If the agent you are working with or thinking of working with can't answer these questions or hems and haws, keep looking. Especially about their own personal production numbers - if they can't prove it, give you referrals, or testimonials they aren't the "EXPERT" you are looking for.
INTERVIEW YOUR AGENT - the “EXPERT”:
1) Has your experience been as a buyers agent or a selling agent over your career?
2) How long have you been NEGOTIATING with the lenders?
3) Do you negotiate or do you have a company negotiate for you?
4) Are you in control of my paperwork or is the 3rd party?
5) What are your personal numbers, how many short sales have you personally done? Now what are your Agencies numbers and how many agents does your office have?
6) Do you have any referrals to a tax attorney, bankruptcy attorney, experienced CPA?
7) What should I expect at the end, what are the possible outcomes besides foreclosure?
The list can go on but this should give you a good idea of how much of an expert they are.
Monday, September 28, 2009
Saturday, September 26, 2009
Short Sale "EXPERTS" (PART 1)
Short Sale “EXPERTS”
I just took an Ethics Class through Sacramento Association of Realtors; I have to say it was fantastic, the instructor Dave Tanner, Attorney and Real Estate Broker, was honest and to the point, which is my style. But I learned a heavy lesson today, it’s kind of sad. Let me set the stage for you.
Get to the class early, excited to learn and class starts on time at 9:00. Some agents straggle in late, going through ½ the class we get to Article 11, which basically states, it is unethical to be working out of your expertise. Here is my question to you, if you had cancer would you hire a heart specialist to cure you? Would you hire a graduate medical student? Would you hire a pre-med student? I think not, you would hire the specialist with the experience to back them up. This particular Article of the Code of Ethics and Standards of Practice of the National Association of Realtors states:
“ The services which REALTORS® provide to their clients and customers shall CONFORM TO THE STANDARDS OF PRACTICE AND POMETENCE WHICH ARE REASONABLY EXPECTE D IN THE SPECIFIC REAL ESTATE DISCIPLINES IN WHICH THEY ENGAGE”..then it gives specific’s commercial, appraisal, counseling, syndication, residential… this is my favorite part. “REALTORS® shall not undertake to provide specialized professional services concerning a type of property or SERVICE that is OUTSIDE THEIR FIELD OF COMPETNCE unless they engage the assistance of one who is competent…”
It drives me crazy the bad stories I hear about these “EXPERTS”. I have been working with Short Sales for 4 years, I have over 230 Short sales that I have worked on and I would venture to say that I AM AN EXPERT. Then you get these Agents or Realtors that have done one or 2 that say “EXPERT” or “SPECIALIST”, and people hire them, net result Foreclosure.
Coming NEXT WEEK Interview your "Expert"
I just took an Ethics Class through Sacramento Association of Realtors; I have to say it was fantastic, the instructor Dave Tanner, Attorney and Real Estate Broker, was honest and to the point, which is my style. But I learned a heavy lesson today, it’s kind of sad. Let me set the stage for you.
Get to the class early, excited to learn and class starts on time at 9:00. Some agents straggle in late, going through ½ the class we get to Article 11, which basically states, it is unethical to be working out of your expertise. Here is my question to you, if you had cancer would you hire a heart specialist to cure you? Would you hire a graduate medical student? Would you hire a pre-med student? I think not, you would hire the specialist with the experience to back them up. This particular Article of the Code of Ethics and Standards of Practice of the National Association of Realtors states:
“ The services which REALTORS® provide to their clients and customers shall CONFORM TO THE STANDARDS OF PRACTICE AND POMETENCE WHICH ARE REASONABLY EXPECTE D IN THE SPECIFIC REAL ESTATE DISCIPLINES IN WHICH THEY ENGAGE”..then it gives specific’s commercial, appraisal, counseling, syndication, residential… this is my favorite part. “REALTORS® shall not undertake to provide specialized professional services concerning a type of property or SERVICE that is OUTSIDE THEIR FIELD OF COMPETNCE unless they engage the assistance of one who is competent…”
It drives me crazy the bad stories I hear about these “EXPERTS”. I have been working with Short Sales for 4 years, I have over 230 Short sales that I have worked on and I would venture to say that I AM AN EXPERT. Then you get these Agents or Realtors that have done one or 2 that say “EXPERT” or “SPECIALIST”, and people hire them, net result Foreclosure.
Coming NEXT WEEK Interview your "Expert"
Subscribe to:
Posts (Atom)
