A Way To Get MORE Listings Now

Dated: 10/25/2018

Views: 205

A Way To Get MORE Listings Now! 

So let's talk about a way to get more listings. So a lot of agents went through a period where they dealt with a specific type of listing they didn’t like it, it scared them, it took too long, and it was very complicated. If you haven't guessed what I'm talking about by now you should have and it's called a short sale. But what's happened over the past 10 years is banks have actually become very good at processing a short sale.

Now remember when the market crashed everybody and their mom was selling their home or closing on their property or having to do a short sale. Banks at the time only had a small short sale department to handle these types of sales because they didn't come up very frequently. So what they did is they got oversaturated with the short sales and their small departments couldn't handle it. So that’s why short sales were taking 3 to 6 months just to get an approval.

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Well, over the past 10 years banks have gotten hip to it they know what's going on. They’ve created entire departments dedicated to short sales only problem is, well it's not really a problem its good,  the markets great, the bounce-back, everyone's happy, and what's happened is Realtors have forgotten about a short sale and they only did it because they had to. But now business is good, buyers are back, prices are up, it's a seller's market, everyone's happy but the problem is there's still some people out there that are having a heartache of some sort they're losing their jobs, getting sick, they're getting divorced, there’s still things happening to put people in the position where they're falling behind on their mortgage.

So if you're more than 90 days behind on your mortgage that is when you get filed a lis pendens. That's when the bank says to you “Hey listen you haven't paid in more than 90 days, so we're suing you for foreclosure”. Now if you go into your property tax records to see these properties in a particular or any given neighborhood. You pulled the neighborhood you'll see all the foreclosures or pre foreclosures that are taking place now.

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My recommendation to you is to reach out to those sellers and let them know that you are a realtor and you can help them with the process of doing a short sale and they don't have to be afraid of going into a foreclosure. Where if they did go on a foreclosure they can't buy a house for another 7 years, their credit is absolutely ruined, and even if after 7 years a bank goes to give them alone and they see that they’ve actually had a foreclosure in their past. They don't necessarily have to give them a mortgage in the future, so what I'm recommending you do is go back after the short sales let them know you can help and guess what the process has been streamlined now.

So there's a lot of banks that will give you an approval anywhere from two to three weeks now and I've seen it personally, I've seen people get a short sale approval in less than a week. So don't be afraid of the short sale, go after the business. Why? Well there's not a lot of realtors going after those so you have virtually no competition whatsoever. So contact the homeowners, let them know that you're interested in helping them because you see they're behind on their mortgage and all this penance has been filed, send them a FedEx envelope so they could see your information. Let them know that you can help them or negotiate that they can get relocation assistance, which means the bank is willing to give them some money to help them relocate as long as they don't trash the house or literally take the kitchen sink with them.

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By doing this you can start to generate more listings and on top of that you can actually enter or break into a market where you haven't been able to get in before because the competition is so tough. So for instance, you want to get $600,000 listings, you want to up your price point. Only problem is there's a few agents that have this certain neighborhood locked down and anybody that lists their home their pretty much going to go to that agent. Well guess what. You know that agent is an act and isn’t going after that short sale or the Foreclosure pre-foreclosure in that neighborhood, but you can and at this point that seller needs you more than you need them.

A Way to get more listings now!

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