REALTORS MOST FAQ
We manage the BPO process. We attend all of the BPOs and meet with the BPO agents. Lenders order their own BPO’s. They will be performed by either a real estate agent or an appraiser as selected by the lender. This is one of the most important parts of the short sale process and we will need your cooperation with this process.
You can start by referring to me short sale opportunities and/or selling any properties
No. You will not close on a property and then let it go into foreclosure. Remember we are closing on the same day with the seller and a new end buyer. Commissions are only
paid at closing.
Here is an example of what you can say to introduce us to your seller:
"In today's ever changing real estate market, you need experts working with you and for you to sell your house and keep it out of foreclosure. As a real estate professional, I can sell your house if
it is priced correctly. I am an expert at selling homes. I have aligned myself with experts in the foreclosure and short sale business. They can help me get the price that I need to sell your house
by negotiating with all of your lien holders. It's critical that we get them involved immediately. When are you available to speak with them?"
Yes. If you refer 1-3 realtors to us that we engage (defined as the seller executing all of the paperwork, and proceeding with the short sale) we pay you an additional .5%
bonus at closing. If you refer 4-10 realtors to us, we pay you an additional 1% bonus at closing. If you refer 11 or more realtors to us, we pay you an additional 1.5% bonus at closing. These bonuses
are independent of their listing bonuses described in question 6. The realtor referrals ARE NOT added to their listing referrals to calculate the bonus.
Yes. If you refer 1-3 of your listings to us that we engage (defined as the seller executing the paperwork, and proceeding with the short sale), we will pay you an additional
1% bonus at closing. If you refer 4-10 deals to us, we will pay you an additional 2% bonus at closing. If they refer 11 or more deals to us, we will pay you an additional 3% bonus at closing
We will explain the process to the seller during our initial conversation and then again when we meet them in person. I will need the Realtor to set the stage with some
information and support as to why it makes sense to work with us and our process.
The seller does not pay any fee to anyone. Unlike other organizations, we are paid for performance and do not take any upfront fees.
No. There are no fees to anyone in this process. Again, everyone is paid upon performance at closing. You may incur normal marketing costs as like any other listing through
this process.
We guarantee 6% commission and will pay additional bonuses. We have aligned myself with one of the best short sale organizations in the country. We offer joint venture
opportunities to Realtors, Agents and Brokers. We are backed with a partnership that has experience, contacts, buyers and funding.
No. We guarantee a 6% commission for the transaction from your seller to the end buyer: Guaranteed 3% commission to the listing agent and 3% commission for the buyer’s agent
based on the sales price. Additional bonuses are available for referring realtors.
The more mortgages and liens, the better. Liens that are junior to a 1st mortgage are exposed when it comes to foreclosures. If a property goes to auction, junior lien holders
stand a very good chance of getting wiped out in situations where the property is worth less than what is owed.
We can't make any promises regarding deficiency judgments. That said, the partner firm that negotiated the short sales has been EXTREMELY successful in obtaining full
satisfactions.
Yes. All liens encumbering the property (mortgages, HELOCS, IRS liens, HOA liens, contractor liens etc) will be negotiated in the short sale.
No. All parties are paid upon successful transactions.
It depends on the property type and the seller’s financial situation. We are not a CPA nor are we qualified to provide tax planning advice. If this is necessary , the seller
should seek the guidance of a qualified CPA that can also discuss potential tax ramifications.
We have been negotiating short sales over the past 6 years.
The seller chooses who to list the property with. That said, if the property has been listed with a specific agent who has produced no offers, I will work with the seller to
understand if this agent is the best agent to get the house sold.
No. The lender will not allow for an owner to receive any compensation from the sale of their personal residence.
Yes. Again we want to make sure that the person that lists the property is the most qualified person to get the property sold.
Yes. Again we want to make sure that the person that lists the property is the most qualified person to get the property sold. The focus should be on solving the foreclosure
and getting the home sold, not as an income source.
No. The lender will not allow for an owner to receive any compensation from the sale of their personal residence.
We do our own advertising through the internet and through direct mail.
We do not list our own properties. We work with other real estate professionals to list our properties.
If there is no listing agent, we give our listings to the agents that are actively working with us on other properties. Typically those agents are referring multiple
properties to us and are effective in selling properties. These agents are also those that understand our process
We earn our income by purchasing the property from the seller for an amount that is lower than the current liens. We then resell the property. The difference between these (2) price points (less commission paid, our closing costs etc.) is our income.
Print