How to Get Short Sale Listings

Published: 14th November 2007
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As a licensed and professional real estate agent, your main aim is to ensure a healthy listing of buyers and sellers. Short sale listings can be a major part of that process and a good source of income. Mortgage lenders who hold titles to properties which are on the verge of foreclosure often agree to pay up as much as a 6% commission to a real estate agent able to get rid of the property through a short sale. In short, there is quite a large market for the agent who understands the short sale process and can handle the tasks involved, to help the investor recoup some of the loss.

As an agent, you should communicate and clear things with your broker. Do this before you make any attempt to follow up and list a short sale property, as a beginner. Ensure that you are performing according to all your company and office-guidelines. Do not contravene or endanger any terms of your license agreement. It would be wise to figure out if any other agents working in the same outfit have had any recent successes in the field of listing short sale properties. Keep in mind that a good number of brokers are quite unfamiliar with the processes involved in a short sale.

There are several steps that have to be completed in the process of a short sale to work well:

You have to be able to convince short sale investors that you can handle all the things that are necessary.
You have to be able to pull accurate compensations that will justify the total selling amount of the short sale.
You should be able to write a sales contract and fill out a net sheet for the transactions.
You have to be able to negotiate terms with regard to any sort of an agreement with the lender.
You may even have to show the property to all prospective buyers and market the property properly.
You must be able to add flexibility to the usual terms of a listing agreement, providing referrals and recommendations, where needed, of valid service providers.

Follow these steps, and you will find a new area of sales that you never knew of before. Your Real Estate Business can thrive in a market that seems like it's on a plateau as long as you follow the proper lead generation and follow up steps.
Real Estate, Business and Life Coach Cheri Alguire has partnered with hundreds of Real Estate Professionals and Small Business Owners to help them become more successful in business and in life. Coach Cheri specializes in Group Coaching for Small Business Owners, Working Mothers, Real Estate Agents and Managers. Learn more at http://www.prorealestatecoach.com/ and http://www.realestatebusinessresources.com/

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