To take on a listing in this market, and any market, involves taking a risk. That is, a substantial business investment covering the cost “doing” business, which includes time, advertising, payroll, insurance, licensing, internet, phone, rent, etc. etc..  In a normal market, the calculated risk of the business investment is that the listing will most likely sell, and the burden of expenses will reimbursed, plus some business profit.    With a Short Sale, the risk is much higher.  Why?  The Short Sale lender may not approve the sale.  And the time investment to reap a return may be five times longer than a normal sale, reducing any profit if the sale is approved.

To lessen the key business risk of an unapproved Short Sale– both for me and my seller, I must control the Short Sale from start to finish.  Why?  Because I can:

• Assemble excellent lender packages personally reviewed by me
• Directly and immediately respond to negotiators’ calls and emails
• Immediately provide well-written market narratives and critical analyses proving price
• Ensure that appraisers and bank BPO agents understand the subject property’s challenges
• Immediately provide additional documentation required by the lender
• Keep the parties well-informed and in the deal
• Document all tasks in detail for transaction-saving reference
• Provide creative solutions to negotiators’ demands such as promissory notes and cash contributions
• Use twenty years of negotiations skills to ensure success

Can a third party do all this?  Perhaps.  But I know I can. If I pass along the critical Short Sale negotiation stage to a third party, my company’s business success is entrusted to others, as is my seller’s chance of approval.

The post Why I Negotiate My Own Short Sales first appeared on Rulnick Realty.