Michelle McKinney, Real Estate Agent Serving Hampton Roads, VA (Chantel Ray Real Estate)

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Rainmaker
2,434,339
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

I did nothing but short sales for years.  They are mostly behind us (for now) in my market. No demand here.  When the market turns again ... I'll be ready to set sail on short sales again. 

I wish you all the best in your endeavors .... 

Dec 06, 2017 09:23 PM
Rainmaker
2,778,747
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Short sales are not part of my strategy.  Good luck.   

Dec 06, 2017 08:14 PM
Rainmaker
218,508
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

agents , well are sales people. on commssion , my thought is if you DONT want other copying you... say nothing. or as my mom used to say, IF you dont want anyone to know your secret" tell NO ONE. just my thoughts. im glad you have a great plan thou

Dec 06, 2017 08:09 PM
Rainmaker
719,694
Thomas J. Nelson, Realtor,CRS,e-Pro
Big Block Realty 858.232.8722 - La Jolla, CA
Co-Host of Mail-Right's: Real Estate Agent Podcast

I’m not sure what demand you’re referring to as there’s no demand for short sales and San Diego: but should they become part of our market again down the road I’m an expert and short sales and I’ll just resume where I left off in 2012 after doing several hundred over that 2006 to 2012 period.

Who in your area is demanding short sales? Because you’re going to pay close to market value for a property in weigh twice as long to acquire it so I’m not sure why there would be a demand for such a long wait for little to no savings?

Dec 06, 2017 08:34 PM
Rainmaker
632,025
Pete Xavier with X Group Real Estate Advocates
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

I love short sales, though at this time I would have to refer out. (busy making bank in another industry) There is some secret sauce involved, understand loan modifications inside and out and truly help your clients' for their own best interest, you'll have happy clients.

Though short sales are way down, they are still out there and can be lucrative when done right and with the proper delegation. Approach as an advocate, you'll be the hero if a short sale happens to be the solution or not. It is a good niche, but wouldn't recommend it as a only niche.

Dec 06, 2017 08:29 PM
Ambassador
2,225,595
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

There is just no demand for them in my area - we can't keep inventory here in Charlotte. I did a TON of them during the recession and am thankful that most of our distressed properties have been absorbed in recent years here!

Dec 06, 2017 09:56 PM
Rainmaker
3,420,135
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Wishing you all the very best in your endeavor.

Dec 06, 2017 09:21 PM
Ambassador
3,097,421
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

All the best to you with your plan, I hope that it is very successful, but I have nothing to add since I have never been involved in one.

Dec 06, 2017 08:15 PM
Rainmaker
359,069
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I attended courses to get certified, I integrated my short sale knowledge in my marketing, and I also offered my services to agents I knew that did not want or did not know how to handle short sales. 

Dec 07, 2017 05:39 AM
Rainmaker
502,431
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

In my area, virtually all are equity sales these days. It's been that way for years now. Short sales are not for the faint of heart, so if you've got the intestinal fortitude to handle them, go girl!

Dec 07, 2017 04:41 AM
Rainmaker
2,612,450
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Short Sale Sellers have found - and continue to find us through our Active Rain presence...

Dec 07, 2017 04:12 AM
Ambassador
3,362,725
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Part of the satisfaction of the job is to feel like you are doing good work. This is a segment of the market that can make you feel you are helping. I do not do many short sales as we have a healthy market. I commend you for pursuing it.

Dec 06, 2017 09:56 PM
Rainmaker
1,294,208
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

It's a tough market. Most listings have gone away in that area but I see more & more sellers that actually SHOULD do it but are renting out their homes instead. I think it would be better to just get rid of it instead of 10 years as a landlord. Gives you a chance to start your life over even with the credit ding.

Dec 07, 2017 05:17 AM
Rainmaker
2,099,069
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

What demand for short sales? In my market there are very few of them. And for years, once I explained to my clients what was involved in a short sale, 99% of them decided not to pursue.

Dec 07, 2017 03:59 AM
Rainmaker
610,900
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I'm not seeing any demand for short sales these days, although a few still pop up now and then. I had CDRS and CDPE designations, etc but I don't think those impressed amyone. Short sales can be time consuming, so I can handle them, but they aren't my focus.

Dec 07, 2017 03:06 AM
Rainmaker
346,513
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

I've been working the short sale side of the market in Connecticut since the market turned here in 2005. I just speak about it when we post a Just Sold, I post informational articles about it,  I put it in my title on sites like Linked-In "Short Sale Expert" & just doing my job well- have had no one I've taken on go to FC- so people are grateful & word of mouth goes a looooooooong way, I get a ton of referrals. I admire that you chose to  work that niche when many agents steer clear of it. All one has to do is pull up a recent list of defaults & they'd see people in need of a short sale are everywhere. 

Dec 07, 2017 07:05 AM
Rainmaker
3,941,599
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

I remember when short sales were considered the "top dog" of listings.... Bill Gassett was an expert with short sales and he wrote blog posts and saturated the Internet with his name and his short sale expertise.... HE MADE A BUNDLE!!!

Dec 07, 2017 06:28 AM
Rainer
8,794
Tyra Hatcher Mitchell
Alliance Realty - Portland, ME
Southern Maine Realtor

I did a lot of them for a few years. I got my CDPE designation and used their platform to drive business. Nowadays, our local banks have go their go to agent OR are going directly to their best investoment borrowers and bypassing agents altogether.

Dec 07, 2017 05:53 AM
Rainmaker
3,925,426
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

By my past successes.

Dec 07, 2017 05:28 AM
Rainmaker
599,065
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Tell other agents you do short sales.

Advise them whether you negotiate the deal yourself.

The other agents will sent the pain your way.

Then follow the marketing example of the 'investors' in your area. The tried and true 'Behind on payments' does work. But you need to get ahead of the Lis Pendens announcement. At that time the home owner will be in a state a siege from well intended profiteers. 

In your homeowner marketing I suggest devising a means for them to avoid shame. That means they get meaningful information without a face-to-face (shame).

HINT: a primary cause of financial calamity today is health-care costs and the associated opioid epidemic. This could be a clue to get ahead of the lis-pendens flood.

Dec 07, 2017 05:10 AM
Rainmaker
2,372,290
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Never was part of my plan, but many here in the Rain were very successful!

Dec 07, 2017 04:50 AM
Rainmaker
469,680
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

They're pretty routine in this market and I'm leaving them to those with a passion for them.  Best wishes for success! 

Dec 07, 2017 04:32 AM
Ambassador
1,231,869
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I was grateful for the short sales I did after 2007 and I am grateful for not having to do them anymore.

Dec 07, 2017 04:27 AM
Rainmaker
347,303
Peter Mohylsky
BETTER HOMES AND GARDENS REAL ESTATE - Destin, FL
Your Bucket List Broker in Destin, Fl..

Short sales have dried up here for the short term.  I think they are still out there.

Dec 07, 2017 04:02 AM
Rainmaker
3,706,586
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good luck.

Dec 07, 2017 02:30 AM
Rainmaker
3,329,485
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

The few I did I dd with knolwledge of the process the sellers will go through

Dec 07, 2017 03:04 PM
Rainmaker
968,649
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

My area has recovered from the crash and short sales are not as plentiful as before.  Use your experience and knowledge and market that.

Dec 07, 2017 10:05 AM
Rainmaker
4,265,147
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

I have promoted foreclosures rather than short sales.

Dec 07, 2017 07:35 AM
Rainmaker
2,190,025
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

In business everyone claims to be THE ONE. The emphasis should be on what the person does if engaged by another for services. For instance: I always boast of my 777 policy. 7 days a week from 7 am to 7 pm I will be available. I don't know what the other fellow does nor do I care but hire me & get this!

Dec 07, 2017 07:07 AM
Rainmaker
940,634
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

On the rare occasion I have stumbled across one, I always reach out to a very experienced short sale agent to "share" the listing and do the negotiation end of it.  So, that may be another avenue for you - referrals or shared listings with agents who aren't at all interested in them. 

Dec 07, 2017 07:05 AM
Rainmaker
3,222,395
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Even in the days we HAD short sales, I did not.  We only see 2-3 in all of Denver now.  Good luck!

Dec 10, 2017 03:22 PM
Rainmaker
1,212,569
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

Yes, absolutely. 

There are very few short sales in my hood as well, but they are going to be back........unfortunately, the history always repeat itself. 

Dec 09, 2017 10:59 PM
Rainer
150,347
Susie Kay
Ultima Real Estate - Plano, TX
North Dallas Specialist

Short sale is not common anymore in my area.  However, you could meet other agents on any function and introduce yourself as a short sale expert.  Ask them for referral.

Dec 08, 2017 07:36 AM
Ambassador
1,848,744
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

       I refer my short sales to two brokers who know the asset managers at every bank, they know the law firms who take over when the Lis Pendens get filed, they have closed dozens of short sales. 

       If I was going to specialize in short sales, I would partner with those Brokers, or get on their team, to gain the real world knowledge and experience needed to be a successful short sale agent.

     

Dec 07, 2017 07:40 PM