Listing a Short Sale

In today's housing market, just doing your normal marketing will bring you in contact with homeowners that will benefit by doing a short sale. The key is to ask yourself, can I handle this long and complicated process. If you are willing and able to:

1. Effectively communicate with the lenders about their requirements for a short sale.
2. Put a professional and COMPLETE short sale package together in accordance with these requirements.
3. Advise the seller as to all their rights and ramifications of a short sale.
4. Negotiate and follow up with the lenders many times over the course of the short sale process. It can easily take 90 days to complete.
5. Meet the BPO agent and convince them to give a low valuation of the property value.
   

Then you can approach a homeowner with a short sale plan and list the property as a short sale.

If you cannot or don't want to handle all these aspects of the process then you should consider referring the homeowner to an investor in exchange for a fee or some other arrangement. If you choose to list the home as a short sale there are many ways to make a short sale work with an agent involved. A lot has to do with how experienced an agent is with short sales.

Done Deal Solutions will work with listed properties. In these cases, we simply request that we be allowed to handle all negotiations with the lender directly. The Realtor will be kept informed of the negotiations as they proceed and the listing Realtor will receive their listing commission.

It's a win-win-win situation. Your client get the use of a professional negotiation company with no fees, you as an agent, can concentrate on marketing, and the banks avoid taking back another property as a REO.