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If you've never done a short sale before - or even if you've done several and are burnt out with the frustration and excessive time demands on your business, then this could be a good option for you. I Am a Short Sale Specialist I have been doing them almost exclusively for the past three years. Last year I participated in over 25 short sales and with the spike in foreclosure activity, it looks like this year could really explode. I have systems in place which I am continually tweaking and refining to help me be more efficient and effective. A Lot of Short Sales Really Suck More and more agents are attempting to do short sales and not very many are doing them well. This just makes it harder on everyone. Buyer's agents are avoiding short sale listings because it can be like dropping a PA down a black hole with little or no control over the outcome. Who wants to risk frustrating their buyer and jeopardizing a commission when there are good deals around every corner? And Then, It Get's Worse Bleary-eyed, late-night-TV-make-a-fortune-in-short-sales-overnight entrepreneurs are bombarding distressed homeowners with outrageous offers, adding great confusion and amazing levels of incompetence to the mix. You've got to see some of these mailers - really! So What's a Mother to Do? We're the industry professionals. The market and our valued clients are demanding that we do what we can in the face of the recent foreclosure crisis. None of us like turning down business, but who wants to walk into a tangled mess with a low probability of success? Let me be clear. Short sales are more work for less money. Period. However, there are three compelling reasons to do them - 1.) In a slow market it's nice to have a listing or two that can compete with the bargains. 2.) Some business is better than no business, and 3.) There are homeowners who sincerely need our help and who's gratitude, loyalty and future referrals are what we are in business for. Divide and Conquer My goal is to divide the responsibilities in a way that will simplify the complication and minimize the frustration. You can't eliminate either one, but we can be far more effective if we are operating in our comfort zone and utilizing our respective areas of competence. Here's how it works: You take the listing handle the client do the marketing manage the offers and sale We don't co-list. The seller is primarily your client and in most respects it will look and feel like a normal listing to you. Me, Yo, Moi, I interview the seller gather documentation make the necessary submissions make sure CYA paperwork is in place manage the lender communications do the negotiation keep you updated on progress It's not the fun part, but I can do it well and it's how I can bring the most value to the project. Working together, we can take on more clients with less stress and more success. Conventional Sales: Location, Location, Location Short Sales: Filter, Filter, Filter I can help you turn down business. You can't help everyone. Saying no to unproductive business is one of the smartest things you can do in a slow market. There are a number of things to consider before taking on a short sale such as how far along the client is in the foreclosure process, their financial condition, their willingness to cooperate, who their lender is and what other encumbrances there might be on the property, the condition of the property and the local market activity. It's more judgment than science, but I can lend my experience to try to avoid the probable time wasters and help you concentrate on the most likely prospects. Investors If you work with investors who are looking for bargains in the foreclosure market, a short sale can be an attractive option. Essentially, we can try to pair the investor with a property that meets their criteria and do a buy/sell market analysis to determine an optimum offer. These offers are tougher to negotiate because they generally involve deeper discounts, but I have developed specific techniques for working with them that will help maximize their chances. A big plus is that investors are generally in a position to wait longer and will hold on to their offer as long as they have the prospect of buying the property right. Sus Clientes Solo Hablan Espanol Siempre y cuando usted sea un Agente de bienes raices y hable espanol, no hay problema. Mi espanol no es lo suficientemente fuerte para hacer transacciones de negocio de este tipo, pero con usted como interprete lo podremos llevar a cabo. Yo he creado estrategias especificas para clientes que tengan documentacion financiera irregular o ninguna, como por ejemplo: el no llenado de impuestos, trabajos donde el pago es en efectivo, etc. Yo he trabajado muy de cerca con varios agents Hispanos y juntos hemos tenido mucho exito. Cut to the Cha$e So who gets what? My approach to the commission is simple - we split it. On the listing side we do 50/50. If one of us also brings the buyer, we do 2/3 - 1/3 of the total. We are as clear as possible about who does what, and we put everything in writing in a format approved by our broker. That being said, there's no substitute for a meeting of the minds and a determination to help each other for the benefit of the clients. If they win - we win. Referrals There are occasions when I will take a straight referral and pay out a fee. If that is your preferrence, contact me and let's discuss the situation. I will need some fairly specific information from you or the prospective client before I will know if it is something I will be able to take on. How Much Is Too Much? I've worked in a team environment with professional negotiators and I know that even with good systems and the best of intentions there's a limit to how much you can handle. For myself, I can't really attach a number to it, but if I reach a point where things are slipping or I feel I'm not being effective please understand if I don't take on any more projects for a while. Each of our clients has their home hanging in the balance and they deserve our very best effort. Contact Here is my contact information. It's probably best to shoot me an email first with your name and phone number and a brief message. It's the nature of the beast that I'm really tied up on the phone and have to pick my opportunities to return calls. Be assured that we will connect and I'll be happy to try to answer any questions you might have. Les Joos Les@AZForeclosureHelp.com Direct: 480-380-2804 Cell: 480-414-9609 |