Tony and Suzanne Marriott's Phoenix Arizona Real Estate Blog

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Why Many Realtors Should Refer Their Short Sale Listings To Specialists

Very well written rationale for why agents should refer their short sales to agents who:

Specialize in Short Sales

Have a List to Close ratio of at least 70% (ours is in the 90% plus range overall and 95.83% for 2010)

Have closed at least 25 Short Sales (we have closed more than 50)

Have the ability to escalate Short Sale files to CEO level at the Seller's Lender if need be


If a Realtor is not a short sale specialist, he/she should refer their short sale to a local Realtor who is.

The client-centric reason: It is the responsible thing to do for the client.

The Realtor-centric reason: Someone else does the stressful heavy lifting and the referring Realtor gets paid a referral fee.

The Importance of a Short Sale on the Client's Emotional and Financial Health

We have all heard that buying or selling a house is the biggest transaction for most consumers. The importance of that transaction is eclipsed by the magnitude of a foreclosure or short sale.

The expertise of the short sale Realtor will determine the outcome. A successful short sale enables the seller to avoid foreclosure and sell their house with dignity.

Far Reaching Implications

A successful short sale vs. a foreclosure has far reaching implications, including but not limited to:

  • Debt forgiveness vs. deficiency judgments
  • Credit score implications
  • Reduced length of time until a new mortgage can be obtained
  • The need, or lack of need, for a bankruptcy, whether it is pre-foreclosure or post-foreclosure bankruptcy
  • The emotional advantage of avoiding foreclosure vs. going through a foreclosure
  • Tax implications
  • Potential loss of security clearance for certain employment

Referring a Short Sale Does NOT Indicate Weakness or an Admission of a Shortcoming

The sellers need to move on with their lives. Not every Realtor is trained and organizationally set up to handle short sales. That is OK. That doesn’t make the Realtor a bad Realtor. It just means that she or he doesn’t specialize in short sales, just like the short sales Realtor may not specialize in condos, commercial property, mobile homes, horse farms or a multitude of other real estate specialties.

Referring a Short Sale Listing to a Specialist Shows High Level of Responsibility and Loyalty to the Client

Referring a short sale listing actually shows a high level of responsibility and loyalty to the seller. Rather than diminish the seller's chances of a favorable outcome, the Realtor will refer their short sale to an expert who consistently delivers results.

Realtors Who Are Aspiring to Become Specialists Should First Get Highly Trained and Should Have Mentors

For the aspiring short sale Realtor, all short sale listings are an opportunity to hone your craft. The road to becoming a specialist includes getting comprehensive training on the fundamentals, plus never-ending continuous advanced training. In the beginning, one must be coached and mentored, so not to sacrifice your clients during the learning curve period.

 

Dave Halpern

Real Estate Broker, Louisville Short Sale Expert Realtors

(502) 664-7827

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Sellers looking for foreclosure help in Louisville, KY should call Dave Halpern, Realtor, Louisville Short Sale Expert Realtors, (502) 664-7827. I will dedicate to you all the time you need for a full explanation of the process. We are compassionate, caring and patient. I will listen to your needs and wishes and customize a strategy to meet your circumstances.

I will provide you detailed information about foreclosure options and short sales. We help dozens of sellers avoid foreclosure every single year in Louisville, Jefferson County, Oldham County, Bullitt County, Shelby County, Nelson County and Spencer County.

We can help. You have options. Call even if you think your house isn't sellable. Put an expert real estate agent on your side. Many testimonials available.

Dave also trains other Realtors how to perform successful short sales.

 

View Dave Halpern's profile on LinkedIndave_halpern twitterhalperndave_facebookDave Halpern QR CodeLouisville Foreclosure Realtors Dave Halpern

About the Authors - Updated 2018

If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with the BVO Luxury Group @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.

Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!

Tony Marriott - Chief Operating Officer - BVO Luxury Group @ Keller Williams Arizona Realty

Suzanne Marriott - Chief Learning Officer - BVO Luxury Group @ Keller Williams Arizona Realty

Associate Brokers, REALTORS
BVO Luxury Group
Keller Williams Arizona Realty

Comments

One way to do it is work with a professional negotiator and attorneys that are knowlegable.

And I agree, It would also be prudent to learn as much as you can about the process so that you understand it.

In my case, I have also teamed up with a short sale guru in my office and I have learned a great deal from her. I guess she is my mentor as we have worked on deals and done a few splits together.

Posted by Tom Robinson, Experienced Real Estate, Professional Serving No. VA and DC (Keller Williams Realty Kingstowne/Alexandria, VA Office) almost 8 years ago

Tony and Suzanne,

I couldn't agree more.  I am an REO title specialist and owner of a small title agency in Maryland, specializing in the transfer of REO property.  I am also a licensed real estate agent.  I do not list or sell property, but I do make referrals to those agents who have proven to me over the years to be the BEST at what they do. 

When it comes to short sales and REO transactions, it is imperitave that the buyer or seller use the services of an EXPERT in the field of short sales and REO.  The use of experts in Short Sale and REO transactions should include the agent, the title agent and the lender.   These are not your usual cookie cutter deals and it takes a team to make them come together.

Great post.  Thank you for sharing.

Posted by CHARLENE PERRY, CLTP, Insuring the Past to Protect Your Future (Key Title Corporation) almost 8 years ago

Excellent reblog.  It is important to get the home sold for these distressed sellers.  To bring the transaction to a successful conclusion it is crucial to have a knowledgeable team.

Posted by Pam Dent, REALTOR® - Charlottesville Virginia Homes / Horse (Gayle Harvey Real Estate, Inc.) almost 8 years ago

Tom Robinson I was remiss in the early days - just now catching up with comments from blog posts since day 1 - thanks for the comment - hope you are still in the 'Rain!  

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) about 3 years ago

CHARLENE PERRY, CLTP I was remiss in the early days - just now catching up with comments from blog posts since day 1 - thanks for the comment - hope you are still in the 'Rain!  

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) about 3 years ago

Pam Dent I was remiss in the early days - just now catching up with comments from blog posts since day 1 - thanks for the comment - hope you are still in the 'Rain!  

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) about 3 years ago

Enjoyed this post and want to read more - try this one - Peacocks and Pickles for Christmas 2015!  Merry Christmas!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) almost 3 years ago

Enjoyed this post and want to read more - visit our website  - HavenExpress.com - where all your questions about buying and selling residential real estate in Arizona are addressed!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 2 years ago

Enjoyed this post and want to read more - visit our website  - HavenExpress.com - where all your questions about buying and selling residential real estate in Arizona are addressed!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 2 years ago

Enjoyed this post and want to read more - visit our website  - HavenExpress.com - where all your questions about buying and selling residential real estate in Arizona are addressed!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 2 years ago

Enjoyed this post and want to read more - visit our website  - HavenExpress.com - where all your questions about buying and selling residential real estate in Arizona are addressed!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 2 years ago

Enjoyed this post and want to read more - visit our website  - HavenExpress.com - where all your questions about buying and selling residential real estate in Arizona are addressed!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 2 years ago

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