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Where to look for your next short sale listing

As the economy shifts, short sales in real estate continue to be a commonality, and many real estate agents are learning how to improve their skills in performing these types of listings.

real estate short sales

real estate short sales

2012 Is Still the Year of the Short Sale

Despite what the person in the office next to you might be saying, there are still plenty of opportunities to list a short sale. The Mortgage Forgiveness Act of 2007 is still set to expire at the end of the year; this means that those who want to take advantage of this program need to get their homes listed (and closed) as short sales as soon as possible. Additionally, there are still a number of great relocation assistance programs available through many of the major servicers. With these stars still in alignment, now is a great time to take a few short sale listings.

Here are a few places where you might be able to find your next short sale listing:

  • The office. Listen to the other agents long for the days of yore when listings grew on trees and everyone was making more money than they could imagine. These same agents may not consider short sales their cup of tea. Why not approach those agents and let them know that you are willing to take those transactions off their hands and will gladly accept any referrals?
  • Your accountant. Now, this will not work if you are using TurboTax. But, if you use an accountant or CPA to prepare your taxes, know that he (or she) comes in contact with lots of folks that may need the services of a short sale agent.
  • Online. There are lots of different online platforms where you can obtain pre-foreclosure data. Three popular platforms are www.rebogateway.com, www.realtytrac.com and www.foreclosureradar.com. You can obtain data on all sorts of things, such as pre-foreclosure notices, and recent divorces. Use this data when sending out direct mail.
  • Answer your phone and return all phone calls. I make it my policy to return all phone calls. I answer tons of questions from folks all around the United States about the trials and tribulations of short sales. My general good will has lead to countless short sale listings and referrals.

So the next time you are considering going out to market for more short sale listings, you do not have to go too far. Many of the tools that you need are all around you. The question is: Do is use ‘em?

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Written By

Melissa Zavala is the Broker/Owner of Broadpoint Properties and Head Honcho of Short Sale Expeditor®, and Chief Executive Officer of Transaction 911. Before landing in real estate, she had careers in education and publishing. Most recently, she has been able to use her teaching and organizational skills while traveling the world over—dispelling myths about the distressed property market, engaging and motivating real estate agents, and sharing her passion for real estate. When she isn’t speaking or writing, Melissa enjoys practicing yoga, walking the dog, and vacationing at beach resorts.

3 Comments

3 Comments

  1. BlueFernRE

    July 24, 2012 at 3:57 pm

    You forgot the most obvious one, go to an agent 🙂
     
    https://bit.ly/bluefernblog
    @BlueFernRE  

  2. Marki_Lemons

    July 25, 2012 at 9:46 am

    Melissa, thank you for rekindling an old idea I had developed but have not used in a couple of years. I created a referral form years ago and emailed it to agents in my sphere. As a result of your post I dusted off the form and posted it as a blog and I set the form  to go out as an eblast. To make it easy for other agents I set up expectations and included the referral agreement with it being partially completed. Here is a link to my blog, http://www.markilemons.com. @Marki_Lemons.

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