Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker)

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Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Noah...I would check and see how much out of pocket you may have to lay out.Should not be a problem unless no one is living in the homes.

Feb 08, 2015 10:00 AM
Rainer
389,243
Anna Hatridge
Goodson Realty - Farmington, MO
Missouri Realtor with Goodson Realty

I don't mind being a short sale listing agent.  Actually, I find it less stressful than trying to represent a buyer in a short sale.

Feb 08, 2015 09:45 AM
Rainmaker
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Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I specialized in short sales in 2008 thru 2011 and they take an awful lot of work. You have to have patience, deep knowledge, be well organized and a time slot to work them.  Or hire someone to do it for you.

Feb 08, 2015 09:44 AM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Noah Seidenberg go for it! It's a great opportunity. And well, you know the process anyways. From listing side for a short sale,  yes, it's lot of work however, you can do it!

Feb 08, 2015 08:54 AM
Rainmaker
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Catherine Ulrey
Keller Williams Capital City - Salem, OR
Equestrian and Acreage Property Specialist

If you have a fair amount of business already, I wouldn't bother.  They will take up probably 60% of your time, and take years off your life.

Feb 08, 2015 08:04 AM
Rainmaker
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Mark Don McInnes, Sandpoint
Sandpoint, ID
North Idaho Real Estate - 208-255.6227

I agree.  There are a lot of questions to the question.  We have agents that list bank owned homes but banks are not involved in listing a short sale.  They 'OK; an amount based on time on market and offers received, or not prior to it becoming a short sale.  At the time of Short Sale owner still has control of the home and accepting or not accepting an offer prior to the bank seeing it.  

Mark

Feb 08, 2015 07:52 AM
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

I'm not sure I understand the question because in a short sale the seller is usually still the owner and not the bank.  Are the banks making recommendations to sellers as to which agent they should be using?  If so, are they expecting to pay a lower commission?  And would you be responsible for the short sale negotiations or can seller use an attorney for that?  I guess it all depends on what is expected of you.  I will list short sales but once I have a contract, I work with an attorney for the egotiation part.  

Feb 08, 2015 07:35 AM
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Raoul Loustaunau
REALTY ONE GROUP - Phoenix, AZ
urhomefinder.com myvaluetoday.com

Noah ,if you are going to help them and it does not cost you money to get the listings its fantastic , if you are going to pay to get on some banks list i personally don't like the idea.well just me ; have a great month

Feb 08, 2015 12:04 PM
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Thank you Anna Hatridge  I am quite aware of that.  :-)

Feb 08, 2015 10:23 AM
Rainer
389,243
Anna Hatridge
Goodson Realty - Farmington, MO
Missouri Realtor with Goodson Realty

Silvia Dukes PA, REALTOR as a short sale listing agent you list the property same as always, but when an offer comes in the seller can accept it but the lender has to approve it too.  The lender is getting shorted on money when it is a short sale and therefore they have the right to say they will not accept that amount for the for the entire mortgage to be released.

Feb 08, 2015 09:48 AM
Rainmaker
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Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Like Evelyn Johnston I did a lot of short sales and REOs a few years ago. Very time consuming when your representing the selling side.

Feb 14, 2015 10:22 AM
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Not a mistake if it's a legitimate business.  Though, I'm skeptical.  Are they charging an upfront registration fee?  If so, I will bet it's bogus.

Feb 09, 2015 06:35 AM
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Go for it. This is a great opportunity to have serious discussions about timeliness of responses and being reasonable. Get them onboard with you first.

Feb 09, 2015 05:17 AM
Rainmaker
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Gloria Todor
Century 21 Absolute Realty - Springfield, PA
& Doug Durren (484) 431-3686 in SE PA

Noah, As others have mentioned you need a lot of patience with short sales.  We have helped sellers with short sales and are happy when we can help a seller sell, but it can be very frustrating for sure and you really can work hard for your commission.  It is even harder when the bank decides to pull the rug out under your hard work and they put it up for auction.  Sounds like a good opportunity to check out short sales if they do not require you to be locked into a contract with this referral organization.  Personally though, if I had to give some of my hard earned commission in a referral fee I would pass on this "opportunity" of short sale leads.

All the best.

Feb 09, 2015 03:18 AM
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Devin Veith
Amp Realty - Louisville, KY

Sounds like a great opportunity.  A lot of banks will give you the listing if the house becomes a foreclosure. Good luck!

Feb 09, 2015 02:53 AM
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Shannon Thomas
Selling Indy Metro, LLC - Avon, IN
Managing Broker, E-Pro, ABR,SRS, SFR

I listed shortsales until late in 2013.  They all take an unbelievable amount of time and to get completed sometimes it takes calling the lender everyday.  the last one it took both the seller and I calling every day. We had 3 neogiators, two we never heard from (not a peep)  The last negotiator we at least had communication but still very poor.  It was completed but I said never again.

I'll just be on the buy side of short sales and let someone else have all that time consuming fun.  lol  

Feb 09, 2015 01:25 AM
Rainmaker
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Jill Moog
Coast & Country Homes and Estates, Inc. - Carlsbad, CA
Carlsbad, CA Homes for Sale

Hi Noah,

Congratulations are in order. If you have never listed and successfully closed a short sale you might want to look into the CDPE course. I'm not even sure they are still offering it but it does cover most everything you need to know to  successfully list short sales. There is a tremendous amount of work involved and it needs to be done right, plus each bank has different procedures. 

However, if the bank has already agreed to approve these short sales you already won half the battle!

Feb 08, 2015 11:53 PM
Rainmaker
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I would ask what does it cost? I woudl not pay anything up front for leads. If they have a referal fee, i would make sur eit is only to be paid when teh home closes. I have taken numerious listings like this, but made sure it didnt cost me anything

Feb 08, 2015 09:44 PM
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I thought the selelr chooses the agent. How does the bank get involved? 

Feb 08, 2015 09:11 PM
Rainmaker
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Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Listing short sales can be very complicated. I don't do it--I have a colleague who specializes in listing short sales, so when I get a listing that is a short sale, we share it--he does all the paperwork with lenders and I do the marketing. Be sure you are really on top of your listing game for short sales if you do this.

Feb 08, 2015 07:55 PM
Rainmaker
729,375
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

What is a short sale listing agent for major banks? Makes no sense. Do the banks own the homes? If so, they wouldn't be short sales. If not, the owner of the properties choose their agent, not their bank.

Feb 08, 2015 07:47 PM
Rainmaker
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Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

If the opportunity sounds right to you, and as long as there are no fees involved, go for it...

Feb 08, 2015 07:34 PM
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Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~ yesmyrealtor@gmail.com

I would do it if they are asking you to do it.  If you have to pay a fee to join or put money out to the organization... no way

Feb 08, 2015 06:59 PM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Noah,

No matter what everyone says or thinks, you are truly the only one who knows the right answer.  If it is a "hell, yes",  then do it.  If you are not 100% sure, then say no...A

Feb 08, 2015 01:45 PM
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Ask a lot of questions, but I think it sounds like a wonderful opportunity. These are a lot of work...on both the selling and listing side. I have one short sale file that is about five inches thick. I was the listing agent. 

Feb 08, 2015 12:35 PM
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Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Silvia Dukes PA, REALTOR an attorney. Yes they are making recommendations. 

Thanks for the encouragement friends, I just do no want to get in over my head.

Feb 08, 2015 11:49 AM
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Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Regular commission its just that I was asked if I would like to handle multiple Short Sale listings and I have never done one. I have probably sold 6 or 7 short sales on the buyer side, done quite a few sales of Foreclosures on the buyers end over the years but I am ignorant on the listing side of short sales. I always have regular listings but I do 80 to 90% buyers agents deals, it's my niche.

 

I just know that no one in my office is going to help me so I can't decide if I should accept the offer. If I did I want to be professional and do a good job.

Feb 08, 2015 11:35 AM