How to Choose a Realtor for a Short Sale

When a homeowner makes the tough decision to do a short sale, there is another tough decision to make. Representation. Who are they going to use to represent them in the sale of their home, negotiate on their behalf, and do whatever it takes to close the sale (within legal parameters, of course). Most people would prefer to turn to a friend, but is that the right call? Sure, you trust them, you are more comfortable sharing personal information, and its easier. However, it takes a lot more to move a short sale than a regular home sale. Choosing the agent is crucial. The agent needs to be aggressive in both marketing and negotiating. The Realtor will not only have to negotiate offers that come in on the property, but the Realtor will also have to show, prove and negotiate with the bank to lose money. That is key. The Realtor will be on hold ALOT. The Realtor will need patience, and have the ability to be firm. This is not a case where you can leave a voicemail and expect a call back. The Realtor will have to be relentless at all hours of the day, especially if the bank is in California. This means negotiation during dinner, before bed, when the agent first wakes up. I have been on the phone negotiating offers at 1AM Eastern Standard Time. You have to seize every opportunity to reach an agreement, pushing them to voicemail is NOT an option. Think about these things when you think about calling someone to list a short sale. You need a bull dog, someone who will fight for you. If your friend can do that, great, if not, CALL SOMEONE ELSE.