A Loaded Question…How to Pick a Great Short Sale Real Estate Agent

With the housing market implosion and the dramatic rise in Foreclosures and Short Sales, it is vital that you pick an experienced real estate agent who really understands the Short Sale process. This can play a major role in the successful closing of your Short Sale transaction.

Here are some key bullet points to bear in mind when researching prospective agents and their individual “team”…yes I said their “team”.

**Having a team is an important aspect of being able to provide the level of service that should be expected by each client. This is due in part to the nature of the Short Sale process. Banks are so overloaded that they cannot keep up with the amount of files being handed to them each day. A good Short Sale agent will need to frequently check with the loss mitigation department for status updates as well as follow up to make sure they received all the documents for the Short Sale package. Sometimes this requires multiple calls in a given day.

**How many listings does your team have?
**How long have you been in the business?
**Do you have a “system” in place to handle your Short Sale business?
**Are you a “Certified Short Sale Specialist“?
**Do you have a checklist of items I need to prepare for the Short Sale package?
**What happens if I get a Notice of Default? (NOD)
**Do you have a list of Attorneys and CPAs that I can contact for council?

These are some important questions that you as the consumer should ask. If the agent in question does not have a system in place and cannot be the “source of the source”, you may want to continue searching for another agent.

Here are some important websites that you as the potential seller should read and review:

www.IRS.gov and click on the Mortgage Debt Relief Act of 2007.

www.HUD.gov and click on Avoiding Foreclosure page.

www.MakingHomeAffordable.gov for more information on President Obama’s plan

www.Freddiemac.com/avoidforeclosure

These are all sites where you as the potential Short Sale client should spend some time and do research prior to meeting with any professional. This will give you some basic knowledge that will not only guide you through the Short Sale process, but will empower you as you make your choice of professionals to guide you through this mine field.

Do your due diligence. Do your research. Empower yourself through this process.

Categories: Real Estate & Short Sales

Tags: Foreclosures, freddie mac, HUD, IRS, loss mitigation, NOD, notice of default, Real Estate, Short Sales

About Martin Casper

Being an entrepreneur has given me a deep appreciation for individuals who are success oriented and never give up. The drive to always “push through” is a trait of successful people. I have been fortunate to associate myself with many successful individuals over my life. It began with my father who instilled in me the ability to step outside of the box…to create something out of nothing. He taught me the importance of integrity in business...traits that I have incorporated into the various business models I employ. I spent the first ten years of my career in the medical field. I worked side by side with amazing individuals who put their own self-interests aside in order to nurture others back to good health. Many times I witnessed life and death situations. It was always humbling to experience the team-work that evolved around trying to save a lives. As my career path evolved into the business world, not only could I bring those experiences into my persona, I saw a need to spread information…real information for real situations. A close friend of mine began to mentor me in aspects of blogging. He has given me incredible insight into how a blog should be developed…how to focus my passion for helping mentor people to becoming successful entrepreneurs. This passion for mentoring others began when I was a young child and continues today. It is not about me, but rather those who have influenced my life. I am a work-out addict and a real “ski dog”. Sorry guys and gals…I do not “ride”. I live for deep powder and steep chutes. I love the feeling of looking over the edge of a steep run…feel my heart beat faster with that adrenaline rush and then “jump in”. I love golf…but I always wonder if I will ever break 100…lol! Most of all, I love my wonderful family…they are the best! Thanks for stopping by and I hope you feel empowered today.