Partner with our short sale negotiations team today.
In fact, email Kevin@shortsaleblogring.com right now for a personal introduction to your negotiator.
As a Short Sale Blog Ring Member, you should already know that our short sale negotiation services are top notch and as a member, you have personal access to some of the most experienced expert negotiators in the US.
Here are some keypoints about our services that you can use to boast on your blog and strengthen your track record & reputation:
1. Our services are always free to the seller & to the agent. We are paid by the bank or the buyer, outside of a few rare exceptions.
2. Our negotiators boast a 95%+ success rate
3. Our negotiators have collectively negotiated over a 1000 short sales
4. Our negotiators have all been personally hand selected by Kevin Kim, founder of the Short Sale Blog Ring and a highly recognized Short Sale Expert.
5. We have over 13+ offices all over the US
If you have not already joined forces with one of our negotiators, then do it now. We will assign you a personal negotiator based on your location.
How to Get Paid 100% Commissions
As you may know, our negotiations are 100% free to the agent & seller. Our negotiatiors get paid in the following three ways:
1. We negotiate a 3% credit to be paid by the seller (the bank) towards buyers closing costs. We then have the buyer pay us that 3% at closing, so while the buyer ends up paying our fees, they are actually not coming out of pocket since they are simply using the credit that we negotiate.
2. If the bank is not willing to credit 3% towards closing costs, the buyers must pay our fee of 1.25% of the purchase price.
3. In the rare event that neither the bank or buyer can afford to pay the fees then the agent must contribute up to 50% of their commissions for our fees.
In order to facilitate a clean transaction that is 100% free to you as the agent, you must carefully execute the following steps before generating the offer.
1. Listing agent must indicate on their MLS listing that buying agents must follow special instructions before sending an offer
2. Listing agent must seek a strong buyer, which means a buyer with a larger downpayment. The more cash the buyer has, the more likely the buyer will be willing to cooperate with paying the 3% out of the credit, or the 1.25% in the event that there is no credit.
3. Listing gent must instruct the buying agent to provide the following in a blank addendum:
A. “Seller shall contribute 3% credit towards buyers closing costs”
B. “Buyer to pay negotiation / processing fees not to exceed 3%”
4 . Listing agent must explain to buyer that because a credit is being negotiated, that the buyer will not be paying out of pocket for negotiation fees, but that in the event credit cannot be negotiated, then the buyer must be willing to pay 1.25% at closing. If buyer cannot do that, seek a stronger buyer or simply move forward if there are no other buyers. Use wise judgement, it is better to make 50% commissions then no commissions at all.
5. Ask escrow to reflect the 3% seller credit on the HUD and deliver to your negotiators the revised HUD
Remember, your team has collectively negotiated over 1000 short sales and that they have a 95% success rate. This should produce confidence in all parties.
5 Commandments for Listing Agents
1. Be confident in your team and take authority over the buying agent. Do not let the buying agent call the shots because they probably will not have even a fraction of the experience as your team. Instruct them kindly but be firm.
2. If you are not generating offers, drop the price by 5% weekly (bi-weekly at the most). Indicate in your MLS listing that you will be doing this and you will generate multiple offers
3. Make sure that you advertise the strength of your short sale team in your marketing. Use our track records to stand out amongst the crowd.
4. Make sure that you are not lazy with your short sale packages. Have it 100% complete and be pro-active in delivering updated financials & bank statements.
5. Don’t give sellers the expectation that deficiency judgements are simply eliminated via the short sale process. Our job is to release the lien, not to eliminate their debt. That is something a Pre Paid Legal Bankruptcy Attorney or your Debt Settlement team can do on behalf of the client.
