There is one key ingredient to buying a short sale. The most important, must have, do-not-even-think-about-making-an-offer-without-this asset is……are you ready?…..a real estate agent who actually knows how to handle a short sale.
Hang on, keep reading. Here’s a real example from our Bordentown, NJ office. This homebuyer (we’ll call her Amy) had been looking for a home with an agent from another company. She is a mother of two, looking for a modest home with a yard in our area. She kept sending her agent homes that she was interested in, and he would respond with “No way, that’s a short sale…you’ll never close.”
This happened over and over again for months. Amy started getting discouraged, and when she met one of our agents at an event, she mentioned her frustration with the housing market. She said “I can’t buy a home – everything is a short sale.”
Our ERA Central agent sat down with Amy and explained to her that more than 25% of our business today is in short sales. We have an entire department dedicated to short sales, and yes … you can close on them and often at a significant savings below market value. Here’s the missing ingredient: you need an agent and a brokerage experienced in getting short sales to closing. ERA Central agents are able to trouble shoot along the way to protect you and your family – and get you to the closing table.
We know we aren’t the only real estate company in central NJ. There are many great agents at other brokerages (by the way, if you’re one of them…we’re hiring!) who would take good care of you in a short sale transaction. Our point here is this: if you are one of the many buyers today who are looking for a great deal, you need to interview your agent before agreeing to work with him or her. Ask the agents you’re interviewing how many short sales they have closed in the past year. Then give us a call.