Short Sale Basics, Session III--Just What I Needed Today!
Our own Bryant Tutus (BB or Broker Bryant) & Wendy Rulnick just hosted their third, short sale webinar today and boy, was it a jam-packed lesson in short sales! The information gleaned from this series has just been incredible. I have taken courses on short sales and their presentation is just so much more informative and I have learned an enormous amount from them. In the beginning stages of a couple of short sales myself right now, I really needed the expert knowledge that Wendy & Bryant provided today!
Today's lesson was on pricing the short sale. Do you know HOW to price a short sale? What are the techniques used to evaluate the competition and the sold properties to place a fair market value on the home?
You'll want to consider:
At what point do you do a price reduction? How much do you reduce the price and how often?
How do you market a short sale?
Are you in keeping with the Realtor® Code of Ethics? Are you:
- Disclosing that this IS a short sale listing in MLS?
- Sharing equally in the commission splits with the buyer's agents?
- Submitting multiple offers or not?
- Being honest with your peers (the buyer's agents) as to the length of time needed to Close on a short sale?
- Qualifying the buyer before contract negotiations?
Do you have your buyers of short sales:
- Perform inspections?
- Have their lenders order the appraisals upon ratification of the Contract?
When IS the Contract ratified?
WHO is responsible for having the utilities on for inspections?
These and MANY other questions were answered in Part III of the Short Sale Basics course that Bryant & Wendy hosted today.
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Sorry but, if you'd like the answers, you'll have to sign up for the classes!! If you missed the first three, that's okay, they have them recorded and you can catch up so that you're prepared for the next one on Saturday (7/25)! The cost is MINIMAL (only $97)--and for the wealth of knowledge that you'll glean from these true, short sale experts, you can't beat this deal!
OH, and if you missed the surprise announcement--there's a new SHORT SALE SUPERSTARS website being unveiled on August 1! Stay tuned...
Thanks Bryant & Wendy--and, of course, TLW for giving me JUST what I needed today!