How To Choose A Short Sale Agent?

Most agents do not like to work on short sales for the fact that short sales are 2 to 4 times more paper work and less pay. Here's why:

1. In a regular sales, agents deal with only one principle, the seller. In a short sales, agents are dealing with multiple principles including the seller and the lenders - 1st, 2nd trustee and/or 3rd trustees.

2. Since seller will net zero profit on the sale, lenders are the ones who are actually paying the sales commissions. In a short sale, lenders are suffering financial lost already and most of them cut agent's commission to approve the short sales.

Despite of the common judgement, most sellers like to hire an agent that is most popular in the area. However, those agents are not nessasary the best candidates for short sales homes. Most popular neighborhood agents prefer regular sale over short sale for more pay and less work.

Ask your agent how long it will take to secure an offer on your house. If the answer is 7-10 days, most likely you are dealing with a very experienced short sale agent. If it is 30 days, 90 days, 120 days or I don't know, it will not be a good idea to hire those agents since they do not understand the urgency and nature of the short sales. You can find out why with my blog on "Four Stages of A Short Sale Transaction".

I just recently closed a short sale transaction that had 3 loans on the property. By the time the house was sold, my folder is 4 time thicker than a regular sale.

Despite of the amount of work (and less pay), it is very fulfilling to know that I helped the seller resolved a fiscal problem in a financially responsible manner.

If you are looking for an experienced short sale agent to help selling your home, I will love to have an opportunity to have an interview with you and tell you more about what I do to get your house sold quickly. Please call me at (626) 922-8408.