Short Selling Your Home? Is Your Realtor Being Interviewed?

We all know that until the market stabilizes and prioces return to pre recession levels that short sales are becoming more prevelant way to sell a house today. In lieu of foreclosure more people are trying to sell their home before that process is finished.

Well, like most Realtors the experience with short sales is a roll of the dice. Some times you have a great experince and an easy transaction. Other times it is a drawn out long process with what feels like no end in sight. It has made realtors leary of showing homes that are marketed as short sales.

So, how does a Realtor with a potential buyer overcome the negative feeligns they have for dealing with a short sale? They interview the Realtor up front. I am and have been on both ends of the transaction. I know if I have a home a client wants to look at that is a short sale I will call the realtor that has the listing and ask them a lot of questions about the process and where they are at with it. I want to know they know what they are doing and have all the paperwork done or ready to go before I show the home. Nothing is more frustrating to a buyer than telling them it will be a month or two before you hear an answer to find out the Realtor was over their head with the short sale and did not realize the time and effort that is needed to procure the transaction. Or worse yet they do not answer the phone or call you back.

On the selling end I almost always receive a phone call prior to a showing asking me the same questions about the short sale. I understand the importance of knowing what I am doing and making sure that I give correct and accurate infromation as to where in the process I am wiht the short sale. It has helped me close just about all of my short sale listings thus far.

So, if you are listing your home for sale as a short sale to avoid foreclosure make sure you interview your Realtor and that they answer the phone or return the call in a timely manner. most importantly that they know the process of the bank you are dealing with. Without that knowledge and courtsey your home may not be shown or sell...

Dave diCecco
Realtor/Broker
www.davedicecco.com