Hiring a Short Sale Agent:

Short sale is not an easy task so be cautious while selecting a short sale agent. Short sale transaction is much complicated and requires a lot of skills and expertise to make it successful.  Selecting a wrong agent may be the worst thing that can happen to you in this process. Don’t hire an agent just looking at the flashy website and well decorated office instead look for a well experienced and skilled short sale agent.

Hire A Short sale AgentAfter, the recession in the real estate industry everyone is looking forward to making some money representing himself as a short sale negotiator. There are a number of short sale companies that want to capitalize providing the short sale training and issuing their certifications. It is not bad to get the knowledge, but having less knowledge and dealing a complicated process is really hazardous. An agent cannot learn all the skills and obtain sufficient knowledge in three hours class. Don’t be a victim of choosing scam short sale agent!

Can your agent help you to select the short sale agent?

Short sale needs a lot of skills and hard work to be closed. Many real estate consultants don’t deal short sale case, but they can refer skilled short sale agents in California. Some of the referrals charge for referring a client, and some of them don’t charge as they save their client while helping them. It is better to investigate about the scenario of commission when you are being referred to some other short sale agent. Don’t hire a short sale agent who pays for referrals.

How much experienced a short sale agent should be?

Experience is not the only indicator that can help making a decision of hiring a short sale agent. An agent may have experience of more than ten years, but the most important is the number of cases that are closed. It is possible that an agent may have only two cases per annum in last ten years. You may choose an agent who has experience of only five years, but has closed 100 short sales.

Questions to be asked before hiring a short sale agent:

Before hiring a short sale negotiator, it is better to ask following questions.

How many years do you have been selling short sales?

You may hire a short sale agent who has experience of at least more than three years. Experience is the thing that does not come in the classroom. Experience is a teacher that no classroom instruction or online short sale seminar can replace. Experience teaches an agent the pitfalls and how to anticipate potential problems and cut them off at the past. It’s even better for you if the agent has experience in real estate apart from short sales.

How many short sales have you closed?

A short sale agent who has closed only 10 short sale cannot compete the agent who has closed 100 or even more than 500 short sales. The short sale agent who has closed a large number of cases can help you better and avoid any kinds of complications. They have the extensive experience of dealing with the banks and know better how to deal with banks. These agents may have developed a proper system and procedure to go through a short sale process.

Is there any red flag for my short sale?

An experienced short sale agent knows the types of things to warn the seller. A short sale agent cannot give legal or tax advice because they are not authorized to do that according to their license and even don’t have sufficient knowledge. They can get the expert suggestion from an attorney if they have such contact to help their clients.

 What has been my bank’s behavior in past with you?

The past behavior is not the guarantee that you will receive the same from your bank, but it is an anticipation. If the majority of short sales have been closed in the past, then there is hope that your short sale process may bring fruit for you.

Who will be negotiating the short sale?

Lawyers are the best at negotiation, but you will need to pay extra if you want them to negotiate for you. If you want your short sale agent to negotiate the process make it sure that he is negotiating or someone is outsourced. Be cautious if your case is being outsourced to third party agents.

How long will take the process to be closed?

This is the most important question to be asked. Some banks are easy to predict, and some are unpredictable. The short sale process may be completed normally in six weeks in the first half of the year, and it may take more than 120 days in the second half. However, a short sale agent who has an extensive experience may guide you in a batter way.

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