How real estate agents benefit from short sales

Some real estate agents rely heavily on short sales in their list of buyers, sellers and commission checks. Some lenders who are trying to get rid of properties on the verge of foreclosure will pay up to six percent commission to a real estate agent that can find a buyer for a short sale. These lenders want to stay out of major debt and are willing to sell the home for a lower price so it will not affect how much money they can lend out. Real estate agents that understand short sale services find them to be beneficial and worth the extra time to process. If not, there are also short sale processing companies.

If you are a real estate agent, first check in with your broker to make sure the company allows the sale of short sale homes. It might also be wise to see if any other colleagues have had any experience with short sales with that lender. If very few real estate agents are familiar with short sales, you might be the first one to practice this technique and will be able to educate other agents and capitalize on the new market. If not, they can look for short sale negotiators.

In order for short sales to work well, make sure you understand the process completely; you can fully back the numbers that justify the selling amount; be able to write a sales contract for transactions; be able to negotiate agreements and totals with the lender; be able to show the property to buyers in a professional manner; and be flexible with agreements, providing referrals and recommendations when needed.

As long as you can properly perform these characteristics and business tactics, you should be able to focus much of your attention on the selling and marketing of short sales. Even with a slow real estate market, you’ll still be able to succeed.