Short Sale Tip of The Week 4-22-09

Posted on 22. Apr, 2009 by ctlms in Short Sale, foreclosure

Real Estate Agents Must Embrace Short Sales or Face Extinction!

Let’s face it.  Homeowners today are faced with many different financial and personal issues; from interest rates being reset, to property tax hikes, to job losses.  These issues and many more, are forcing many homeowners to have to sell their homes. Which means that a vast majority of these properties will require a short sale or reduction in debt in order to get their properties sold!  And so in order for many of today’s real estate agents to stay in business, they must embrace short sales, or else look for another line of work.

In 2009, it is estimated that roughly 56% of all listings will require a short sale.  The fact of the matter is there will be no way around this.  And so for all of you real estate agents, you must understand that the majority of your listings will likely be over debted properties.  With the fact that there are not enough listings (with equity) for every real estate agent to pick and choose from, short sales are a must in today’s market!

The good thing about short sales is that just because you have to wait for the lender to approve an offer, doesn’t mean you won’t get paid.  Lenders understand that sellers can’t afford to pay closing costs (hence the reason they’re in default in the first place!), and so lenders pay the sellers’ closing costs for them, which typically includes real estate commissions, attorney or title company fees, conveyance taxes, delinquent property taxes, and all other common closing costs.

But everything else aside, it is essential that all real estate agents out there embrace short sales as a necessity to your business, or else you won’t have much business!  As challenging as they may be, they will make up the bulk of your listings, and in turn…the bulk of your income.  The current market conditions we cannot change.  However it doesn’t mean that there isn’t any money to be made by real estate agents, they just have to know where to look.

One question to ponder, for those of you that are still resisting doing or even learning about short sales…would you rather stay in the real estate industry or get a job? In my opinion the choice is easy; learn how to handle short sales! How to call, and where to turn.  Trust me when I say you will learn things you never knew existed and you will end up beating this down market and end up on top!

Give us a chance to prove to you how easy and profitable they can be for you.

Have an awesome day and look out for future tips from us.


Sean Wilder
Loss Mit Services

PS check out our online short sale processing system at that keeps you up to date instantly, whenever there is a change to your short sale file.

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