Short Sale in Your Future? Hire Experience

Over the weekend the Chicago Tribune ran a “special advertising section” on short sales, foreclosures, etc. One piece encouraged folks who are considering a short sale – from the buyer or seller side – to “hire experience.” Here are some highlights from the article:

When choosing a real estate agent on either the sell or buy side, one of the most fundamental issues to ask about is experience, says Mike Golden, co-founder of Chicago’s @Properties real estate brokerage. The agent you choose should be experienced in short sales, and able to take you step by step through the process, explaining how long it will take and your role at each stage, he says.

Sellers should also ask how the agent plans to market the home. The answer should be that the marketing effort will be as or more rigorous than that for a traditional sale, according to Alex Charfen, CEO of Austin, Texas-based Distressed Property Institute.

Buyers should ask real estate agents how many short sales they’ve completed, and in how many they represented the buyer, says Pat Kelly, broker-agent with Realty World All-Pro.

On a related subject, watch for future posts here that feature local Realtors® telling us what they look for when choosing an agent for themselves (i.e., when making a referral).

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