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I have just finished Googeling Boise Short sale experts and see a lot of
“Certified Short Sale Experts” certified by various teaching organizations. I
just picked one randomly and looked up this persons listing and sales record.
She or He had 13 cancellations, 7 expired short sale listings, 1 pending and 18
closed. Two of the canceled or expired subsequently sold. So out of 38 listings
18 closed.
Boise Idaho Certified Short Sale Specialist
Boise Idaho Certified Short Sale Specialist
Debt Relief Forgiveness has been extended through 2013. Call Jon at 208-870-2115 for details.
Boise Idaho Certified Short Sale or Distressed Property Experts.
Let’s be fair and make it 36 listings because two were listed twice and subsequently sold. That still
is a meager 50% closure rate. Actually that is pretty good considering most
everything else I read shows that nationally only 14% to 20% of attempted short
sales actually close! I also have looked at several other so called short sale
specialists or distressed property specialists (or experts), and many have much
worse success and less experience than this. Few had a lot better success ratio
and lots of closings.
As soon as there is a market the “teachers” and “certifications” pop up all over. Some are
just people giving classes with their personal certification. Some of these are
a few hours long and you get a string of letters to put after your name.
is a meager 50% closure rate. Actually that is pretty good considering most
everything else I read shows that nationally only 14% to 20% of attempted short
sales actually close! I also have looked at several other so called short sale
specialists or distressed property specialists (or experts), and many have much
worse success and less experience than this. Few had a lot better success ratio
and lots of closings.
As soon as there is a market the “teachers” and “certifications” pop up all over. Some are
just people giving classes with their personal certification. Some of these are
a few hours long and you get a string of letters to put after your name.
Short sale certification is meaningless. Some of the certifications are developed by banks.
Do you think they teach you to fight for the seller to not pay a deficiency in a
deficiency judgment state, or fight for a buyer when the bank counter offers? I
am not saying all training is worthless or all certifications are meaningless.
But how do you tell the difference?
With Short Sales there is nothing more important than plain raw experience. Numbers count.
Eventually everyone fails. Short sales are difficult. Failures should be the
exception. For sellers failure can be devastating and lead to foreclosure or
worse. Would you go to a surgeon with a 50% success rate for gall bladder
surgery?
Anyone choosing an agent for a short sale needs to ask the potential agent to show them their record. The same with a buyer agent. You can save yourself and your buyer a lot of time and angst by
looking in the MLS and looking at the listing agent’s record, both numbers and
percentages of success and failure.
Be careful doing this. Be fair. Some listings will be canceled or expired but
subsequently sold. Some will be canceled because the seller worked out another
solution. When working with buyers, and another listing agent’s short sale
I look see cancellations or withdrawals I ask the agent to be fair, and
see if there are any legitimate circumstances so not to unfairly count all
cancellations against the agent. We look at how many they have listed, how many
they have closed or failed to close. If we want the house and the agent is
inexperienced I ask if we can help them.
I have no short sale certification but have been involved in over 100 short sale closings and
with my partner have a 90% closure rate as of now. We have only 2 expired unsold
and a few cancellations do to various reasons like other workout solutions. My
partner in short sales John Boles has gone through Short Sale Genius
certification and still subscribes to their ongoing updated training and
networking and it has been very helpful.
I think agents being involved in short sales need to really consider Realtor Ethics. In fact
Doctor ethics should be applied. “Do no harm.” If one is holding himself out to
be a short sale expert and as a 50% success rate I think their ethics are
questionable. I am not a short sale specialist. I have done and will
continue to do a lot of short sales and I have been very successful closing
them. I am comfortable and confident that I will get those that I list closed.
When I first started, I told people the truth. When I first started short sales
there was no certification that I knew of. The loss mitigation departments of
most banks didn’t even know what they were doing!
If you have questions or comments post away or call me at 208-870-2115. Please check out www.BoiseRealEstateWebsite.com! But come back to www.BoiseMeridianRealEstate.com to search the Boise area MLS!