Provided By KW Blog
How many of us know someone who has foreclosed on their home, or is at least close to being in foreclosure? If there were 100 of us sitting in a room, 40 or more of you would have raised your hand.
As most Americans are aware, more than 40 percent of all residential real estate transactions are either foreclosed homes, or are on the road to foreclosure. Of those “on the road,” nearly one-third become short sales in which a homeowner and an agent negotiate a settlement with the homeowner’s lender to sell the property – and settle the homeowner’s debt – for less than the amount owned.
While some indicators point to positive momentum, the fact is best estimates from data firms such as CoreLogic and RealtyTrac report there are conservatively 4.5 million homeowners who are in default on mortgage payments in the United States right now.
That’s almost as many as were sold in all of 2010!
It’s time to get on board and help.
Any agent who is in the short sale trenches will agree that short sales are hard work that call for drive, dedication, persistence, patience and resourcefulness, attention to detail, organization and knowledge of local property values.
Ultimately, success in the short sale sector comes down to mindset – along with a lot of networking. Are you prepared to help? Here are three questions to ask yourself before you get on board.
Do you have the right mindset?
The short sale business includes plenty of fear and worry, conflict, resistance, intimidation, lack of focus and poor communication. Your challenge is to drive through these to success.
Fred Weaver, a short sale expert out of Tempe, Arizona puts it this way:
“Begin short sales with the end in mind. The homeowner is normally in trouble. The buyer is impatient and so is their agent. The lenders are demanding. Your task is to get the homeowner to the end – a settlement and no worse liability than in foreclosure.”
Before you begin working in short sales, make sure your mind is aptly prepared to take action amidst many challenges.
Are you aware of the expectations?
There are many players in the short sale transaction. Each one of those individuals has a motivation and even incentive to get the job done. Your ability to tap into those expectations can determine how and when the short sale transaction is resolved.
Are you committed to learning?
Best practices say you MUST be a student of the business every single day. Along with regular lead generation and an understanding of negotiation scripts and dialogues, it’s good to know local board and MLS rules, understand state recourse law, use experienced title and escrow people, and build relationships with BPO agents, appraisers, as well as lender/servicer relationships.
Keller Williams Realty has a powerful network of short sale agents who are giving of their time, ideas, and specific suggestions for how to navigate the rough terrain of short sales. They blog, teach, and advise other agents all the time. For many of them, reducing foreclosures in their markets is a crusade – it’s a serious business that enables them to help people in personal and financial distress every day.
Says top short sale agent Brett Tanner of Phoenix, Ariz., “There’s plenty of opportunity for anyone who really wants to do this. This market will be with us for years to come.”
Showing posts with label keller williams realty. Show all posts
Showing posts with label keller williams realty. Show all posts
Tuesday, May 10, 2011
Thursday, May 5, 2011
Lessons in eLeadership
Provided By KW Blog
What an enormous leap forward into the future you have challenged us with, and what an extraordinary opportunity it’s been for all of us. With any new challenge, new leaders emerge, and that has certainly been the case during this transition phase. To those of you who have dug in, downloaded eEdge 101, attended classes, taught classes or even stepped up as your market center’s eEdge ambassadors, thank you! We appreciate your leadership, your energy and your example more than you can imagine.
A technological undertaking of this magnitude requires patience – as well as perspective. As he’s done so many times before, Shaun Rawls has risen to the occasion with his characteristic clarity and perspective. Here’s an excerpt of what Shaun wrote a few weeks to members of the Rawls Group in Atlanta, Ga.:
“Being a pioneer is never easy. It’s hard because it’s never been done before and there are plenty of people who like pointing out the cracks in a foundation whose cement hasn’t even had time to dry. Being a pioneer is about cutting down trees to create roads upon which people will one day drive 60 miles per hour, in the comfort of automobiles with air conditioning. The launch of eEdge and the promise of what eEdge is certain to become is a gift of pioneering proportions. And best of all, it’s a gift to me and you, the people of Keller Williams Realty.
As with any change, there are those who push back on the change, those who remain neutral and there are those who embrace the vision of the benefits of change and seek first to find them and capitalize on them.
For fifty cents a day, you and I will have a complete set of technology tools never before seen in the real estate industry – $15 per month for technology that no one else in the industry has. When completely rolled out, the technology will likely save you as much money in gas as you spend on this product.
I’m really proud of this company for having the courage to tackle this initiative for our agents. And I’m really proud of all of you who have looked for, found and embraced the benefits of something incredible and new for your business.”
Thank you Shaun! We couldn’t agree more!
Yours in embracing the benefits of something incredible and new for your business!
What an enormous leap forward into the future you have challenged us with, and what an extraordinary opportunity it’s been for all of us. With any new challenge, new leaders emerge, and that has certainly been the case during this transition phase. To those of you who have dug in, downloaded eEdge 101, attended classes, taught classes or even stepped up as your market center’s eEdge ambassadors, thank you! We appreciate your leadership, your energy and your example more than you can imagine.
A technological undertaking of this magnitude requires patience – as well as perspective. As he’s done so many times before, Shaun Rawls has risen to the occasion with his characteristic clarity and perspective. Here’s an excerpt of what Shaun wrote a few weeks to members of the Rawls Group in Atlanta, Ga.:
“Being a pioneer is never easy. It’s hard because it’s never been done before and there are plenty of people who like pointing out the cracks in a foundation whose cement hasn’t even had time to dry. Being a pioneer is about cutting down trees to create roads upon which people will one day drive 60 miles per hour, in the comfort of automobiles with air conditioning. The launch of eEdge and the promise of what eEdge is certain to become is a gift of pioneering proportions. And best of all, it’s a gift to me and you, the people of Keller Williams Realty.
As with any change, there are those who push back on the change, those who remain neutral and there are those who embrace the vision of the benefits of change and seek first to find them and capitalize on them.
For fifty cents a day, you and I will have a complete set of technology tools never before seen in the real estate industry – $15 per month for technology that no one else in the industry has. When completely rolled out, the technology will likely save you as much money in gas as you spend on this product.
I’m really proud of this company for having the courage to tackle this initiative for our agents. And I’m really proud of all of you who have looked for, found and embraced the benefits of something incredible and new for your business.”
Thank you Shaun! We couldn’t agree more!
Yours in embracing the benefits of something incredible and new for your business!
Saturday, April 30, 2011
How can one day change North America?
My Dear Family -
What an honor it is to be the recipient of a birthday present that unites, energizes and mobilizes Keller Williams agents all over North America to go into their communities and do these good and wonderful projects. Every year I hear about the incredible acts of kindness and awesome amount of giving and I am deeply, deeply touched.
RED Day is our culture at work. And it’s the glue that binds our company together as we express our commitment and our solid values to make our communities better places in which to live. I can’t tell you how awesome it is to see videos like the one below display our wonderful culture in action. You are incredible, and I thank you.
Last year’s impressive success story included 150,000 hours of community service by 35,000 agents.
We’re only a few weeks away from this year’s RED Day and my hope is that we will double our efforts! At least 250,000 hours spent working in our communities and 45,000 associates.
So here’s the question: Is everyone rallying around together to go make this wonderful, wonderful thing happen. I think so!
When you participate in RED Day, your life will be changed to a greater extent than those you have helped. This is going to be a glorious day. I thank you so much for your efforts. I thank you for what you’re doing and the difference you’re making not only in the life of your community, but in your own personal life. We love you.
What an honor it is to be the recipient of a birthday present that unites, energizes and mobilizes Keller Williams agents all over North America to go into their communities and do these good and wonderful projects. Every year I hear about the incredible acts of kindness and awesome amount of giving and I am deeply, deeply touched.
RED Day is our culture at work. And it’s the glue that binds our company together as we express our commitment and our solid values to make our communities better places in which to live. I can’t tell you how awesome it is to see videos like the one below display our wonderful culture in action. You are incredible, and I thank you.
Last year’s impressive success story included 150,000 hours of community service by 35,000 agents.
We’re only a few weeks away from this year’s RED Day and my hope is that we will double our efforts! At least 250,000 hours spent working in our communities and 45,000 associates.
So here’s the question: Is everyone rallying around together to go make this wonderful, wonderful thing happen. I think so!
When you participate in RED Day, your life will be changed to a greater extent than those you have helped. This is going to be a glorious day. I thank you so much for your efforts. I thank you for what you’re doing and the difference you’re making not only in the life of your community, but in your own personal life. We love you.
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