okay, im sure this is sure to start a flame war, but let’s talk about real estate agents/brokers and short sales. 99/100, no make that 100 out 100 deals we tried working with realtors on died, fell apart,went to foreclosure. Heres why
Realtors have one thing in mind: COMMISIONS. thats fine, thats how they make their living, but guess what, the days of just showing up and “showing a house” and its countertops and hardwood floors and then sending a fax and receiving a commisions check a few weeks later ARE LONG GONE!!!
In todays environment you have to WORK. that means not spending your days at the coffee shops, or eating cookies and snacks at open houses, or going to seminars and trainings. that means WORKING YOUR DEALS TO GET THEM CLOSED!!!
nothing frustrates me more than RE agents who say they do “short sales”, yet when I ask them about their process or package or experiance, they say “well, i dont know, I just see what closes”
See these agents just take on a deal from a client, and let’s just say they owe 300,000 on the house. maybe the actual true market value is 250,000. so the agent puts in a short sale offer for 235,900 and thinks thats a good deal!!! ITS NOTTT!
then it just sits and sits and sits, no buyer. what they need to do is WORK and put in the short sale offer at 110k, and actually NEGOTIATE the deal with the bank. THATS WORKING FOR YOUR CLIENT!!! makes me so mad!!!
they wont do that because it affects their commision, so these properties NEVER SELL and go to foreclosure, real good for your client there agent. guess what, got news for you? THE SELLER CAN’T RECIEVE ANY FUNDS FROM THE SALE ANYWAY…SO WHATS IT MATTER?? JUST SELL THE PROPERTY NO MATTER WHAT IT TAKES!!!
Our deals we find on our own, never been listed on the mls, fresh, clean slates. the sellers are cooperative, we submit, negotiate, close and buy the house. no realtors to deal with, no brokers with their hand out wanting money for something they had no part in. none of that.
See to actually close short sales, you have to be 100 percent COMMITTED to the process. you have to have a clean, concise, professional packet that will get the attention of the person at the other end of the bank. you have to have all your information, supporting your offer, you have to actually NEGOTIATE the deal. thats the name of the game here. Realtors dont have the patience, the dedication, or the know how to do this. I CANT TELL YOU how many realtors have come to us asking for help or for our program “secrets” or if we can negotiate the deal for them. Nope, sorry, not gonna do all the work, and you get a commision, why the HELL would we do that? either learn how to do short sales, call the banks, communicate, get updates, work the bpo, be active, or…you too will be in foreclosure. (which happens alot to realtors here, calling us to do their OWN short sales).
okay, im done…
ps: i KNOW not all realtors and agents are like this, but honestly, 99% of the ones we came into contact here are. its uncanny. we keep “giving them a shot” and sure enough…it fails, or goes bad, they get mad because we are contacting the seller, or they dont like the documents and disclosures we use or “thats too low of an offer”,blah blah blah.