Short Sales - Negotiators
| | Tuesday, April 21, 2009 @ 10:43 AM EDT
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Contributed by: Kim Tucker
Kim Tucker Properties
Read more archived articles about Foreclosures
Here in our office, we all have experience in working short sales. But when we get a lead on a house that needs to be negotiated, we refer them to a short sale expert to do the negotiations.We have seen that the people who specialize in short sales only are much more successful in negotiating a short sale than the rest of us who only do one or two a month.
Here in our office, we all have experience in working
short sales. But when we get a lead on a house that needs to be
negotiated, we refer them to a short sale expert to do the negotiations.
We have seen that the people who specialize in short sales
only are much more successful in negotiating a short sale than the rest of us who only do one or two a month.
We have all seen speakers who are teaching how to negotiate our own short sales, but finally we have a speaker who is talking about referring the short sales to a person who specializes in only negotiating the sale. More of an expert in one field. This negotiated just negotiates, does not do marketing for buyers or sellers or what ever either as a realtor or as an investor. He just does the negotiating.
And because that is all he does, the bank contacts on the
other end of the phone are more likely to respond and work with him because they
have done deals with him in the past or if not he has a track record of getting
houses shorted, knows the lingo, and is up on the current market trends.
There’s
a lot of talk out there about short sales and not all of its good. Much of what
people are saying has to do with the bank not cooperating, or not willing to
take low-ball offers, or making stupid requirements that you must keep the
property for 60 days.
The
bank gets a BPO back and you think they must be on crack or something, because
it would never sell in this market for that amount. Or just because there’s
nothing wrong with the property they put the value way high! How does one
properly influence a BPO anyway?
Or here’s one; some banks are now getting stricter about who can get paid off the
HUD, you list your cut as commission, and you’re likely to get cheated out of
your piece.
I could go on here, but there’s just no time.
Here’s
the deal:
If you’re really smoking this business of short sales you may be doing a couple
short sales a month. Many aren’t even doing 1 per month though. There
are people though who are negotiating dozens of short sales per month, and
getting offers accepted at crazy low prices. They’re called Professional Short
Sale Negotiators. That’s what they do for a living. Deal with banks.
They’re able to do dozens per month because that’s all they’re doing, 8 hours a day,
5 days a week. Most of us don’t have that luxury or would even want work the
phones that hard.
Anyway, after thousands of successful short sale approvals at ridiculously low prices,
these pros have learned a thing or two, and for almost nothing, you can hire
them to negotiate your deals too.
(I say almost nothing because they’re getting their cut from the bank and not
you, which is great for us.)
Even if you never hired them to do your negotiations, we’ll be answering some
questions people send in so they’ll be plenty to learn as well.
Note: And if you are local to the KC area and want to attend the local REIA' meeting this month discussing Self Directed IRA's, please visit our web site at http://www.MAREInet.com and another presentation at the other group a few days latter on funding at http://www.kcig.org
Reprinted from Kim Tucker's Blog at http://www.TuckerOneProperties.com
(part of a series of posts)
Word Cloud:
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