There are several reasons why it is critical that you choose the best short sale real estate agent whenever you are giving out your property or buying one. Picking the unskillful short sale realtor can be lead you to forfeit a reasonable sum of money your creditor was willing to offer since your realtor working on your behalf did not negotiate well.
In addition to losing a lot of revenue, short sales procedures involve a lot of documentation, and missing out any document or making a mistake in any of those records may translate to months of a delayed process.
What is more, unlike the routine real estate transaction that typically involves only two parties, the buyer, and the seller, short sale has three sides, the buyer, the seller and the lender. This is why the short sale processes are far more complicated than the typical real estate procedures.
So, hiring an experienced short sale agent to negotiate on your behalf is vital. Here are tips that will help you avoid making horrible mistakes when picking your short sale realtor.
One of the primary qualities that you need to find out from a short sale agent you are interviewing is their experience that they have gained from the real estate industry. Your potential agent needs to have worked in the industry for more than ten years to gain substantive expertise about the sector's dynamics. If the realtor is still thriving on these assignments, then you need to gauge his ability to deal with the short sale transaction. The short sale realtor needs to have completed at least five short sale transactions without an issue.
You also need to avoid hiring a part-time realtor. It is vital that you pick someone whom you can with comfortably. Sometimes you need to hire someone who can sell your property without having to advertise it. It is worthwhile to give your business a little privacy as you do not want people to know about your financial hardships.
You need to pick a short sale agent that has appealing character and is happy to sacrifices whatever is within his means for you. You know you have to work with your realtor for some time. You need to obtain all that is there out of your efforts.
Also, you need to ask him if he offers guarantee to get you what you deserve from your property. A professional realtor should be able to take the risk of paying you if they cannot broker a deal with the creditor.
You need to know that after you sell your property, you need to have a place where you will stay; your realtor should help find one for you and your loved ones. Your credit must be down due to your financial hardships. Your short sale record will not alleviate your economic quagmire. Thus, you will not qualify for a rental property. This is the reason why it is fundamental picking a realtor that will sort you out in such a case.
Your short sale agent should have experience when it comes to loan modification.