How to Learn Short Sales

With rising foreclosures and falling market prices, whether you are a real estate agent or investor you need to know how to do the whole “short sale” thing. According to studies, these sales represent over half of the real estate transactions; you cannot ignore short sales anymore.

You might be thinking these are too hard, too consuming, frustrating, complicated but they are sure worth it!

How do I get started?

First, you want to get yourself educated. Taking courses is great but the best education that you can received is getting along side someone who has experience and know what they are doing such as a short sale coach. Seek out people who are negotiating and closing deals successfully.

While looking for your coach, don’t be fooled. Just because he or she has letters behind his/her name doesn’t make him/her an expert. Ask questions and get to know her/him. Many people have taken classes and been certified but have never made a transaction.

Here are some questions that you might ask when meeting with your coach. If he or she is great at what he or she does, he/she will be able to answer these questions.

• How long have you been doing short sales?
• What lenders/services do you work with? Those you like best and why?
• What was your worst deal?
• What was your best deal?
• How many successful sales you have negotiated?

If the coach cannot answer these questions, find someone else. Continue to educate yourself so you will be successful.

For more information about finding a Short Sale Coach []

Deb McMillan, The Short Sale Queen [].

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