult situation, are we not truly successful? I encourage everyone with clients facing foreclosure to refer them to the experts (unless you are the expert.) A referral fee is common, don't be afraid to ask. You will want to have an experienced title person working with you, especially if it's new construction.
Comments(2)