Most experts predict the real estate market will remain depressed and/or in transition for several months. If real estate agents representing those homeowners who are facing foreclosure knew more about short sales and where to turn for expert help, those numbers would change dramatically, said Sawyer.
“The average agent can help someone sell their home, but isn’t necessarily qualified to negotiate with a lender on a short sale,” said Sawyer. “And because lenders don’t always portray a short sale as an option, home buyers aren’t aware of the possibility and agents aren’t informed about the advantages of working with a company that has experience and expertise to help them navigate this niche market. We are seeing more and more situations where homeowners who are in trouble with their home think that foreclosure is all they can do to get out from under. They think that once they have missed enough payments, they have no choice but to allow the bank to foreclose on their home, and so they walk away defeated. It is so important to educate homeowners about short sales. Being able to take my years of experience and help someone is a gift to them, and to me.”
Added Tal: “When it comes right down to it, the lender doesn’t want to take a property back; they want to be paid. They are not in the real estate business. We meet regularly with loss mitigation departments of the largest lenders and see how motivated they are to find a quick solution. This market is obviously tough for many people and for many reasons, but for someone looking for the path of least resistance out of their home, the short sale is the answer. If they end up in foreclosure, it has to be because their agent either wasn’t familiar with the short sale process or didn’t know they could utilize I Short Sale as their resource. Once those agents become aware of the advantages of partnering with us, they are excited to take their business in a new direction.”
By all accounts, that direction is up.
“Smart, ambitious agents are looking at what they can do to transform their business, and they should have a good, long time to excel in short sales when they work with us,” said Cavarra, whose investment banking background gives him a unique insight into the real estate and financial industries. “I think the market is going to get worse over the next 18 months to two years. We are just starting to get everything to the surface, with subprime lenders being bought out and other lending institutions taking big hits. In the last two weeks, there has been an article in the paper every day hinting at a recession. The hard truth is that anyone who wants to remain successful in this business has to know how to change with the times, or they will get passed by.”
I Short Sale’s success is certainly evidence of that. They have paved their way in a market that most professionals and homeowners are afraid of today, and created opportunities for homeowners to salvage their credit and their sanity, and real estate agents to excel.
(Source: Broker Agent Magazine)
(Source: Broker
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