Hmmm. The age-old question for a realtor. Should you or should you not attempt the short sale for your client prospect?
Well, if you attempted one or many before…or even if you have never attempted one, you know that they are NOT easy. They require a lot of extra work for you. If you stall out your time with a few short sales, is that the right thing for you or your clients. Is your time being spent wisely? It is always a tough question.
It has been my experience that the only way to make the task of processing short sales worth the effort is by creating a system to process them in volume. I found it made no sense to do them onesy-twosy. I have heard from both our Realtor and investor colleagues that most of them agree.
Just today, two Realtors in our investor club opined that they had stopped even pursuing short sales at all, they simply pass on the lead completely. I think that is probably half-wise on their part. Wise that they see no value in attempting the onesy-twosy short sale, but NOT so wise that they completely pass on them and leave their client with no solution where a solution may exist.
This is where third party short sale processors can help them. They become a solution that removes all that pain and hassle from the Realtor while at the same time offering that Realtor most of their commissions and still providing their client prospects with a solution. So everyone can win and clients aren’t left facing a foreclosure and the Realtor is not passing up income for his/her business and family.
I applaud the Realtors and investors that have built systems and have the staff needed to manage and achieve successful short sales. I have been there and done that, so I know what that journey is all about. However, if you have not traveled it, or do not see any wise reason to do so, I hope these comments will help you see another solution that will put money in your pocket — hire it out.
Bye for now.
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