Re-vitalizing Your Negotiations - The Dynamics of Cost vs. Price
Short Sale Negotiations Done For You “Your Partner in Success” Presented By: Your Name Here Your...
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Transcript of Short Sale Negotiations Done For You “Your Partner in Success” Presented By: Your Name Here Your...
![Page 1: Short Sale Negotiations Done For You “Your Partner in Success” Presented By: Your Name Here Your Picture Here.](https://reader036.fdocuments.us/reader036/viewer/2022062715/56649daa5503460f94a9915f/html5/thumbnails/1.jpg)
Short Sale Negotiations Done For You
“Your Partner in Success”
Presented By: Your Name Here
Your Picture Here
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Our Company
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• We are professional loss mitigators who negotiate short sales on the behalf of agents and investors
• Our experience is…
• # of Years in business:
• # of Loans negotiated:
• Companies or agents we currently work with:
Our Company & What We Do
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Benefit to You
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• You get paid your full commission without any of the negotiation work
• You focus on getting more listing and helping other clients so you leverage your time better
• You help the homeowner avoid foreclosure
• The lender is happy because they get rid of a non-performing asset
• You can monopolize a niche that a lot of agents avoid without doing the heavy lifting
Benefits to You
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Understanding Short Sales Negotiating
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• Foreclosing on a property can cost a lender 18% to 30% of the property value
• Lenders make money doing loans not taking real estate back
• When a lender forecloses it can contribute to their insolvency
• Foreclosures cost lenders time and money
• Taking back properties for a lender is “Risky” business
Why Do Lenders Take Short Sales?
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Understanding The Opportunity
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• Record numbers of pre-foreclosures right now
• In this area currently (X)% of properties being sold are either pre-foreclosures or REO’s
• A lot of agents are missing a HUGE niche
• This will continue to go on for the next few years
• You will have a competitive advantage over other agents
Understanding the Opportunity
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The Facts
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The Facts
• A very small percentage of agents successfully negotiate short sales 10% or less
• Most agents don’t have the time to consistently be on the phone with the bank
• You make your money getting listings…not negotiating with the banks
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What Makes Short Sale Negotiations Tough?
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What Makes Short SaleNegotiations Tough?
• Length of time banks take to discounts – can be months worth of work on 1 day
• Your file can get bounced around the bank multiple times
• Banks are overloaded with files unless you know how to get yours pushed to the top
• Loan types and how they effect the approval process
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Case Studies of Deals
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Case Study #1
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Case Study #2AddressCity, ST
Lien Amount Payoff
1st Mortgage $ $
2nd Mortgage $ $Other Liens $ $Other Liens $ $Total Discount $
Commission to Us $ Realtor Commission $
House PictureHere
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Agent & Homeowner Testimonial #1
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Case Study #2
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Case Study #2AddressCity, ST
Lien Amount Payoff
1st Mortgage $ $
2nd Mortgage $ $Other Liens $ $Other Liens $ $Total Discount $
Commission to Us $ Realtor Commission $
House PictureHere
![Page 20: Short Sale Negotiations Done For You “Your Partner in Success” Presented By: Your Name Here Your Picture Here.](https://reader036.fdocuments.us/reader036/viewer/2022062715/56649daa5503460f94a9915f/html5/thumbnails/20.jpg)
Agent & Homeowner Testimonial #2
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Case Study #3
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Case Study #3AddressCity, ST
Lien Amount Payoff
1st Mortgage $ $
2nd Mortgage $ $Other Liens $ $Other Liens $ $Total Discount $
Commission to Us $ Realtor Commission $
House PictureHere
![Page 23: Short Sale Negotiations Done For You “Your Partner in Success” Presented By: Your Name Here Your Picture Here.](https://reader036.fdocuments.us/reader036/viewer/2022062715/56649daa5503460f94a9915f/html5/thumbnails/23.jpg)
How You Can Start Working with Our
Company?
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• Phase 1: Seller Introduction
• Phase 2: Short Sale Package Creation
• Phase 3: Bank Negotiation
• Phase 4: Settlement & Disposition
How You Can Start Working with Our Company?
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Phase 1: Seller Introduction
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• You set up introduction to the seller
• We discuss the short sale process with the seller
• We give them comprehensive list of all the paperwork we need to process the short sale
• We handle all the work of collecting the paperwork
• We communicate with the seller and keep them informed of our progress every week
• We encourage them to seek legal council and speak with a CPA
Phase 1: Seller Introduction
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• How to set us up correctly
• Introduce us as a partner/team member and an expert at what we do
• Make sure the seller is realistic about their situation and the value of the property
• Do not answer questions you don’t know the answer to. You can defer those to us.
• Set a time for an introduction
Phase 1: Seller Introduction
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Phase 2: Short Sale Package Creation
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• We contact the bank as soon as we have authorization
• We follow their guidelines for short sale package submission
• We build a comprehensive short sale package for the seller that builds their case
• We submit an offer to the bank to get the process started
• We follow up with the bank to make sure they received the package and are processing it quickly
• We can even do a full loan audit if the seller requests and we believe it will help the case
Phase 2: Short Sale Package Creation
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• How we build a killer case for the seller
• Prove a financial hardship
• Comparables that justify our offer
• Inspection report
• Contractor estimates
• Market data/days on market
• Neighborhood news/data
Phase 2: Short Sale Package Creation
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Phase 3: Bank Negotiation
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• We handle all bank communications
• We keep you the Realtor updated with a weekly report on any files you have submitted to us
• We handle the BPO on the property
• We negotiate a short payoff with the bank
• We handle any outside liens
• You continue to market the property for sale to find a buyer
Phase 3: Bank Negotiation
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• We handle all bank communications
• We keep you the Realtor updated with a weekly report on any files you have submitted to us
• We handle the BPO on the property
• We provide the BPO Package including: Comparables, Purchase & Sale Agreement, Contractor Estimates, Inspection Report, Seller Hardship letter
• We negotiate a short payoff with the bank
• We handle any outside liens
• You continue to market the property for sale to find a buyer
Phase 3: Bank Negotiation
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Phase 4: Settlement & Disposition
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• We handle negotiations for: Mortgage, HOA Liens, HELOCs, Contractor Liens, IRS liens, any other private liens
• We request full satisfaction of liens and release of deficiency judgment
• We handle entire closing process
• You market the property to find a qualified buyer while the negotiations are going on
• We work with the buyer to make sure their financing is in line
• We pay off the lender with our own funds and then we close with the buyer
• Title Company or Attorney sends you your commission
Phase 4: Settlement & Disposition
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Your Role as the Agent
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• The listing stays under your name
• We will help communicate the ideal listing price based on negotiations with the bank and the BPO
• You will market the property to find a buyer
• All contracts will be subject to “Short Sale Approval”
• We will market the property to our buyers list as well
• Keep the buyer happy as the process can take longer than many expect
Your Role as the Agent
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Why Partner with Us
• You get your Full Commission and we do all the mitigation work
• You avoid wasting your time negotiating with banks
• this is not the best use of your time
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Commission Structure
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Commission Structure
• 6% Listing Agreement with Seller
• 3% Paid to You for Listing
• 3% Paid to Buyers Agent
• 1%, 2% or 3% Bonus Paid at Closing
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How We Make Money
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How We Make Money
• We purchase the property and sell it for a conservative profit
• We only get paid if we negotiate effectively on your behalf
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Summary of Benefits
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Summary of Benefits
• You don’t have to do any of the negotiation work
• You can maintain a competitive advantage by leveraging what you do best
• You get an immediate offer on the property which gets the short sale process started right away
• You have an experienced negotiator working your deals
• We help you find sellers who are in pre-foreclosure
• We keep in constant communication with you
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How to Get Started?
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Questions?