|
::
Information for Realtors® -
How
To Be A Hero
Short Sale Tips Newsletter
Give us your name and email and we'll keep you posted on all of the latest tips for selling your over-leveraged listings.
"I've never
met any Real Estate investing team like Great Lakes Home
Solutions".
"Never before have I met anyone in the Real Estate
world that is so focused on solving families' problems,
and so not focused on making a buck - how refreshing!"
"The professionals at Great Lakes Home Solutions simply
must be on your team. They will add real dollars to your
bottom line."
Those
are just some of the comments we've received from area Realtors®
and Lenders over the last
several months. What makes us so different? Let me lay out
the three basic ways that we can work together with Realtors®
to help more families in West Michigan, which ultimately
results in more business for everyone. Be prepared to put
on your "creative hat" as it's unlikely you've
been exposed to all of these ideas offered from one company.
How
To Be A Hero!
Did you know that you can be a hero for 3 groups of people?
Buyers: Stop Saying
"No" While You Watch A Good Lead Walk Out Your
Door
Sellers: Behind
on Payments and/or Facing Foreclosure Who Owe More Then
Their House Is Worth
Investors: Looking
for Wholesale Fixer-Upper Deals
::
Buyers
Stop Saying "No" While You Watch
A Good Lead Walk Out Your Door
Let's talk about buyers first. How many times do you get
a buyer qualified and you only hear one "no" after
another "no" (like the Capital One commercials)
from the lenders you send them to? How much money did you
spend getting that lead that just walked out your door to
disappear forever? (You are tracking this stuff, right?).
Don't you wish that you had something to offer to them when
traditional programs (and your competition) won't work for
them?
Inside
The Buyer's Mind
You know how they think. If you let them walk, will they
come back to you when they can qualify? Will they ever be
able to qualify without someone to help them? What's to
motivate them to clean up their credit? (Hint: Get them
inside their dream home today).
Here's
How We Can Help You Be a Hero With Buyers
We consistently have an inventory of homes available that
we can either:
- Carry
up to a 20% second mortgage
-
Sell on a lease/option or land contract with a 2-3 year
balloon.
In
both cases, you'll get a standard commission!
Plus, you become their hero for helping them to get into
their dream home today instead of waiting for who-knows-how-long.
Guaranteed
Financing
It's a bold statement, but that's what we offer. We have
four different financing options and we guarantee all our
potential homeowners that we'll qualify them for at least
one of them - no exceptions (no matter what - really). After
all, our slogan is "When banks say "No",
we say "Yes!"
For
More Info call us at 269-685-5921.
:: Sellers
Behind on Payments and/or Facing Foreclosure Who Owe More
Then Their House Is Worth
Let's talk about how it feels to be a hero. You know the
feeling… because you are a hero every day - each time
you help a family buy their first home, or help another
family downsize out of a home that's no longer affordable.
It's a great feeling, isn't it? Isn't this why you're in
the business?
Now,
how about families that come to you in desperation? They've
fallen behind on their payments on their home. It happens
all of the time because of the "4 D's": Death,
Disability, Divorce, Downsizing. Bad things happen to good
people all of the time.
If
they have enough equity in their home, you can help them
sell it before the foreclosure and save their credit - awesome!
But what about the homes you look at that you know in your
heart will never sell at the price you have to list it for?
After all, you've got to cover their debt, late fees, possible
attorney fees, interest, back taxes, other liens, a brokerage
fee commission for you, transfer taxes and other closing
fees. Whew! With the soft buyer's market we're in right
now, that's a tall order to fill.
So,
you list it at this too high of a price because you've got
no choice. And it sits, and sits, and sits - and you have
no answer for these desperate homeowners who just want out.
Not feeling like much of a hero now, are you?
If
it comes down to the eventual foreclosure, they'll have
nowhere to turn and will be left with ruined credit, no
cash from the sale of the house, and the embarrassment
of
a foreclosure (which is public information by the way).
Don't you wish you had something to offer them when
everything
seems hopeless? Isn't that what heroes do? YOU can be their
hero!
We
can help these families! Be a hero and send them to our
team. There's two ways that we can work with you to help
these families.
1) Keep The Listing
a. Lower the price to a point you think it will sell quickly
b. Note in the listing that the sale is subject to the lender's approval of a short sale (or whatever you broker’s or MLS’s rules suggest)
c. Attend Joel’s State Approved Con-Ed course to learn how to do short sales on your own: www.ShortSaleCertified.com
Many agents try to negotiate this debt all of the time. If you're to be successful, here’s everything you’ll need to do:
- Get permission to talk with the lender
- Negotiate more time for the sale
- Provide comparables
- Explain the situation to the agent/appraiser the lender hires to check the house’s value
- Take pictures of the repairs needed
- Get a contract’s estimates for repairs
- Prepare a preliminary HUD-1 (a "net sheet" won’t cut it)
|
|
- Get the correct financial information from the sellers
- Coach the sellers on the right way to write a hardship letter
- Prepare a spreadsheet showing what the lender may net if they foreclose and sell it as an REO
- Organize all of this in the "correct order" so the lender knows you know what you’re doing
- Spend hours and hours on hold negotiating with the lender
|
Yes, there’s actually more (but I’m tired of typing!)
(Oh, and if there is more than one lien holder, you’ll need to do this with each one.)
So ask yourself this… do you want to do all of this, or do you want us to do all of this for you so you can focus on helping other buyers and sellers? What business would you rather be in - Realtor® or "lender negotiator"? Doesn’t it make sense to delegate so you can stick to what you do best, and let our team and systems handle this stuff for you?
2) Refer the listing to our team and have us work the short sale for you. When it sells, you’ll be paid 1/3 of the listing agent’s commission. This sure beats losing the listing to foreclosure and getting nothing, don’t you think?
Either option allows your sellers to gain control of the situation, save their credit and dignity, and allow them to start over. Be a hero and offer them help that few other Realtors® can offer them. How many referrals do you think they’ll pass to you for going the extra mile and getting our team involved?
For More Info, visit www.ShortSaleCertified.com/referrals
::Investors
Looking for Wholesale Fixer-Upper Deals
Now, think of your clients that buy investment property.
Maybe they're looking for properties to fix up and resell
at retail. Maybe they'll fix them and keep them as cash-cow
rentals. Either way, you've got clients like this, right?
What's
the one thing that all Real Estate Investors know? It's
taught to them at the most basic level? "You make money
when you…" what, sell? No, you make money when
you buy. You can totally mess up in many ways when investing
in Real Estate, but if you buy right, you'll almost always
be able to make money.
So,
what do they do? They constantly ask you to present low-ball
offers that are an embarrassment to you, the listing agent,
and the seller. Do some get accepted? Sure! But is it worth
all of that work, submitting all of those offers, for the
small number that go through? Then you've got to show up
at closing and look the seller in the eye knowing they've
taken this low-ball offer from your client/Real Estate investor.
Feeling like a hero yet?
Here's
a better scenario: Our team gets significant discounts from
the lenders whose homeowners are facing foreclosure (see
above). There's enough of a discount that we're able to
make a little money and pass on significant equity to your
clients looking to buy these fixer-upper houses at wholesale.
We discount because we're interested in volume and selling
these houses FAST, with little hassle to buyers that are
qualified to buy now and are ready to pull the trigger.
Send
your investors to us, end the embarrassment of submitting
low-ball offers, and still get a standard commission. Now
you're a hero and it's a whole lot less work!
For
More Info
Go to www.WholesaleGreatLakes.com.
If
Three Ways To Be A Hero Aren't Enough
We covered three new ways for you to be a hero to your clients
by working with us.
Buyers: Stop Saying
"No" And Watching A Good Lead Walk Out Your Door
Sellers: Behind
on Payments and/or Facing Foreclosure Who Owe More Then
Their House Is Worth
Investors: Looking
for Wholesale Fixer-Upper Deals
If
you believe that these programs can benefit your clients
and your organization, feel free to pass this website along
to the rest of your office and be a hero to your broker.
When
you find families that fit into any of our niches, you'll
be assured of doing more business together. Being able to
let your clients know about these creative ways to do business
can be a huge "value add" to your existing clients
and, if marketed correctly (with my help if you'd like),
can increase your client base substantially! If you'd like
to discuss any of these in more detail, give Joel a call,
and schedule a time to dig into these ideas.
Want
updated information when it becomes available?
Sign up for one of our newsletters!
BACK
TO TOP
|