REALTOR Moms - How DO You Get Your Buyer that Short Sale??

Education & Training with Sell with Soul

Oops - kinda like a fax that gets stuck together, I'm combining my announcement of two upcoming phoneteleseminar workshops...

On Saturday, April 18th, Janie Coffey & I will host a follow-up teleseminar to March 7th's show about the Art of the Short Sale. This program will focus on the Short Sale from the Buyer Representative's perspective - that is - how to get your buyer the house he wants... even if it IS a short sale (ugh)!

Many agents, myself included on lazy days, avoid showing short sale listings because we either 1) have heard that they never close and/or 2) don't wanna wait that long for a paycheck and/or 3) don't understand the process well enough to feel comfortable guiding a buyer through it.

Hey, I get it. I fondly remember the days of writing an offer, waiting a day or so for a response, and then confidently moving toward the closing 30 days later. But, alas, the Short Sale is here to stay, for awhile anyway, so let's go ahead and figure out how to make it work... for both us AND our buyer!

To register for the SHORT SALE SEMINAR, click here!


Also on the calendar, in honor of Mother's Day, is the REALTOR Moms - How DO You Do it? seminar on May 13th. I've assembled a panel of experts (that is, real Moms who somehow successfully sell real estate full-time) to offer their ideas and strategies for coping with the day-to-day challenges of Working Mom-hood.

To register for the REALTOR MOMS SEMINAR, click here!

Even if you're not sure if you can attend, go ahead and register so you'll get a recording of the seminar afterwards!




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Christopher and Stephanie Somers - Realtors - Philadelphia Real Estate
Realtor / Owner - RE/MAX Access - Philadelphia, PA

Jennifer - Sounds like 2 great seminars.  Especially the short sale one as there really is so much confusion out there regarding that process.  A short sale is not for every buyer but with the opportunity to get a pretty good deal it is something to think about if they are patient.

Mar 25, 2009 12:19 AM #1
Maggie Dokic | Miami, FL | 305.81.HOUSE (46873)
eXp Realty LLC - Miami, FL
GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |

Keep providing these great resources Jennifer.  I dislike short sales myself but have 2 of my own listings well on their way.  One's been approved and on the way to close and the other's had 3 offers submitted.  I'm thinking the bank's got to like at least one of them. =)  They really can work and knowing as much about them as possible is key.  Of course, if the listing agent doesn't know how to work the short sale strings, there's not much the buyer's agent can do.  LOL

Mar 25, 2009 12:25 AM #2
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

It is about the lister with a short sale...if they don't have experience..don't show it...if they have successful experience, know you are getting a great deal for your buyer.

Mar 25, 2009 12:27 AM #3
Ron Tarvin
Luxury and New Construction in Katy & Cypress TX - Katy, TX
Broker, Katy, Houston, Cypress 77450,77494,77095

Short sales certainly can be a pain from the buyer's should try the listing side (try faxing your 30 page package to the lender twice a day, 5 days a week for a month to get a response!).  However, I have a nearly spotless record on getting my short sale sellers closed too (only 1 not closed in 5 years).

I have to take exception to :  2) don't wanna wait that long for a paycheck .  That excuse or reason, although probably very real, is fraught with ethical considerations that we don't even want to go down!  If the buyer doesn't mind the wait, it sure isn't up to us to make that decision!

Mar 25, 2009 12:30 AM #4
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co. - Frisco, TX
Real Estate Agents

For now, I think I can make it. But I wont register just yet because if I cant make it, I dont want to take up a spot.

I've learnt alot on how to negotiate on a short sale from a Buyer's standpoint... Every deal, I learn to get better. Thanks for sharing this.

Mar 25, 2009 12:53 AM #5
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

I think it is important to embrace what ever home is best for our clients, even if it is a short sale.  if we can keep short sales from becoming foreclosures that can only be a good thing for a neighborhood.  Imagine trying to sell a home on a block that has vacant homes with over grown lawns ... Not a good thing!

Mar 25, 2009 03:32 AM #6
Jennifer Allan-Hagedorn
Sell with Soul - Pensacola Beach, FL
Author of Sell with Soul

Robert - I agree 100%. But I don't think agents should be representing buyers (or sellers) in a short sale if they truly have no clue what they're doing. This is one of those times where a responsible agent gets help, even if it costs them a few dollars.

Loreena - Hope you can make it! And I'd love to hear some of your experiences and thoughts!

Ron - I hear ya on being the listing agent for a short sale. I haven't done many of them, but I'm involved right now and it's SO frustrating to be told (after your 7 day wait for your documents to be logged in) that one of them didn't come through clearly. Fax it again (and wait another 7 days)!

Sally & David - Very very true. But what do you do if the listing agent doesn't know what she's doing and your buyer wants the house? (That's a question Janie's gonna answer for me)

Maggie - Will do!

Chris & Stephanie - Always something in this business making things just a little more complicated, eh? Guess it keeps us on our toes!



Mar 25, 2009 04:12 AM #7
Sabrina Kelley
ERA Herman Group Real Estate - Woodland Park, CO
Woodland Park Colorado Mountain Homes and Land

There are few reasons not to embrace these transactions considering all the educational information there is on how to successfully negotiate a short sale.

You have to be willing to go for a ride but in the end it can work.

Mar 25, 2009 10:22 AM #8
Heather Fitzgerald
REALTY WORLD-Harbert Company, Inc. - Greenwood, IN
REALTOR Greenwood Indiana Real Estate

Short Sales are a challenge for sure.  I work them aggresively on the listing end with my team, and dislike when one of our buyers wants to put in an offer with an outside company as we don't have control over if that agent is handling their short sale aggresively or if it is just sitting.

Mar 26, 2009 03:11 AM #9
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