short sale negotiation presentation

Short Sale Negotiation

Effective Short Sale Negotiation willboost your listings, closings and referrals

Contemporary Ventures Group

Maintain control throughout the negotiation process by providing the bank with documentation that compels a decision to accept the Short Sale offer in as reasonable a time as possible.


The Goal

• Where do I focus my time and efforts?• Do I avoid pursuing short sale opportunities?• What % of my listing appointments are shortpays?• What is my short sale negotiating strategy?• How long does it take to negotiate an approval?• Where is my focus, on Prospecting or Negotiating?• Do I want to generate more business?

Ask Yourself these questions…


Short Sales Up 128 Percent in 2010 22 December 2010 Results for the first nine months of 2010 are in and Fannie Mae

had a 128 percent increase in short sales and deeds-in-lieu of foreclosure over the same period in 2009. Freddie Mac fared only slightly better, with short sales and deed-in-lieu transactions


http://shortsaledailynews.com/short-sales-up-128-percent-in-2010/

• More than 1 in 8 homeowners are upside-down on the mortgage and don’t know what to do. The search for a solution can be filled with misinformation and fraud which often adds more frustration to a difficult situation.

• Being educated in today’s shifting market is the most important safeguard you can take in preventing lost opportunities. Homeowners need to understand all options. The average foreclosure can cost a lender from 35-50% of the value of a property (or more).

• Distressed Property Institute “July 2010”



Factors in Short Sale


People:Documenting the Income


People:Documenting the Expenses


People:Documenting the Assets

Need to demonstrate to the bank that there is no chance of the homeowner catching up or meeting their obligation

Factually highlight a borrowers circumstances in a chronological fashion

Provide lender with indisputable reasoning that substantiates approving a short sale as the best decision

Documenting the Problem:Hardship Letter


Document the PropertyMake it Personal – Brand the file


•Market the file to the Lender’s Loss Mitigation Rep

•Create a Personal Connection, Brand with the Homeowner

•Do NOT allow the bank to “OWN” the file – make it represent real people, a family, rather than a thing

Consequences of takingBack an REO to the Lender


• Where do I focus my time and efforts?• Do I avoid pursuing short sale opportunities?• What % of my listing appointments are short pays?• What is my short sale negotiating strategy?• How long does it take to negotiate an approval?• Where is my focus, on Prospecting or Negotiating?• Do I want to generate more business?

Ask Yourself these questions…



WHAT IS YOUR REAL BUSINESS?

1. LEAD GENERATION & CONVERSION = PROSPECTING2. LISTING/SELLING = REVENUE

WHAT DETRACTS FROM YOU EXECUTING YOUR BUSINESS?

1. ANYTHING NOT INCLUDED IN NUMBERS 1 and 2 ABOVE

WHAT DO YOU REALLY WANT FROM YOUR BUSINESS?

Questions How we can be a RESOURCE for you? Conclusion

What We Can Do for You

Wrap-Up


short sale negotiation presentation

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