In the preceding articles on marketing for Short Sale listings we’ve talked about several free ways to find these listings. Today I’ve got another one for you.
Expired listings are another source of Short Sale listings. Now I know that the sound of chasing expired listings won’t excite most Realtors. But in this case it is a little bit different.
When we see a listing that has been priced a little too high for the current market conditions, and the price was never lowered to help the property sell, and it has been vacant the whole time (or most of the time) it’s been on the market, it’s very likely that this property is a short sale listing waiting to happen. It’s also very likely that the agent that had the property listed previously does not understand how to handle a Short Sale.
When you start becoming familiar with the Short Sale world these properties will start to stick out to you like a sore thumb. When you see these listings make a note to yourself. Then when you see the listing expire you can either contact the homeowner or the listing agent.
The homeowner will likely be glad to hear you can help.
The list agent may be happy to hear from you also. At this point they are very likely sick of this listing, feeling that there is no way they will ever make anything from this one. If you offer them a small referral fee they may be thrilled for you to take over the listing. Now of course you’ll want any referral fee to be very small since you’ll have a little extra work to do on a short sale listing. But remember the other agent has likely given up on this listing and will probably be fine to get something, anything out of this listing. They may even refer future Short Sale listings to you.
Stay tuned, I will have some more marketing ideas soon.
Chris Badger
Strategic Loss Mitigation
“The Ultimate Short Sale Success System“
Tags: Agent, agent short sale, Marketing for Short Sales, Realtor, Realtor short sale, Short Sale, Short Sale Specialist, Short Sale Success, Short Sale System, Short Sale Training, Short Sales, system
