As an REO Broker/Associate in Sarasota, FL with Keller Williams Realty, my team has handled a Lot of Cash for Keys Evictions (especially lately), and overall we have had great success with this. Experience has taught me some key points to make sure the transaction goes smoothly. Here are my key points:
1. After you have initially investigated to see if the property is vacant, make a strong statement to ensure the occupant will be calling you back quickly to discuss a Cash for Keys offer. What do I mean? ... If you show up at the house and occupant is not home, let it be known you were there and you need to talk to the occupant about something important. To me this means, posting a bright yellow notice on their door, with my contact information. The objective is to have the occupant call my office as soon as they recognize we need to talk with them. I am not concerned if they are upset at this point ... just that call me quickly so I can potentially avoid from having my client evict them (because they did not act quickly).
2. Over the phone be clear why you contacted them, the Cash for Keys offer and when the offer will expire (usually 24 hours) ... then Listen to what they have to say (even if it takes time and you really don't want to hear their story) ... give them the change to be heard. This to me is the most important part, as this is where you will establish trust for a successful conclusion. If you are respectful to them and demonstrate this, you will gain their respect and the situation will go much better for everyone.
3. Upon an agreement of terms, let the occupant know they will have to come to your office to sign the Cash for Keys agreement --- Under No Circumstances violate this rule. The prospect must come to you as this establishes control, credibility and will save you time.
4. The appointment is were you lay the groundwork for the day you plan to give them the check for the cash for keys. Explain to the occupant that they will only have one chance to get it right. This means that if you show up the agreed day for the Cash for Keys transfer and they are still moving out, they will Not be receive their check. This also means no trash in the yard or house and the home must be broom swept. Finish your statement by asking them to repeat what you said ... Why? Because this point needs to be understood up front so they understand the rules and the rules cannot be broken, if they want their money.
5. On the day of Cash for Keys, show up and inspect the property. If you have set the occupants up for success, you will usually never have a problem.
In closing, remember we are in the business of helping people, and this is a situation where Strong Guidance benefits everyone. Thank you,
Troy Funk, Keller Williams Realty on the Water Sarasota Florida www.SarasotaRealEstateGallery.com
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