Short-sales are the next wave of properties to hit the market. Look for a big increase in short sale listings in the next few months. Better educated agents understand how to properly and effective service the sellers and better communicate with the banks. Plus, great support services like Short Sale Pro (www.shortsalepro.biz) are providing administrative and informational support to agents who don't have much experience on the listing end of short sales. This is lowering the fear level and allowing agents to embrace rather than avoid these listings.
I personally feel very strongly that it is incumbent upon agents to support property owners who are facing financial difficulties and trouble maintaining their mortgage payments by being a great resource for information and services. The real estate community greatly benefited from the highly lucrative sales market of the early-mid part of the decade and needs to step up to the plate and accept these requests for help. Agents should not only understand the options that exist to foreclosure, such as loan mitigation and short sales, but also provide lists of resources such as non-profit support and counseling organizations (e.g., ACORN), CPA's, attorneys, and other professionals whose expertise is needed by most homeowners before they choose their course of action.
Coming from this perspective of service, expertise and support, agents will continue to earn the privilege of serving struggling clients while earning a living doing so. What a great combination!
I personally feel very strongly that it is incumbent upon agents to support property owners who are facing financial difficulties and trouble maintaining their mortgage payments by being a great resource for information and services. The real estate community greatly benefited from the highly lucrative sales market of the early-mid part of the decade and needs to step up to the plate and accept these requests for help. Agents should not only understand the options that exist to foreclosure, such as loan mitigation and short sales, but also provide lists of resources such as non-profit support and counseling organizations (e.g., ACORN), CPA's, attorneys, and other professionals whose expertise is needed by most homeowners before they choose their course of action.
Coming from this perspective of service, expertise and support, agents will continue to earn the privilege of serving struggling clients while earning a living doing so. What a great combination!
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