The last teleconference went so well I thought I'd give it another whirl. If you are not sure you want to deal with short sales or just need some basic steps on how to work them, you'll want to tune in. See you on the 7th!!!!
Okay, I can admit it. I don't know much about short sales. I know more than I did six months
ago because I listed one (that never sold even though I had an offer) and I wrote an offer on a short sale a few weeks ago (to which the agent hasn't responded - sheesh).
In the Good Old Days, I proudly proclaimed that I had enough business (thank you very much) and had no need to involve myself with short sales or other such nonsense. So by gawd, I wasn't going to learn anything ‘bout ‘em.
Uh, well, today is somewhat different. If you don't understand short sales, you're not really a full-service real estate agent. It's not the same thing as, say, not understanding land sales or commercial leasing as a residential real estate agent - no, the dreaded short sale is an integral part of a residential real estate business these days, like it or not. (darnit!)
Of course, there are those who say that short sales are a waste of time and have a small chance of success. And that may be true. But it doesn't mean that you shouldn't understand them and be able to make that decision for yourself... or commit to yourself to becoming the expert and getting your short sale buyers & sellers to closing!
With that in mind, I've invited one of my favorite Active Rainers to share her secrets for selling & closing shorts sales. Following up on the phenomenal success of last weekend's "Persuasive CMA" teleseminar, on Saturday March 7th, we'll have another teleseminar workshop where Janie Coffey will join me (and all of y'all) to tell her story and answer our questions about short sales.
Here are some questions I'm expecting answers to:
... who pays the commission and how much?
... what if there is more than one loan?
... how do I know if the SELLER will qualify?
... does the seller have to be behind in their mortgage?
... do you/should you/can you accept more than one offer?
... how should you price the home?
I'll probably come up with a dozen more, but what are YOUR questions about the process? Any horror (or success) stories you'd like to share? Please do!
To register for the workshop, click here to be whisked away to the registration page...
See you on the 7th!
UPDATE!!!! Janie's got a gu......est.... Fellow Floridian Broker Bryant will be joining Janie on this conference to contribute his short sale strategies - is this a power conference or WHAT???
p.s. Wanna see me on TV? This just ran last night here in Denver... http://cbs4denver.com/recession/home.staging.sales.2.932147.html
Hey BB,
I think from all the experience I've had with them...I could give my own seminar...I'd rather just try to close them instead of talking about them......too stressful sometimes.
I have been resisting the short sales all together but I am getting so many phone calls that I feel I need to start capitalizing. I will be there.
Bryant,
One of the best ways to sharpen your skills, no matter how formidable is to teach!
I too have done short sales, from both sides of the desk and if at all possible I'll log in. I've never attended even a bad class that I didn't learn from even if just from bad examples. I don't know Janie, but I'm looking forward to it. On the other hand I know you and know its going to be a good use of my time!
Bill
Bryant--I have avoided for a long time and now in the process of representing the buyer on one...Guess it was unrealistic to avoid forever. Education is essential. If I can't make the teleconference, I will be attending cont ed classes locally.
BB, awesome. I'm going to try and clear my calendar for this. Sounds interesting. I've only done one short sale package and would love to learn more. :-)
BB, This sounds like a great teleconference. I'm sort of in the Jennifer camp...I did a couple of short sales in the 1990's but haven't been involved in any so far here but they are out there. I am finding that we seem to have more going straight into foreclosure rather than short sales....probably because many are builders. But, I anticipate more short sales in the future.
Hey Bryant, I am really looking forward to the course!
BB- I signed up. Looking forward to it. I am sure there will be tons of great information.
Best,
Scott
BB - Marked on my calendar. Looking forward to it. I'm sure there will be a lot of seller references. What about buyer side?
Here in NYC short sales are on our horizon. They are not in full effect, but probably will be for some sellers. I will definitely be listening to that teleseminar.
Unfortunately I think this is going to be more common in my area in the future...so I'll be there.
Well Hi all!!! I'm looking forward to this seminar. I think we are planning a very informative event. If ya'll do have questions please leave them here in the comments or email Jennifer, Janie or myself. We'll do our best to answer them during the teleconference. Thanks!!!
Bryant,
Have you had any success in getting the bank to pre-qualify the house/debtor for a short sale before you have an offer?
Bill
Bill, Nope. Never tried. Any price that a lender approves would be worthless in about a week in my market. I'm not aware of ANY lender that will approve a price prior to receiving a contract. I do know that FannieMae has launched a program with Country Wide where they are trying this out but I'm skeptical to say the least.
I read a post earlier where the writer stated that ALL short sales should be pre-approved and gave the impression that he is achieving that right now. I don't believe it. However if you have info I am not aware of please let me know.
Bryant - congrats on getting this gig. I know you'll do a wonderful job. I've learned a lot just reading your posts.
I'm signed up and looking forward to it.
This sounds like a great teleconference. I listed a short sale but the bank went forward with the foreclosure even thought we had a good offer on the table. I look forward to it! Thank you.
Looking forward to learning some good tips on how to work this market.
I will tune in I love getting new info. thanks