Need Access To A Distressed Properties Division?

Ordinarily, any agent can list a distressed property for sale with no specific knowledge

of the particular treatment these types of listings require, or the criteria the lenders look for in a short sale. The Arizona Department of Real Estate (ADRE) mandates that a real estate agent not do business outside their areas of expertise. A real estate agency that has a division fully devoted to the purchase and sale of distressed properties is a huge asset to its clients.

It is worth noting that the agents at Sandra Wilken Luxury Properties who are interested in handling lender-owned or short sale listings are required to first obtain a specific designation: Certified Distressed Property Experts, (CDPE). Currently, Sandra Wilken Luxury Properties (SWLP) had six CDPEs in house. Anne Dougherty, a broker with 12 years experience in her field, has joined the SWLP team, and is heading up the Distressed Properties Division. Anne was the managing broker for a large, recognized real estate company with over 300 agents, and brings her vast knowledge of the complexities of a short sale or foreclosure, disclosure and liability issues, and transaction management to assist the agents at SWLP with successfully completing a foreclosure or short sale.

Anne says that "what had been unusual in this industry (foreclosures and short sales) are now becoming the new traditional real estate transaction, and we need to know how best to handle these for our clients to both protect them and help them complete the sale in their best interest". She believes that the best way to assist SWLP's distressed property clients is to have as much knowledge as possible, and have an attorney negotiate the sale with the lender(s). As manager of the Distressed Properties Division at SWLP, Anne carefully selects and works with law firms, accountants and credit advisors that have the most experience handling financial affects with the lenders and the short sale negotiations.

At SWLP, they are well ahead of most real estate companies when it comes to handling distressed property listings and sales. Because real estate agents with CDPE designations are so much more knowledgeable about foreclosure and short sales, they are truly worth their weight in gold. According to the latest industry statistics, the national average closing rate for short sales is 25 percent for CDPE Realtors, however, the closing rate skyrockets to between 80 and 85 percent! This is the kind of clout you want when facing something as financially and emotionally traumatic as a distressed property negotiation.

by: Sandra Wilken

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