Short Sale Agent’s challenges in Selling homes Short.
A short sale is where a home owner is selling the home but the home value does not cover the mortgage. A skilled agent can work with the bank to reduce or eliminate the excess amount to allow the closing.
According to a survey of short sale professionals. Here are the challenges of actually closing a short sale.
Agent’s Key Challenges with Distressed Properties
| Challenge | % |
1 | Banks operate differently than most sellers | 57 |
2 | Longer Time Lines | 56 |
3 | Helping buyer be patient | 54 |
4 | Working with unresponsive agent | 42 |
5 | Increased paperwork | 40 |
6 | Increased chances for multiple offers | 35 |
7 | How to Navigate banks’ chain of command | 35 |
8 | Being Patient | 33 |
9 | Help buyer see they are not a steal | 21 |
Source KW Market Navigator 2011 from various research
An experienced agent has the experience and the tools to navigate these difficulties.
The national agerage success rate for closing a short sale is very poor, at around 30%. Top agents are achieving in excess of 80%. It is RealEstateGuy Teams to close every one, we close 80%+, (Just about 100% when the buyer stays in.)
It will help you decide if you are really a home seller.
RealEstateGuy has been a full time, full service Realtor since 1993. He is dedicated to helping people achieve their Real Estate Goals and dreams. In order to provide more specialized service, he created a team of hand picked specialists. Guy believes in constantly learning more, so regularly attends national seminars and trainings. Guy has been a top producer, leader in his office, a president of the Wisconsin chapter of CRS, and has spoken at the State Realtor Conventions.
