As a relatively new Realtor, I performed my first preforeclosure under the guidance of another Realtor who was an “expert” in the field. He was/is one of the most tenatious guys I ever met and he had an ego that stretched far and wide, which you need if you are going to “go after’ this business because it can be tough, homeowners in trouble arent usually happy to see the face of someone they dont know offering to help them. You get a lot of no’s before you get a yes.
Anyway, I had a homeowner in Simi Valley with a definte hardship approach me and ask for help. So, I jumped in and the work was heartwrenching and difficult. There were sleepless nights for me and many tears shed by the homeowner. It was a lot of work for very little money, even when the home was worth 500,000+. It was so stressful, the home was actually foreclosed on, sold at auction, while we were in escrow. And I couldnt keep the money that came my way.I ended up helping the homeowner move out,spending the commissions on a mover. This was my first short sale expereince.
My next homeowner was also a referral and I am pretty sure to this day that he was mentally unstable. The property was located in a somewhat remote area, with no cell service and about 3 weeks into the transaction, I was actually fearful for my personal safety to go the home home to show it. I passed this listing back to my tenacious Realtor friend, after all, he had a Marine Reservist on staff.
Well, it has been several years and the climate has changed, the stigma has changed. Homeowner in trouble with their mortgage are sadly one of many and no longer feel like they are alone. They are seeking help and not all the people out there promoting help have the homeowners best interests at heart.
Over the time that has passed since my first short sale experiences, I have done more, become more educated about the whole of real estate. I have done more short sale transactions and as the local RealtyTrac representative for Simi valley, Moorpark and Thousand Oaks, I have really had a chance to work many interesting and unique foreclosure activity.
Many classes that Realtors take arent worth a hill of beans to the public, the clients. But this certification was taught by a dynamic guy who was not only a great orator but also had over 1000 short sale closes to his credit. This class covered many of the fine print details about short sales that most agents dont know. I also recently attended a California Association of Realtors Short Sale Seminar too. This Preforeclosure Specialist Certification instruction was more indepth, thorough and simply stated with more documentation to reference than almost any class I have attended in my profession.
My advice to Realtors, take the class when it is available to you. My advice to homeowners who need assistance with a short pay or buyers who think they will be making offers on short pays, if you select someone with experience and this certification, you will be picking someone uniquely qualified to assist you.
