Choosing a short sale agent is not something you should take lightly. Short sale transactions can be extremely complicated. Because of this it is very important you work with the right agent. Just because an agent has taken a few short sale classes does not mean they know what they are doing.
Below you will find three questions you should ask before working with any short sale agent. All of these questions revolve around their track record. If they can't answer these questions, find a different agent to work with.
Question #1 – How Many Years Have They Been Selling Short Sales?
You want a short sale agent that has at least 3 years of experience. In this type of situation, the more experience they have the better. Experience teaches the agent things they can never learn in the classroom or at a seminar. With experience comes the ability to anticipate certain problems and deal with them before they become an issue. If the agent also has experience in real estate, that's a big plus, as well.
Question #2 – How Many Short Sales Have They Closed?
Experience means nothing, if the agent has only closed two short sales in the last year. If you have to choose between an agent with 10 years of experience and 5 short sales in the last year, or an agent with 5 years of experience and 20 short sales in the last year, go for the agent with 5 years of experience.
They may not have been in the game as long, but obviously they know what they are doing. Agents who have closed more short sales will usually have relationships with a variety of different banks. Chances are they already have the short sale packages and know what each bank is looking for. Generally speaking they will have systems in place that will streamline the short sale process.
Question #3 – Are There Any Red Flags With My Short Sale?
An agent who has sold multiple short sells knows what things a seller should watch out for. No agent can give you legal or tax advice. However, they can spot potential problems and guide you in the right direction.
When searching for the right Nashville agent to handle your short sales, make sure you ask the right questions.
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