Sellers

Selecting the agent to represent you on a short sale is very important.  It requires more work on the part of the agent than does the average home sale.  They will need to negotiate with your bank and be very proactive as time is very much against you.

Interview your potential agents and here are some questions you should ask when you do so.

Have You Ever Represented a Short Sale Before?

This question is number one because it’s most important.  Short sales are very different than the average home sale and many agents aren’t cut out for it.  It’s important to know if they have ever represented a short sale and more importantly; have they ever done so successfully?

Having your house sold quickly can make all the difference in the world on your credit score which can affect your life for many years to come.  Now is not the time to give someone a first chance. Let them learn about short sales on other people’s time with other people’s future hanging in the balance.

How long have you been in Real Estate?

There’s no substitute for experience in real estate. Every transaction is different and you want a seasoned agent who has been tried, tested, and thrown every curveball in the game.  You don’t have time for surprises or an agent trying to learn new things on the go.  Go with experience and let someone else give the younglings a first chance.

What Will You Do To Sell My House Fast?

You want a clear, concise answer.  Someone who has “been there and done that” will know what works and be very confident about it.  Confidence is good.

You want advertising, open houses, a large network of buyers that agent can “shop” your house to.

Are you Full Time?

A part time agent is part time for a reason.  They can’t pay the bills.  This means they just aren’t a good enough agent for you to put your future in their hands at this crucial time.

Are you an Investor?

As I’ve mentioned before, investors are probably going to be your best chance at selling your house fast as a short sale.  Find investors and have your agent find investors.  It’s important they have a large network of local investors they can contact immediately to buy your house.

It is also important that your agent, himself is not an investor.  I believe this to be a violation of interests in agency.  A potential buyer should not be representing the sale of your house.  I have run into agents before that appear to represent a seller for a short sale, but who have the ulterior motive of buying your house at the lowest possible price, even if this means sabotaging the short sale to the point that it forecloses or nearly forecloses.

An agent should represent you and above all else have your best interests at heart.

If you are considering a short sale, we would love to help.  We are buyers, not agents, and may want to buy your house.  Click here to give us some info about your situation and see if we can help.

Discussion

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