I had a conversation with a broker in Berrien County (Michigan) last week that got me thinking : When considering outsourcing short sale negotiations to a 3rd party (title company, attorney, investor, etc), what questions should you ask to be sure you're recommending the best solution to your seller? That's what I will cover in this post.
This broker was looking to outsource his short sale negotiations to a third party because of the amount of work involved He'd already burned through three other companies and was not happy at all with the results. He asked what I could do. I'm not much of a sales person so I simply asked him to watch this webinar replay to learn what my team does. We'll talk more next week.
So after some thought, I came up with the following questions that I think you should ask any short sale negotiator you are considering outsourcing your Michigan short negotiations to:
a. How long have you been negotiating short sales?
b. Over the last 6 months, what percentage have you gotten approved?
c. What will you do prior to getting an offer from a buyer to help speed up the process?
d. On average, how long does a buyer have to wait before you get a short sale approval? For Three-Party Short
Sale Negotiators/Investors ask these additional questions:
e. Over the last 6 months, how many short sales did you have accepted before you had a buyer lined up, and how many of those did you close on?
f. How many other companies like yours from around the country are you affiliated with?
Of course the biggest advantage to outsourcing is the time it frees up to focus on "revenue producing activities" (listing and showing homes). If you can find someone (like my team) to make sure you get full commission without charging the buyer or seller a fee, that's a huge plus. Best of luck in your search!
Dedicated To Your Success,
Joel Short Sale Negotiations: you earn FULL COMMISSION and no fee to buyer/seller – www.GreatLakesShortSales.com