BrokerBryant.com: December 2011

Broker Bryant’s Year End Ramblings On Short Sales

florida short sales

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Hi folks. Here we are at the end of 2011. I spent some time this morning reflecting on short sales and these are some of my thoughts, observations and predictions.

  • In 2012 Banks are going to have even more control over our real estate businesses when it comes to Short Sales.

  • “Pre-approved Short Sale” really means the Bank will now dictate how you market, how you are paid and who you can sell to.

  • Examples are:
    • Last week I received an email from BofA, for a Co-op Short Sale listing, stating that they require the listing agent to hold 3 open houses and have at least 1 broker caravan.

    • I saw an email from a different lender requiring the listing Broker to split the commission 50/50.

    • I have had lenders refuse to sell to a corporate entity even though they are NOT the Seller.

  • Banks are outsourcing more of their Short Sales to 3rd party vendors and are requiring the listing broker to pay for these services out of their commission.

  • Loan mods are rarely given. One reason for this is that Mortgage Insurance doesn’t pay out on a loan mod but will on a foreclosure or Short Sale.

  • I need to up my game as I did not help enough people avoid foreclosure in 2011.

  • I want to help 100 people avoid foreclosure in 2012.

  • If you think you are a Short Sale expert...you are wrong. You may be experienced but you are not an expert.

  • Short Sales will increase for 2012 in the hardest hit areas.

  • You may not need a hardship to sell your property as a Short Sale.

  • You may not need to miss payments to do a Short Sale.

  • Needing to sell but not being able to due to your mortgage balance being too high IS a hardship.

  • Since more lenders may start to dictate how we split the commission on a Short Sale I need to think of alternative ways to get paid and generate income.

    • Collect advance commission at time of listing.

    • Have the buyer pay part of my compensation.

    • Charge the seller and/or lender for clean outs and maintenance.

    • Increase our buyer side commissions and fees.

    • Hire more agents.

    • Cut costs.

  •  My partner Wendy Rulnick and I have grown http://ShortSaleSuperstars.com to over 8,000 members and have made it the number one place on the web for folks to get reliable short sale information. We now have almost 50,000 unique visitors per month.
  • Lenders “google” the agents involved in a Short Sale. Remember this the next time you go to write a negative article about a lender or a Short Sale.

  • Lenders will be hand selecting more Short Sale agents for their distressed borrowers in 2012. (see my last bullet point)

Well folks, that’s it for now. I hope I have given you some food for thought. Please go out and help folks avoid foreclosure. If you don’t want to handle Short Sales send them my way. If they are in Florida I will take care of them personally, if not, I will refer them to one of our Short Sale Superstar. We cover all 50 States.


And if you are in Florida we can co-list and work the Short Sale together. You have options. Just don’t walk away from the Short Sale listing. You owe it to your community to help folks avoid foreclosure.


I will help you in any way I can. Fair enough?


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Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

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***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

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***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

 

 Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales,  Orlando Florida Short Sales, Celebration Florida Short Sales, Windermere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

 Copyright © 2017 http://www.brokerbryant.com/ | All Rights Reserved

Comment balloon 3 commentsBryant Tutas • December 29 2011 09:39AM
Broker Bryant’s Year End Ramblings On Short Sales
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