Don't Drive By The Short Sales

Don't Drive By The Short Sales: By: Vanessa Saunders,

NY State MLS Blog Post Contributor

I'm finding that a lot of Realtors are turning their buyer clients away from Short Sales. We all know that historically they have been difficult to negotiate. We've gone from seeing multiple offers and the selling agents having no clue as to handle them, attorneys that have no clue as to handle a short sale correctly, followed by months of frustration for all concerned. Now it appears that short sales are seeing minimal traffic or worse, no offers at all. Which ultimately leads to expired listings and even worse for the sellers, foreclosure.

Buyer agent's are clearly fed up with months of angst of dealing with frustrated buyers that finally decide it's not worth the wait and move on to another property, and sometimes, ( blaming you for the debacle,) another Realtor. Why bother?

Well for starters, many more Realtors are becoming either educated or certified in how to handle short sales successfully. For those that care about their clients and their business there are a lot of options out there from state and board education, to the nationally recognized Certified Distressed Property Expert (CDPE) course and many more. I became a member of the CDPE institute 3 years ago, and have found the in depth knowledge I gained to be of invaluable assistance in understanding how to list, market and sell short sales successfully. As a member of the institute we are continuously updated of changes to rules, regulations, and the many evolving issues that this ever changing market brings.

Lenders are facing facts and are now assisting in expediting short sales more often than not. Many have initiated "fast track" programs for short sales, and some attorney's understanding the market changes have put negotiating teams in place to assist with both sellers facing foreclosure and buyers attempting to purchase a short sale. I work with a crack team that honestly makes selling short sales a pleasure from my point of view. My clients both buyers and sellers also reap the benefits of sage counseling from a pro and his team. Seller’s relief is palpable when the full picture of what they are facing becomes clear, and the knowledge that someone "has their back", paints a path to a much brighter future. Buyers are counseled before going into a short sale scenario and come away with an understanding of exactly what's necessary to negotiate a successful deal. Thus I can do my job is exactly the way it should be. Finding the right property for buyers and weeding out those that don't stand a chance of closing.

If more Realtors were to become educated in both the sales side and the buyers side of handling short sales, many more sales could be achieved. A good thing for all and country.

To that end....Here is my latest short sale. Fully marketed, no skimping and pre-cleared by the bank for a speedy sale should we find well qualified buyers.

And please, don't drive by the short sales in your market; make the calls needed to find out if it could be right for your clients. If you don't know the right questions to ask....educated yourself fast or miss out on a part of the market that's not going away anytime soon.