Short Sale-Next Step...

Hi Members.
My realtor emailed me the short sale list. I’ve done direct short sales with home owners. How should I submit offers thru the mls? First Steps?

Here is my take on it I submit offers on all of that I can. Get a pre-qual and write 10-20 offers a day this is a numbers game. I have been in this for years. I guess what the real question here is what are you planing to do after you get the properties?


Good to meet you

The easiest way would be to obtain a real estate license first and join your local board. Or hire a aggressive agent. The only real issue you face is getting agents to correspond with you and take your offer seriously… As a Broker in California and also an Investor I can say few agents want to baby sit an investor who is making multiple offers.

Every time I see it I give the offer(s) little credibility. As a Broker I do not use the standard Realtor lock boxes. I do this so I know who is looking at my property and I control the “Have they even seen the house yet issue” as well as being able to show a home to a non agent without driving all over town. Combo lock boxes are great. If the buyer hasn’t previewed the property their offer goes into the trash until they do.

Sight unseen offers are a waste of everyone’s time.

Once you either become a Realtor or find one. Make reasonable offers. Why waste time trying to low ball an offer that will not be accepted by the lender. Very few Realtors understand how to manipulate the BPO(s) and if yours doesn’t your low ball offer wont get accepted.

And if the Realtor did know how why would they work for 3%…

I am certainly not saying you wont find a deal to buy however this idea that you can go out and buy large amounts of property through the MLS is just setting yourself up for failure.

If you wanted to buy through the MLS look for High equity 160+ listings and make some creative offers or wait for them to expire. Most do at 121 and 181 days.

Or set yourself up with one of the REO agents and make offers there. Only issue is that youll be competing for the deal and therefor over pay.

I would rather you learn to prospect yourself and deal with the sellers directly…

Good luck.


Don’t waste your time buying through the MLS. Find a Realtor that “gets it”. Have them send you a short sale lead as soon as they get it. If it fits your criteria then put it under contract and have the Realtor get the SS package completed. When a property has been on the MLS then you may have competition. I don’t want competition on the deals I am negotiating. Have the Realtor put the property as under contract and that they are only taking back up offers. Once you do one deal with one Realtor in a brokerage then you’ll get more Realtors. You need to build not only a relationship with said Realtor but you also need to have the Realtor know what types of properties you are looking for (3/2’s 4/2’s, etc.)