subject: Short Sale Training And How It Can Improve Your Business [print this page] Although we appear to be emerging from the recent financial crises, even now we live in a world which is more competitive than ever before. Due to this, any benefit that you've got over the opposition is essential meaning that any extra skills or resources can be of an immense advantage to you.
If youre in the real estate business, then you may even be able to take advantage of the recent downturn in the economy because there are still numerous people who're struggling and are unable to meet the payments needed for them to keep their homes.
When a debtor does find their self in a position where they're no longer able to pay the monthly bills then they might have to take drastic action or face losing everything. Although it might be unreasonable for them to expect to keep their homes if they cant pay for it, they can at least exercise some damage limitation by talking to their bank.
The debtor might be in a position to short sale their house, if the bank agrees. Meaning that the bank would agree upon the house being sold for a value that doesnt completely pay off the outstanding debt, but they would still settle the account. The clear advantage of this for the debtor is that they steer clear of running up huge debts and their credit rating is left intact.
As a real estate broker, this is where, short sales coaching becomes extremely essential to help your business to succeed in the future. Whereas normally a broker would wish to sell a house for as much as possible to obtain as much commission as possible, the reverse could be said for short sales. With a short sale, the sale is urgent and if not completed quickly the house could go into foreclosure and the deal lost completely.
Because of this, it's necessary to put a valuation on the home that is as low as possible to encourage a quick sale. However, the valuation must still be agreed to by the lender which means that there is a need to find a compromise between the two.
Here at shortsaleology, we have the experience to train and coach your staff on how to reach an agreement between both parties so that you could complete the short sale at optimum value. We are going to train you in what to look for regarding factors that will decrease the value of a home and how to best present them to the lender to improve your chances of an agreement.
Once youve mastered the skills then your company would see a significant rise in revenue that is created by short sales, helping to pad out your bottom line. You could even find yourself succeeding where the competition fails since if a broker fails to reach an agreement with the lender then they can ask for a second valuation, leaving the doors open for you to close the deal. Once your company has developed a reputation of closing the short sale quickly, then you would be first on the list of those who require such services.
