Posted by Mark Rieger

There can be many different personal reasons you decide to proceed with a short sale on your home. The short sale process can be very complicated, and if you don’t hire a competent real estate agent with short sale experience, you may end up dealing with much more stress and hassle than you need to.

Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose on the property. Not all properties qualify for short sales either, so before you make the decision, speak with your lender first.

You may think you’ll save money trying to go through the process on your own. However, it’s important that if you choose to place your home on the market as a short sale, you hire an experienced short sale real estate agent. Here are just a few reasons why:

  • In many short sale cases, the bank requires it. The bank wants to ensure that your property will get the marketing exposure it needs to Sell for top dollar. Many properties that are For Sale By Owner (FSBO) don’t get the exposure they could by listing with an agent.
  • The bank generally pays for the real estate agent as part of the short sale. For that reason alone, you should hire an experienced agent.
  • The short sale process is very complicated and can take time. Let an agent with short sale experience handle the process, deal with the bank, gather and submit all necessary paperwork, and market your property to Sell. Banks know that if they work with a Realtor, the paperwork will likely be processed in a timely manner.
  • The laws regarding short sales continue to change and are bank specific. If you have any questions, an experienced real estate agent can help you get them answered.
  • A real estate agent with short sale experience knows how to communicate and negotiate with the bank.
  • An experienced agent can also communicate and negotiate with the buyers’ agent.

Real estate agents work in the market every day helping people Buy and Sell houses. They are familiar with the process. If you qualify for and plan on a short sale for your home, hiring a real estate agent with short sale experience is your next crucial step. I'm ready if you have any questions.