12 Questions to Ask When Choosing a Short Sale Specialist

Posted by Wendy G Brown on Jul 11, 2016 in Real Estate

Make sure you choose a Short Sale Specialist who will provide top-notch service and meet your unique needs.

  1. How long have you been in the residential short sales? Is it your full-time job? While experience is a guarantee of skill, real estate — like many other professions — is mostly learned on the job.
  2. What designations do you hold? Designations such as SFR, CDPE, CSP, HAFA Specialist, CFPC, and others — which require that agents take additional, specialized real estate training. The more designations the specialist holds the more likely your short sale will go through.
  3. How many homes did you Short sale and your real estate brokerage short sale last year? By asking this question, you’ll get a good idea of how much experience the practitioner has.
  4. How many lender did you work with to Short sale homes last year? By asking this question, you’ll get a good idea of how much experience the specialist has. An experienced short sale specialist who has worked with multiple lenders like Bank of America, Chase, Citi, GMAC, Wells Fargo, Aurora Bank, Suntrust, NationsStar, MetLife, ASC, BSI Financial Services, Homeward Residential Mortgage knows which forms, verbiage, and systems these lenders use. The more experienced and proficient your specialist is, the less time it will take and the less paperwork the specialist needs from you once the short sale has started.
  5. How many days did it take you to short sale the average home? How did that compare to the overall market? The short sale specialist you interview should have these facts on hand, and be able to present market statistics from the local MLS to provide a comparison.
  6. How close to the initial asking prices of the homes you sold were the final sale prices? This is one indication of how skilled the Short Sale Specialist is at pricing homes and marketing to suitable buyers. Of course, other factors also may be at play, test your specialist knowledge. Do your homework.
  7. What types of specific marketing systems and approaches will you use to sell my home? You don’t want someone who’s going to put a For Sale sign in the yard and hope for the best. Look for someone who has aggressive and innovative approaches, and knows how to market your property competitively on the Internet. Buyers today want information fast, so it’s important that your short sale specialist is responsive.
  8. Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie. Your Short Sale Specialist should explain his or her agency relationship to you and describe the rights of each party.
  9. Can you recommend service providers who can help me obtain a rent, make home repairs, and help with other things I need done? Because your Short Sale Specialist is immersed in the industry, they’re wonderful resources as you seek rental homes, home improvement companies, and other home service providers. Practitioners should generally recommend more than one provider and let you know if they have any special relationship with or receive compensation from any of the providers.
  10. What type of support and supervision does your brokerage office provide to you? Having resources such as in-house support staff, access to a real estate attorney and assistance with technology can help an agent sell your home.
  11. What’s your business philosophy? While there’s no right answer to this question, the response will help you assess what’s important to the agent and determine how closely the agent’s goals and business emphasis mesh with your own.
  12. How will you keep me informed about the progress of my transaction? How frequently? Again, this is not a question with a correct answer, but it reflects your desires. Do you want updates twice a week or do you not want to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, or a personal visit? Request a guarantee in writing on how they will communicate with you. It’s important that your Short Sale Specialist meets these request.
  13. Could you please give me the names and phone numbers of your three most recent clients? Do your homework. Many agents who have not closed short sales won’t have proof to show their success. Google and ask recent clients if they would work with this short sale specialist again. The information on what has sold is public record. Find out whether they were pleased with the communication style, follow-up, and work ethic. 

    As a real estate professional who has earned several nationally known certifications, including the Certified Distressed Property Expert (CDPE) designation, Certified HAFA Specialist, Short Sale & Foreclosure Resource Specialist (SFR), Certified Foreclosure Prevention Specialist, and a Certified Short Sale Specialists, I have been professional trained to assist you. My mission is to provide homeowners with options to prevent foreclosure, ensure that they steer clear of scams, and help navigate them through the solution that best meets their needs.

    Among the most important facts to keep in mind: the sooner help is sought, the better the options. Ask an Expert.

    These are tough times, but more help is available than ever before. If you or someone you care about is ready to navigate away from the dark cloud of an unmanageable mortgage and realize that hope and blue skies are within reach, contact me today and let’s get started.

    Call me and let’s talk. Wendy G Brown 770.298.4437, email me wendy@shortsalewendy.net, or visit http://www.shortsalewendy.net