What is the KEY factor for a good Short Sale Agent?

A short sale is hardly a new topic these days (Homeowners are doing their research and frequently choosing the short sale route. For the majority, it is in their best interest.) However, there are awful stories of how short sales takes too long and fail by either leaving the homeowner in foreclosure or putting them in a worse position than pre closing the short sale.

I would agree. Your short sale will not work well unless you consider these key factors when choosing a short sale agent. Your most important task as a homeowner is finding a qualified short sale expert in your area.

Please read our previous post: How to find the Best Short sale agent in your area.

One key factor is, ORGANIZATION.

Our team of negotiators are continually working on a high volume of files and closing them at a stellar success rate. How are they able to accomplish this? Technology. It is vital that your agents are using the latest and best technology to streamline their short sales. Many of the problems with agents in the post above are due to the lack of using Short sale technology.

The benefits of utilizing technology for Short sales are a never ending list. Here are some features of the #1 technology for Short sales my team of agents actively use.

• Offers – keeps track of all offers submitted on your listing.
• Streamlined communication – Full email capability that keeps lenders, buyer’s agents, seller’s agents, and homeowner’s on the same page.
• Short sale forms – A comprehensive library of forms required by each lender which includes disclosures required to be signed up front from the seller.
• Activity log –Important: Allows all parties to see the activity of the short sale on your home.
• Document management – secured access to required documents for agents and lenders.

Without the use of technology, a short sale is very difficult to complete. Bank of America, along with several other lenders, understood this need thus utilized Equator to remedy these difficulties. The difference this online platform made is phenomenal and most agents would agree that it has been extremely helpful in their success with short sales.

In this day in age, you cannot survive without the use of technology, especially if you are dealing with the complicated process of a short sale. I cannot emphasize these points enough as I see homeowners who are put in worse positions than pre-attempting a short sale because of their agents. I wish I could help homeowners all across the nation. However, the new DFI laws state-by-state allow our services to only be available in Washington at this time. Be critical of those you work with and always hold a high standard.

Hope this helps

SSSB