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How do we get the banks and asset managers to notice us?

This was a question asked on the CDPE forum site from this morning. It was part of a forum post wanting to know if the Short Sale lenders prefer the CDPE designation over the NAR SFR designation.

Here’s a clue: The lender doesn’t give a squat about your designations! Nor should they.

So.....how DO we get the banks and asset mangers to notice us?

Here are a 10 tips that will help.

1. Submit complete and organized short sale packages with contracts that make sense.

2. Fully understand the Short Sale process and treat the negotiators with respect.

3. Only escalate when all other avenues have been exhausted.

4. If you are a blogger, or spend time on Facebook or Twitter, be sure to write POSITIVE stuff about short sales. Lenders do “Google” agents. If you are constantly writing about negative short sale experiences they will notice you...just in a bad way.

5. Be a “step above”. Help the negotiator have a good experience working with you. If you do have to escalate don’t bash the negotiator. Make them look good in the eyes of their superiors.

6. Be a problem solver not a problem creator.

7. Be able to support your stance with facts and in writing.

8. Work WITH the lenders to get the short sale approved.

9. Build a reputation as one who gets deals closed.

10. Never stop learning and being open for new ways to handle short sales. Know the difference between a regulation or law and a rule or company policy. And know why this matters.

Remember, contrary to popular belief, Lenders prefer doing a short sale over foreclosing. Our job is to make sure we are giving them what they need to make the decision we want them to make for the advantage of our sellers.

If you do these things often enough you WILL get noticed by the banks and asset managers. And when they start dishing out short sale listing this year you will be in a better position to get you some of that business. I know I will.

Do you need Advanced Short Sale Training?

One of the things that I think a lot of people have trouble with is of course procrastination.  They will clean out the garage tomorrow, they will do their taxes this week, they will list their home for sale sometime soon…
 

We have all done it and it happens to those that want to “eventually” sell their home.
 

What if you could list your home today and have an offer on it tomorrow?  Would that speed the prep and action up at all?  I would like to think that yes it would or at least it should.
 

So how does one go about selling a home in 24 hours?
 

In the real estate industry there is some prep work to be done in order to achieve these results.  Before you list your home with a Realtor you need to find the “RIGHT” Realtor for the job.  You want a Realtor that is able to come and talk with you and listen to your goals.  You want someone who is able to get the paperwork done fast, get pictures taken, get the marketing strategy in place all within a very short period of time.  Then you want a Realtor that can give you an aggressive sales price that will definitely make some waves and draw attention to your property.
 

Once the property is listed the marketing strategy is enacted.  This includes a website page, ad sites, social networking, an email bulletin, a press release, outside flyers, ect…Getting this all into the hands of hungry buyers is key.
 

When done correctly the aggressive pricing of the home along with the prep work and a quick marketing strategy can in a lot of cases lead to heavy buzz on a home and in turn lead to a quick offer.
 

So if you have been saying that you will “eventually” sell your home, then give me a call.  Lets see how fast we can get a SOLD sign in your yard…
 

Tim Brown
Owner/Broker, Realtor®, ABR,CRS,CDPE®
Auctioneer NCAL#8560
Hines & Associates Realty
TeamHeidi
Direct Line: 704-619-1008
Client Care Line: 704-815-3208
www.CarolinaHomes4Sale.com

It's the beginning of the year so time for the round-up of last year's distressed property sales in Sunnyvale. So here's what happened:

Single family and condo townhomes :

Total sales:  835

Short Sales: 111

REO:            73

Distressed sales as a percentage of total sales: 22%

Compare to 2010

Total sales:   849

Short Sales:   106

REO:            89

Distressed sales as a percentage of total sales:  23%

My conclusion:

The percentage of distressed properties in Sunnyvale is virtually the same in Sunnyvale between 2011 and 2010. This percentage is starting to have an effect on prices, east of El Camino. However in the 94087 zip code there were 11 short sales and 3 REOs in 2011 compared with 4 short sales and 2 REOs in 2010 out of 295 sales in 2011 and 307 sales in 2010. While short sales almost trippled in 2011 the percentages are still very low compared to the other zip codes in Sunnyvale. 

If you have any questions about short sales or bank owned homes please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E.  01191194

Over a year ago I had buyers interested in a short sale listed with another agent.  We submitted a strong cash offer to the listing agent and received an executed copy of the contract back.  Then we waited and waited and waited some more.  When we couldn't even get the listing agent to return phone calls the buyers decided to cancel the offer and purchase another property.

Fast forward to November 2011...I receive an email from the seller of the home my buyers canceled the purchase contract on.  I was informed that our offer was never even sent to the lender and now the previous listing agreement had expired.  The sellers wanted to know if my buyers were still interested which they weren't as they already purchased another home.  The seller then wanted to know if I would be interested in listing the home as a short sale.  He had kept the original offer I had submitted, researched me online and tracked me down thru the internet.

Here we are in early January and we just got approval along with the sellers debt forgiven in writing.  I am not sure why the original listing agent didn't submit the original offer I sent to the lender but I am happy the seller decided to contact me.  I was able to successfully get the short sale approved and the seller is extremely relieved.

It's the end of the year so time for the round-up of distressed property sales in Mountain View. So here's what happened:

Single family and condo townhomes :

Total sales:  563

Short Sales: 62

REO:           34

Distressed sales as a percentage of total sales: 17%

Compare to 2010

Total sales:   572

Short Sales:   50

REO:            34

Distressed sales as a percentage of total sales:  15.5%

My conclusion:

The percentage of distressed properties in Mountain View is a higher in 2011, 17% as compared to 2010, 15.5% but the majority of these distressed properties are in the lower price range of Mountain View sales so are being purchased by investors and first time home buyers. West of El Camino is not seeing much distressed property activity.

If you have any questions about short sales or bank owned homes please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E.  01191194

I am working an offer that has been submitted to Cenlar (primary mortgage). This is a short sale offer, however a good offer for the home value. Cenlar is using Bayview financial for the transaction - and the ultimate investor is unknown.

The seller is CURRENT on their payments however it seems being forced into stopping payments to try and get some movement on this SS.

We have been trying to get Bayviews answer for months but I can't get a yes or no out of them so thought I would post a few questions here in case anyone has experience with these lenders...

1 - has anyone had experience with a seller that is current on their mortgage trying to get a SS approved from Bayview?

2 - any advise to get some movement from them?

The seller is hoping to not miss payments but with it taking so long they might be forced to.

The buyer is also growing antsy.

Thank you.

My client does not want to stop making her payments (strategic SS) I believe.

Has anybody out there completed a similar situation with BoA

HUD sayes if a person pays their payment up to the close of the SS they may purchase another property right away. Any banks working theses loans,

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It's the end of the year so time for the round-up of distressed property sales in Redwood City. So here's what happened:

Single family and condo townhomes 2011:

Total sales:  553

Short Sales: 91

REO:           49

Distressed sales as a percentage of total sales: 25.3

Compare to 2010

Total sales:   600

Short Sales:   93

REO:            78

Distressed sales as a percentage of total sales:  28.5

My conclusion:

The percentage of distressed properties in Redwood City is a little lower in 2011, 25.3% as compared to 2010, 28,5%. This is dues to a 40% decrease in REO sales in 2011. It will be interesting to see if the rumored release of REO inventory actually happens, and increases the percentage in 2012, or if the econmy picks up and helps people afford their homes.

If you have any questions about short sales or bank owned homes please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E.  01191194