Coaching
Keep Communicating and that Short Sale Actually May Close
Coaching
Disputing a property’s value in a short sale: turn a no into a go
During a short sale, there may be various obstacles, with misaligned property values ranking near the top, but it doesn’t have to be a dealbreaker!
Coaching
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The short sale process can feel a lot like a wild west standoff, but there are ways to come out victorious, so let’s talk about those methods:
Coaching
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Short sale approval letters may look like they’ve been obtained simply by experts, but it takes time and doesn’t just happen with luck.
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Heather Walton via Facebook
March 15, 2011 at 7:53 am
Effective Communication is the KEY to the success of any transaction!
Brad Officer - Short sales Jacksonville Florida
March 15, 2011 at 8:20 am
Melissa, I think this is key! I’ve been able to keep a very high closing ratio on my short sales, and I believe it’s due to the communication with the buyer’s agent. Buyers go through several cycles of emotions in a short sale: Buyer’s remorse, anxiousness for an approval, angry threats of walking from the contract, and finally just giving in to waiting because they’ve waited this long already. Along the way, continued communication keeps them involved and eventually they get the bank approval for closing. Communication is the key.
Dean Ouellette
March 15, 2011 at 11:50 am
Melissa as always you are spot on. You dont need to be a rocket scientist (like my business partner) to get short sales closed. It is all about the basics, staying on top of your files, keeping in touch with the banks and realizing they are not saying “no” they are saying “know” as in they dont know enough to make an informed decision so keep educating.
Of course even then agents wont close 100%, but it will get the number much close to 80-90% instead of the industry average of 40%.
Jill Kipnis
March 15, 2011 at 1:12 pm
Melissa, this is a valuable post for buyers going through a short sale. The key is also patience; remember that “slow and steady wins the race.”
Here’s another interesting article that buyers might find helpful:
https://www.realtor.com/blogs/2011/03/02/be-the-winning-bidder-in-a-multi-offer-short-sale/
–Jill Kipnis, Community Builder @Realtor.com
Lani Rosales
March 15, 2011 at 3:51 pm
Hi Jill, thank you for stopping by. Melissa is writing an ongoing series for real estate professionals about short sales and not addressing buyers directly (as AGbeat is an industry outlet), but you’re SO right that slow and steady wins the race.
-Lani Rosales, Editor-in-chief @AgentGenius