I have gone on a number of listing appointments recently and the sellers have had that look on their faces that says, "Whats in it for you?" You may be thinking why, as I am going to get a listing. But not so.
Scenario 1
Many sellers I am working with have agreed to see me and told me they need to do a short sale. I sit down with them and the first thing I do is direct them to the government web site. If they have income then they may be eligible for a loan modification. If they get the modification they may be able to make payments. This results in a great deal of positives.
The seller stays in their home.
The seller can get reduced payments.
Property values do not decline.
The sellers credit remains in tact.
Yes as an agent I do not get the listing. But you know what, I take my role as a private property advocate seriously . I have helped a home owner. That's what's in it for me
Scenario 2
In some cases the need to sell is there no matter what. With a loan modification I have bought the home owner time. During that time I can market the house at market price . I can hopefully have the seller walk out with their credit in tact and cash in their pocket. Yes I will make some money on the deal too. But I helped a seller who was going to lose in so many ways not lose.
So if you are walking into situations use the loan modification first . Stave off short sales or foreclosures. If you are working with an older seller look ats a reverse mortgage. Be a property advocate as well as a Realtor.
