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*** Short Sale Resource *** Wisdom from the guy who gets it done!!

By
Real Estate Agent with Newberry Realty, Black Diamond

guy pulling hair out    I had a great opportunity at my weekly staff meeting at Newberry Realty yesterday to gain another valuable Short Sale resource. Our guest speaker was Michael Hellickson Founder and Owner of www.theshortsalecompany.com  Currently he has 88 active listings on the NWMLS and about 300 contracts pending bank approval or in escrow. About 85% of his transactions actually close which is amazing given the amount of business he does. 

Although he is based in Washington State, his company also works with agents in all 50 states. He will give a 25% referral fee if you would like him to handle your Short Sale listing in it's entirety. Or for a % of the commission you can handle the listing and his company will do all the negotiating with the bank and lien holders. He has strong relationships with many of the banks and while you still have to wait for approval like everyone else it might help up your chances of finding a rainbow at the end of the wait instead of a dead end.

I personally have not used him yet but I have heard that he knows how to get the job done and if nothing else I intend to gain any knowledge I can from what he has already learned. He teaches classes to Realtors and lawyers all over the country and WWW.CKGTV.COM has been doing a 3 part Pod Cast on him that I would recommend watching.

Best of luck and hang in there!

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Michael Wayne Jackson
Coldwell Banker - Novato, CA
Broker - Seniors Real Estate Specialist Novato

I will check this out it sounds interesting. I wonder if he has any testimonials from other agents that has gone through him.

Aug 07, 2008 07:55 AM
Bill Ladewig
LoanOfficerSchool.com - Escondido, CA
Experience Is Your Advantage

Consider FHA's 203(k) rehab loan when you have buyers for trashed REOs.  It is great product for this market.  There is a short PowerPoint presentation on my site at: http://yourFhaGuru.com/203k.html

 

 

Aug 07, 2008 08:03 AM
Billie Chubb
Chubb Realty Group - Wilmington, DE

How does he get so many short sales? Does he have the banks recommending his name or something? That is an extremely impressive business model.

Aug 07, 2008 08:07 AM
Lorrie Smith
Newberry Realty, Black Diamond - Black Diamond, WA

I am sure he does. He claims the majority of his business comes from referral, ALLOT of agent's from all over the Country use him to partner with them on their deals. Our office has not referred business as of yet but we have dealt with him while representing buyers. Not all buyers agents are happy that he sets the SOC at 3/1.5 and over all listing at 7% But with these deals it really is the listing side doing most of the work specially when in the end the bank will most likely knock it down to 6% anyway.

Aug 07, 2008 09:01 AM
Robert Vegas Bob Swetz
Las Vegas, NV

Lorrie - It's a new world out there with all these REOs and short sales. I have agents in my company that took some advise from our Broker two years before this ever happened.

These agents are connected with banks and really making some money. It is the trickle effect though. I sell Commercial Real Estate and work several other businesses that I own. So I haven't done any short sales of REO transactions.

" GOOD LUCK "

Like the post,

Thanks!

Aug 11, 2008 05:53 PM