How one agent doubled his income on a short sale listing

Real Estate Agent

We had an agent use our strategy to double side his short sale listing. He promoted the house using our instructions and held it open from 1-2 on Sunday. About 30 people showed up. He got a good offer that looks like it will go thru. Best of all he is double siding the house.

Here are a couple tips that you should use if you decide to double side your short sales.

1: Run the marketing for the home for 2-4 weeks before you do the open house. This will help to get a higher sales price and more buyers. We found we got more and better offers over the longer time period.

2. Use a simple offer sheet at the open house to get the offers. This saves time on writing up 5 sales contracts. Besides, you really only need to discuss price. Don't waste time arguing over deposit, inspection clauses, interest rates, closing date, etc. Let everyone go home and tell them the seller will accept the highest offer on the table at noon on Tuesday. Why should you do that?

Between Sunday and Tuesday, all the real buyers will raise their offers. On Tuesday afternoon you will know who the top 1-2 offers are and you write contracts for those. This saves a ton of time on wasted paperwork.

Get more info on how we double side every listing at .

Got questions about short sales? Just ask.

Ben Curry & Chris Curry

P.S. It's easy to double side every short sale when you follow a system. Short sales usually represent a bargain. Buyers want a bargain. We started double siding our short sales because we were looking for a way to increase my income from short sales. I knew I could work more hours, go on more appointments, take more listings, and close more list sides.

But, I figured I could increase my income by simply double siding more of my existing listings. After all, my team was doing twice as much work on a short sale. Here's what happened.

When I reviewed my prior showings to interested buyers, I discovered that I spent too much time driving to show a listing. Most agents use what I call the "pop-tart" strategy. This means they will show a buyer any listing, at any time of day or night. This way of double siding listings just isn't effective. I finally put together a strategy that enables my team to double side every short sale with only an extra 4 hours of work.

Here is what we saw after implementing this strategy:

1. We had more reliable backup offers on all our short sales. If the first buyer walked, it didn't completely kill our sale. The lender allowed the backup buyer to step forward without re-starting the short sale process.

2. We were able to double side every listing without showing the house 10 times. No more being a "pop-tart." Today we show each listing only twice. If the buyer doesn't want to work on our schedule, then we'll just sell the house to someone else.

Get more info on how we double side every listing at .

3. Our listings sold faster and usually for more money.

4. We have better control over the buyers. In fact, I've heard some agents say the following. "The banks should just foreclose on the homes faster and sell them as an REO," they say. They think this way because buyers get an answer on REOs faster. But, is that really fair to the short sale seller.

Are you sick of buyer's walking a week before the short sale is approved? Does it make you feel tired when the lender closes the file? Now you have to re-start back at the beginning. Aarrrggghhh!!! Or someone who doesn't understand short sales blames you when the lender doesn't move fast enough. We no longer experience many of these problems.

See how we doubled our profit on short sales here: .

Comments (1)

MichelleCherie Carr Crowe .Just Call. 408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

There was a time when this worked well-now the banks are bargaining about the commissions paid.

Aug 05, 2014 03:01 PM