Destin Florida Short Sales & Real Estate by Wendy Rulnick

The other day an agent asked if she could have my “flight plan” to do a short sale. Per Wikipedia, a flight plan is a pilot’s outline of how he will get to his destination, including departure and arrival points, estimated time, alternate airports in case of bad weather, type of flight, etc.  This agent was sure I had such a document for short sales.  She had never had a short sale listing before, and was looking for a checklist.

Well, guess what? There is no “flight plan” that fits every short sale.  Sure, I can tell you the basic steps, but the number of variables would throw that plan off in a heartbeat. You might be trying for Wyoming, but end up in Oregon!  Here are some examples:

1.   The Seller – Every seller’s situation is different.  Bankruptcy? Multiple liens? No hardship? Your approach will change for each circumstance.

2.   The Contract – What is  the  best way to write one to get approval?

3.   The Package – Many short sale lenders have their own forms and different requirements.  Do you know what they are?

4.   The HUD -   Each lender or mortgage type has unique stipulations as to what will be approved on the settlement statement. 

5.    The Lenders – What will the senior lien pay the junior lien, and what will the junior lien accept?

6.    Other Liens – How do you handle tax liens, judgments and association liens?

7.    Cash Contributions and Promissory Notes – When do they come into play?

8.    The Deficiency Judgment– Do you know what it is and if your seller can avoid it?

These are just a few examples of the variables involved in getting a short sale approved.  There are hundreds more.  So what do you do, if you’ve never done a short sale before?    One place to start is  www.ShortSaleSuperstars.com – you’ll find over 5000 agents sharing information about daily short sale situations, problem solving, tips and tricks.

And  for some SERIOUS SHORT SALE TRAINING – watch for the upcoming short sale webinar from me and Broker Bryant.  We'll  be covering not only basics, but in-depth negotiating skills, deal-saving strategies and special short sale situations.  So be your own pilot to short sale success, and learn, know and grow!

Wendy Rulnick and Bryant Tutas
www.ShortSaleSuperStars.com

Copyright © 2011 REGrow, LLC | All Rights Reserved 

“I could sell ice to an Eskimo”, the young agent said, as he sat with me in my office.  He was about to join my sales team at Rulnick Realty in Destin, Florida, and this was our first real talk.  Here are the bullet points of our conversation:

1. Does the Eskimo want ice? You don’t “sell” people.  You help them see what they want.  The best definition of salesmanship I ever learned was from the original trainer, Tom Hopkins.  He said “Salesmanship is crystallizing someone’s thinking.”  You help them buy what THEY want.

2. “You talk to men differently than you talk to women, right?”  WRONG.  Each person is an individual.   He or she may be analytical, emotional, social, etc.  Relate to people in a way that is important to them.  You’re not going to talk about R-values and 2x4’s if they care about pool parties.  

Don’t just show a woman where the laundry room is.  I had a salesman do that to me, and I decided right then I wasn’t buying.

3. When showing homes, don’t talk the whole time.  In fact, don’t talk much.  I remember the first time I was shown properties by two different agents.  One talked the entire time, extolling the virtues of the home.  I could not even think to know if I liked the property.  The other agent was quiet and watchful.  What a difference.

4. With a couple, pay attention to both partners.  The one with the least words may have the most power.  

5. Don’t tell buyers or sellers what to do or pay.  They decide what to do.  You can show them facts and give them your “opinion”, but that’s all.

6. Qualify what you say.  You don’t have to know everything, either, that’s ok.

7. Not every objection must be answered.  Small objections are good buying signs, and they might be legitimate.  “Yes, the door is in an awkward place.”

8. Don’t give legal advice.  You are not a lawyer.

9. Document everything.  Save your emails and notes.   Relay and obtain important information in writing. One day, you may need to provide your records in a legal proceeding.

10. Listen. Learn.

It's Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR     Rulnick Realty, Inc.

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy's Destin Real Estate Blog

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County-  Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.