We have faced this before. However, it is rearing it’s ugly head more and more. Some agents are becoming frustrated with the “waiting game” that has to be played when it comes to their buyers waiting for a short sale to complete. Some Short sales can take months, but needing a paycheck is not reason to cut off what could be the opportunity of a lifetime for a client.
Notice that I said Client – there should be a sort of kinship between the agent and their buyer. They should want to do whatever it takes to keep them(the client) happy and well protected when it comes to doing any Real Estate related activities.
Not being in position to collect a paycheck after 6 months or longer can put some agents in a bad spot. However, that is why when I give my training classes to the newer agents I always talk about the “pipeline”. If that proverbial pipeline is full – then when escrows start closing – it continues. However, keeping the real estate pipeline full does mean some personal sacrifice. Agents have to work harder than ever. Agents have to do daily writing about the current state of the real estate market in their local communities of influence. Agents have to become more client focused, answer their phone, return calls promptly and respond back to email inquires.
Real Estate is no longer a “Side Job”. Real Estate is a professional business. It requires learning, spending, and is very time consuming if you want to be one of those agents that makes their mark as a top producer with great Reviews!!!
One of the strategies that we use with our clients and buying options is hitting up short sales that have been “Set and forgot”. Those that have been on the market for sale for long time frames. It is very likely that when the short sale approval comes, the buyer(s) will no longer be in place. That is a great opportunity for someone just entering the Home buying market to swoop in and get what they want for under fair market value.
Be Safe – enjoy your Saturday and if you are not out looking at properties for sale check them out on-line with our Multiple Listing Service Search engine.