Just got out of a six clock hour class on selling and listing bank owned and short sales. First thoughts are:
1. Why are agents so nervous to list and sell short sales?
2. How can I change my business model to accomadate for the influx of these distressed homeowners?
I believe, now more than ever, explaining the buying process of these distressed homes to buyers is the key to eliminating the negative energy that spreads with the idea of short sales and REO properties. By gathering the necessary information at the beginning, remember preparation breads success, these can be closed in a timely manner.
This discussion and a summary of the seminar will be properly documented tomorrow.
OTHER THOUGHTS
Consumer spending increased in February thus showing signs of a healthier economy. We will see what news comes about with the WAMU debacle and how that will effect consumer views. Rates still are below 5% on a 30 year fixed conventional loan and right at 5% on an FHA loans.
Subscribe to:
Post Comments (Atom)
King County Inventory July 2009
Inventory King County
Pierce County Inventory
Inventory Levels July 2009
The main reason that sales training or any corporate educational training and development fails to deliver ongoing results is that ignores the best way to secure long term cognitive retention. If you want effective sales training, you need to avoid the one day, two day or three day sales seminars or workshops.
ReplyDeleteHi Tyler. I have found that short sales can be timely closed if the contact agent has the energy to stay tuned in to the transaction every day, each and every day. My experiences have shown me that bank employees on the other end of the transaction are as busy as the rest of us and often go on vacation, miss days from work for other reason, transfer files, and delays can be inevitable unless you have the energy and personality to work the file every day and follow up with the bank employee/negotiator every few days or as needed. This can become frustrating but you should hold them accountable for what they say they will do and always in a nice manner but not so nice they think you are a pushover, you know. Nothing will get done unnless you ask and follow up. You will phone them more than they call you. You'll memorize Chase 800 # in San Diego or Wells Fargo in Texas! Phone calls to them take time. Sometimes you need to figure out how to bypass the answering screeners and digital options. Also involves reminding them in a brief succinct manner almost every phone call of who you are and on which file. Hopefully you'll become friends after a while but these loss mitigators/negotiators can be tough to get through to at first. Also if a new person is handling the file, to bring them up to date in a way that quickly reaches them and accomplishes your goal of ACTION will be required! These negotiatiors do not feel under the gun with time restraints, almost like uunderwriters in some cases. When they get to it, it might get done. But if you can keep your file fresh to them, it wil get worked. This involves a personality that shows no impatience, rudeness, demands. Also takes perserverence because when most agents give up, they fail, and so does the transaction. So that's my insight of why short sales take so long, just waiting for people to do their jobs....You can get a lot passed and accepted but you need to learn their procedures and requirements, and meet them. Every request for money or additional money should be accompanied with a new estimated HUD for example. Well, gotta go. Talk to you later! Maria Kevorkian
ReplyDeleteI think this is an informative post and it is very useful and knowledgeable. therefore, I would like to thank you for the efforts you have made in writing this article. סדנת מכירות
ReplyDelete