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DOING SHORT SALES |
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the Short Sale section of
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MASTERING SHORT SALES |
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How to Succeed at Short
Sales
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Where can I find clients if I’m interested
in specializing in short sales?
Word of mouth remains the biggest source of new business, experts say, but
you can also promote your services to individuals attending credit
counseling classes (now required prior to filing bankruptcy), to people who
receive state notices of loan defaults, and to home owners named on lists of
ARMs that will be resetting in the next few months. To find buyer clients,
creativity is a plus. For example, Thomson is developing a monthly “Short
Sale Hot Sheet” she e-mails to investors.
Tip: FSBOs
are another good source since many upside-down sellers think they can’t
afford to pay a commission and so try to sell on their own. Many don’t
realize that in a short sale, the lender pays the broker’s commissions, says
Churchill.
Are short sales for me?
With many more adjustable rate mortgages ready to reset to higher loan
amounts in the next couple of years, short sales represent a growing sector
of the market. However, because sales are time consuming, they aren’t for
everyone. "I always say that if you’re going to succeed in short sales, you
need the 3 Ps — patience, persistence, and problem solving,"
says Cacioppo.
Published June 2006, REALTOR®
Magazine Online
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Did You Know...
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Also....
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USA
National Title...
Click
here to find out about how USA National
Title
can work for your business. |
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Referral
Network.
Advertise your business
on EricLinder.com. Click
here to view the
Referral Network. |
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