A person who wants to be a short seller. Before becoming a Realtor®, she must first obtain a real estate sales license. Realtors® are members of the National Association of Realtors®, a non-profit organization based in the United States. To keep their membership, members must pay yearly dues and adhere to certain rules. Someone who specializes in short sales is familiar with working with banks to persuade them to accept a lower price for a property than is owed.
If you want to work as a short sale agent, you must first pass your state’s real estate exam and obtain a sales agent license. Each state in the United States has its own licensing regulations. After becoming licensed, the real estate agent can join the National Association of Realtors® for a fee. Alternatively, one could work for a brokerage firm first and then join the national organization to become a short sale Realtor®.
To sell short sales, there is no specific national short sale certification that one must obtain. To learn the business, most Realtors® work with brokerage houses that specialize in short sales. They learn how to attract and retain customers, organize paperwork, and negotiate with lenders. Most Realtors® have been trained in the art of short sales their brokers.
Short sales can take a long time to complete because overburdened lenders with hundreds or thousands of property files must be dealt with. By watching a seasoned short sale agent close deals, one can quickly learn how to become a short sale Realtor®. Short sales frequently fail because the agent is indecisive or fails to communicate effectively with the mortgage lender.
Short-sale agents must cultivate close ties with a variety of mortgage lenders. They must get to know each lender, including their working hours and names. When it comes to closing short sales, it’s critical to follow up on phone calls and emails.
Another requirement is well-organized paperwork. If a property folder is missing even one required document, it could sit on a lender’s desk for weeks or months. Short sale agents who are known for their organization and meticulous paperwork typically close deals quickly.
In as little as a few months, you can become a short sale Realtor®. Studying for the real estate course and the state exam takes up the majority of one’s time. After that, one must look for work with a company that will train short-sale agents.