I have never done a short sale (buyer or seller side) and have thought about starting to take on some short sale listings. So, I took a pretty involved short sale training class/certification (Certified Depressed Property Expert). After taking that I don't think I want to do short sales: too long to close, too involved, too unsure (you receive an offer and it takes a looong time to find out if the bank will accept it).
So whats everyone's opinion of short sales? Do you do short sale listings? why/why not? Or, do you refer them out to other people? If you refer them out what is your referral fee?
Thanks for your responses.
I do short sales as part of my business.
I usually end up with both sides of the transaction so it's worth it. I also charge a fee for preceding the short sale $950.
If my investor buys a short sale fixer upper then I can list it again.
Yes it's a lot of work but it's only part if my business. Find a short sale negotiator to hire. Mine collects her own fee from the back. Full commissions only 6%.
I love short sales I'm a CD PE expert also I got my certification for short sales and they are not as hard as people make them to be you just need to create your system I use a lot of computer base for my forms and I email them to my clients and have those filled out by the time I get there I have them have all the documents that I need from them ready when I get there to their house and you usually get both sides of the check for closing, not hard to do. Yes time consuming but not hard. You can create yourself as the short sale expert in your area and other agents will referrer short sales to you because they don't understand them it's not complicated.
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